Sarawak targets three Bumiputera firms on Bursa by 2030 under SBB2035 plan
Junady (third left) presents a memento to Naroden for officiating the programme. — Photo by Roystein Emmor
KUCHING (June 18): The Sarawak aims to list three Sarawakian Bumiputera companies on Bursa Malaysia by 2030 under the '3-7-20' framework of the Sarawak Bumiputera Economic Transformation Plan 2035 (SBB2035), said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
The Minister of International Trade, Industry and Investment highlighted this during the 'Road to IPO: Sarawak Edition' at a hotel here today, and stressed that listing on Bursa Malaysia should be seen as a strategic move for business growth and transparency.
'Listing gives companies access to larger capital, strengthens governance structures and sets the foundation for sustainable long-term growth. It is not merely about prestige, but a symbol of market confidence in Bumiputera companies' capabilities,' he added.
He noted that public-listed companies also play a vital role in shaping the local economic ecosystem through job creation, inclusive supply chains and contributing to sustainable economic growth.
'I urge for continued synergy between the Sarawak and federal governments, investment institutions and the investor community to create more Bumiputera entrepreneurs who can rise to the national economic stage,' he said.
His text-of-speech was read by his ministry's advisor Dato Sri Mohd Naroden Majais, who represented him at the event.
Awang Tengah said aside from listing the three companies on Bursa, the 3-7-20 framework aimed to develop seven 'champion' companies in strategic sectors under the Post Covid-19 Development Strategy 2030; and elevate 20 per cent of micro enterprises to private limited company status by 2030.
'These targets are not just numbers – they represent our resolve to nurture resilient and high-impact Bumiputera companies that can significantly contribute to the nation's and Sarawak's economy,' he said.
Awang Tengah said the state required a comprehensive approach to achieve these goals, including access to financing, corporate governance improvements, capacity building and a clear pathway to the capital market.
'Teraju (Unit Peneraju Agenda Bumiputera) is actively working with financial and market institutions, including Bursa Malaysia, through platforms such as the Bumiputera Expansion and Catalyst Fund (BECF) and the Islamic Working Capital Project Financing (I-WCPF) to support the holistic scaling of Bumiputera companies,' he said.
On the Road to IPO programme, he said it was a strategic platform to enhance the Bumiputera entrepreneurship ecosystem in Sarawak.
'This programme guides and empowers high-potential Bumiputera companies to scale up their operations, improve competitiveness and strengthen corporate governance in preparation for listing on Bursa.
'This initiative is in line with the aspirations of the SBB2035, which sets strategic targets to develop high-impact Bumiputera companies as key drivers of Sarawak's economic growth,' he said.
Awang Tengah expressed confidence that with a coordinated approach and strong commitment from all stakeholders, the 3-7-20 targets could be successfully achieved.
Also present was Teraju chief executive officer Junady Nawawi.
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