KUCHING: A well managed Sovereign Wealth Future Fund can become active in the financial market, including the share market, to support or invest in counters, which are fundamentally sound.
Universiti Malaysia Sarawak (Unimas) board member Dr Gregory Hii stated that in a way, the fund could also function as a buffer resource to stabilise the market and make positive returns.
He likened the move to set up the fund to the state government’s decision to establish the Development Bank of Sarawak earlier.
“It was a sensible and strategic move by the Sarawak government,” he said, commending the state assembly for passing the Sarawak Sovereign Wealth Future Fund Board Bill.
“It means Sarawak can now establish a sovereign wealth fund to invest and generate income to boost financial resources to meet unexpected needs.
“Aside from that, the fund can generate wealth for future generations,” he said.
Hii is convinced that the Sovereign Wealth Future Fund will be able to generate income to boost financial resources as well as generate wealth for future generations.
