Latest news with #AffinBank
Borneo Post
22-07-2025
- Business
- Borneo Post
Milestones: Sarawak's bold ascent by air, sea and financial power
Abang Johari (fourth left) witnessing the signing of the SPA between the Sarawak government and MAG on Feb 12, 2025, in Kuching. — Photo by Roystein Emmor KUCHING (July 22): Under Datuk Patinggi Tan Sri Abang Johari Tun Openg's leadership as Premier, Sarawak has made exceptional strides to steadily ascend as a key player in the economic, transport, and financial landscape not just in Malaysia but also globally. Here, we take a look at a few of Sarawak's major achievements since the anniversary of the state's independence last year. AirBorneo The high-profile launch of AirBorneo on February 12, following the acquisition of MASwings from the Malaysia Aviation Group (MAG), has made Sarawak the first state in Malaysia to own an airline. AirBorneo is expected to launch full operations by next year, with services targeting domestic and regional routes across Southeast Asia, including Kuala Lumpur, Bangkok, Singapore, Jakarta, Hong Kong, and Japan. 'AirBorneo is poised to create a balance between connectivity, affordable fares and economic benefits. 'Operating as a full-service carrier (FSC), AirBorneo can significantly enhance the passengers' experiences through superior in-flight services. 'This will emphasise the regional prestige of Sarawak as a premium travel destination,' said Abang Johari said at the Sale and Purchase Agreement signing ceremony on Feb 12. According to media reports, some of the international destinations that AirBorneo is eyeing include Bangkok, Hong Kong, Jakarta, Seoul and Frankfurt as the airline aims to operate as a full-service carrier. The full acquisition of MASwings Sdn Bhd by AirBorneo Holdings Sdn Bhd is expected to be finalised by Dec 31 this year, with no changes to the current Rural Air Services (RAS) operations. During the transition period, AirBorneo is working closely with MAG to ensure a seamless handover and to obtain necessary regulatory approvals from the Civil Aviation Authority of Malaysia (CAAM), the Malaysian Aviation Commission (Mavcom), the International Civil Aviation Organisation (ICAO) and the International Air Transport Association (IATA). The airline has established its headquarters in Kuching and begun recruiting key personnel. A public logo and livery design competition was launched to engage Sarawakians in shaping the airline's identity, The airline's development is closely tied to Sarawak's broader infrastructure ambitions. A new Kuching International Airport and a deep-sea port in Tanjung Embang are in the pipeline, and aimed at transforming Sarawak into a regional aviation and marine hub. Sarawak is now the largest shareholder of Affin Bank. Becoming biggest shareholder in Affin Bank On September 27, 2024, Sarawak became the largest shareholder in Affin Bank Berhad, acquiring a 31.25 per cent stake through its wholly owned subsidiary, SG Assetfin Holdings Sdn Bhd. This landmark move marked a pivotal shift in the state's financial landscape, positioning Sarawak not just as a stakeholder but as a strategic force in Malaysia's banking sector. Prior to the acquisition, Sarawak held a modest 4.81 percent stake in Affin Bank. The purchase of shares from Lembaga Tabung Angkatan Tentera (LTAT) and Boustead Holdings Berhad elevated the state's influence, enabling it to shape the bank's direction in alignment with Sarawak's Post COVID-19 Development Strategy 2030 (PCDS 2030). The acquisition was not merely financial—it was deeply symbolic of Sarawak's growing autonomy and ambition. Abang Johari had emphasised that the decision was driven by the need to create a robust financial platform to support Sarawak's economic transformation. With Affin's extensive network and expertise, the state aims to unlock new opportunities, facilitate access to capital, and ignite entrepreneurial growth across sectors. Affin Bank's role in supporting small and medium-sized enterprises (SMEs) is central to Sarawak's strategy. SMEs form the backbone of the state's economy, and Affin's suite of banking products, including trade finance and commercial lending, is expected to empower local businesses to scale and innovate. The acquisition also aligns with Sarawak's broader goal of diversifying its economy beyond natural resources. Strategic industries such as agro-based ventures, tourism, manufacturing, and green technology are poised to benefit from improved access to financing and tailored banking solutions. Affin Bank's expansion in Sarawak is already underway. As of early 2025, the bank operates eight branches across Kuching, Sibu, Bintulu, and Miri, with plans to open six more by July, bringing the total to 14. The Premier has also called for greater decentralization in banking operations, urging Affin to empower its Sarawak-based managers with loan approval authority. This move is intended to accelerate decision-making and ensure that local needs are addressed swiftly and effectively. On June 23, it was reported Affin Bank Berhad has been officially appointed to manage the Endowment Fund Sarawak (EFS) 2.0, a long-term savings initiative for newborns in the state. Affin Bank had also introduced the Kenyalang savings account for Sarawakians last in April. Account holders were given a special debit card bearing the hornbill graphic. Bintulu Port is a vital gateway for Sarawak's liquefied natural gas (LNG) exports and industrial cargo. Reclaiming Bintulu Port In a historic move to assert greater control over its maritime infrastructure, the Sarawak government initiated the acquisition of Bintulu Port from federal jurisdiction in early 2024. It marked a turning point in Sarawak's pursuit of economic autonomy and infrastructure governance under the Malaysia Agreement 1963 (MA63). The port, long managed by the federal Bintulu Port Authority (BPA), is a vital gateway for Sarawak's liquefied natural gas (LNG) exports and industrial cargo. The acquisition of Bintulu Port was deemed as a necessary step to streamline port operations and align them with Sarawak's development goals. Momentum accelerated in February 2024 when a Memorandum of Understanding (MoU) was signed between the federal Ministry of Transport and Sarawak's Ministry of Infrastructure and Port Development (MIPD). The MoU outlined the framework for transferring regulatory control and assets, including the repeal of the Bintulu Port Authority Act 1981 and the establishment of a new state-level authority. In July 2024, Parliament passed the Bintulu Port Authority (Dissolution) Bill and the Declaration of an Area in the Bintulu District to be a Federal Port (Repeal) Bill. These legislative milestones officially reclassified Bintulu Port as a state port, enabling Sarawak to govern it under the Port Authorities Ordinance 1961. Premier Abang Johari highlighted the economic significance of the acquisition, noting that Bintulu Port would play a central role in boosting Sarawak's commodities trade and export capacity. The launch of the Borneo Supply Base, designed to serve the petroleum industry, is expected to increase shipping activity and support the state's energy ambitions. The acquisition also includes a compensation agreement, with Sarawak set to pay the federal government for the transfer of port assets. This financial arrangement underscores the seriousness of the state's commitment to managing its infrastructure independently and responsibly. Looking ahead, Bintulu Port is poised to benefit from infrastructure upgrades and expanded services. The port will support bunkering for green fuels and serve as a terminal for LNG exports, aligning with Sarawak's push for sustainability and regional competitiveness. The port's transformation is part of a broader vision that includes the development of the Kuching Deep Water Port at Tanjung Embang, which will complement Bintulu's operations and position Sarawak as a maritime hub in Southeast Asia. The Sarawak government has ramped up staffing and budget allocations to ensure the port's successful integration into state systems. Deputy Premier Datuk Amar Douglas Uggah Embas said in May this year the takeover of Bintulu Port from federal jurisdiction to Sarawak is currently in the final stages of negotiations and the transfer is expected to take place in 2025. He said, with the approval of the Sarawak Port Authority Ordinance in May 2024, the Sarawak government is now moving towards the operation of a single port authority, the Sarawak Port Authority, which will have regulatory jurisdiction over all port activities in Sarawak. The opening ceremony of SUKMA XXI in Kuching was a spectacular and memorable event. — Photo by Chimon Upon Sporting success, bigger aspirations Sarawakians also have much to celebrate in sports. The successful hosting of Malaysia Games (SUKMA XXI) in August 2024 showcased the state's sporting infrastructure and organizational capacity. This on-field triumph paved the way for Sarawak's upcoming role as host of the Southeast Asian (SEA) Games in 2027. Sarawak clinched the overall championship for the first time in 30 years. With 76 gold, 55 silver, and 70 bronze medals, the host state edged out Federal Territory by a single gold, in a nail-biting finish that kept fans on edge until the final event. The Games were a showcase of rising stars. Swimmer Kelly Teo, just 18, won six golds and three other medals, earning RM94,250 in incentives from the state government. Shot putter Jonah Chang Rigan smashed the national record with a throw of 17.66 metres, while javelin thrower Ng Jing Xuan rewrote national record with a 45.12-metre launch. Beyond medals, SUKMA XXI was a triumph of technology and inclusivity. A dedicated mobile app provided real-time updates, athlete profiles, and live broadcasts—20 sports were streamed online, a first for SUKMA. State Youth, Sports, and Entrepreneur Development Minister Datuk Seri Abdul Karim Rahman Hamzah had said Sarawak is set to host the highest number of sporting events at the SEA Games 2027, with 18 sports currently agreed upon He had also said the official opening ceremony of the SEA Games will take place in Kuching. Abang Johari Tun Openg Affin Bank AirBorneo lead sarawak day
The Star
25-06-2025
- Business
- The Star
Affin Bank can catalyse sme growth in strategic sectors, says Abang Johari
KUCHING: Affin Bank Bhd is well-positioned to catalyse the growth of small and medium enterprises (SMEs) in Sarawak by offering targeted financing, digital transformation support, and non-financial capacity building aligned with the state's strategic economic sectors. Premier of Sarawak Tan Sri Abang Johari Tun Openg said the bank should also deepen its role in empowering SMEs through inclusive initiatives and financial literacy programmes, in line with Sarawak's aspiration to become a high-income, innovation-driven economy. "For non-financial support, through programmes like AFFIN BizChat, the bank can provide SMEs with access to business resources, market insights, and best practices, empowering them to innovate and grow sustainably. "Affin Bank can prioritise lending and advisory services for SMEs in sectors central to Sarawak's diversification, such as agro-based ventures, tourism, manufacturing, technology, and the green economy,' he said. The text of his speech was read by Sarawak Financial Secretary Datuk Seri Dr Wan Lizozman Wan Omar at the launch of Affin Bank Jalan Satok Branch, here, today. Abang Johari said the bank's continued presence and expansion in the state should be matched with a deeper commitment to supporting the SME ecosystem, particularly in rural and semi-urban areas that are pivotal to Sarawak's economic transformation agenda. Looking ahead, he said Affin Bank has the potential to evolve into not only a leading national bank but also a regional financial powerhouse by embracing cutting-edge innovations such as artificial intelligence (AI)-powered financial assistants, automated loan approvals, digital wallets and open banking platforms. Meanwhile, Affin Bank president and group chief executive officer Datuk Wan Razly Abdullah said the branch expansion marks a step forward in broadening the bank's reach and enhancing its capabilities to better serve retail, SME, and corporate clients through specialised solutions in trade finance, advisory and transactional banking. "By deepening our presence in this vibrant community, we are not only improving accessibility but also reinforcing our commitment to delivering innovative, customer-centric financial solutions that empower individuals and businesses to reach their full potential,' he added. - Bernama
The Sun
24-06-2025
- Business
- The Sun
Kidslympic Malaysia 2025 launches with Affin Bank and Watsons as main partners
KIDSLYMPIC Malaysia 2025 was officially launched today, marking the beginning of the nation's largest multi-sport event for children. The event, set for October 10-12 at PNB Merdeka Ventures Stadium, saw nearly 1,000 young runners participate in the Kidslympic Malaysia Run Kuala Lumpur 2025, symbolizing the movement's vision, 'From Playground to Podium.' Affin Bank and Watsons Malaysia were announced as Main Partners, reinforcing their commitment to youth development, health, and education. Affin Bank's 'Kids Save Smart' initiative aims to promote financial literacy, while Watsons will focus on health and wellness through on-ground activations. Lim Kien Wei, CEO of Kidslympic Malaysia, emphasised the event's broader impact. 'Kidslympic is not just an event—it's a long-term platform to empower children through sports, education, and community. We invite more partners to join us in shaping the next generation.' Caryn Loh, Managing Director of Watsons Malaysia, highlighted the brand's alignment with Kidslympic's goals. 'Watsons is proud to inspire healthier, more active lives for children. Together, we make fitness fun and accessible.' Datuk Wan Razly Abdullah Wan Ali of Affin Group added, 'This partnership reflects our commitment to creating equal opportunities for children, fostering confidence and unity.' Olympic silver medalist Goh Liu Ying, a co-founder, shared her personal connection to the initiative. 'Sports gave me confidence and discipline. Kidslympic ensures every child gets that chance.' The inaugural Kidslympic in 2024 saw over 800 participants. The 2025 edition expects 1,500 young athletes competing in athletics, swimming, basketball, volleyball, football, gymnastics, and obstacle races. Supported by the Ministry of Youth and Sports, Ministry of Education, and Kuala Lumpur City Hall, the event aims to nurture future champions while strengthening community bonds.
Borneo Post
24-06-2025
- Business
- Borneo Post
Affin Bank launches Satok branch, marking confidence in Kuching's development vision
Wan Lizozman (fifth right) and Agil, on his left, and other Affin Bank officials gather for a group photo during the opening ceremony. KUCHING (June 24): Affin Bank Berhad opened a new branch in Jalan Satok yesterday, recognising the area's growing strategic importance as a commercial and administrative centre hub in the state capital. The launch was officiated by State Financial Secretary Dato Sri Dr Wan Lizozman Wan Omar, who represented Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg. 'Satok has long been a central part of Sarawak's development story. 'For over four decades, the constituency was represented by the Premier. The transformation seen here ― from revitalised markets to restored landmarks like the Satok Suspension Bridge ― reflects his visionary leadership,' he said in his speech. He noted that Satok is fast becoming a key node for connectivity and commerce, given its proximity to Petra Jaya, the upcoming Kuching Autonomous Rail Transit (ART) station, and the Hikmah Exchange. The opening of the branch, he said, demonstrates Affin Bank's alignment with Sarawak's urban renewal, digitalisation, and inclusive economic growth goals. Wan Lizozman also urged the bank to continue supporting small and medium enterprises (SMEs) through targeted financing, advisory services, and digital tools, citing their vital role in the state's economic development. 'SMEs are central to Sarawak's Post-Covid-19 Development Strategy 2030. Through tailored financing, digital solutions, and advisory support, Affin can empower local business to innovate, grow, and compete,' he said. He further encouraged the bank to extend its outreach to underserved communities, particularly in rural areas, in order to strengthen financial inclusion and bridge access gaps in banking services. He said Affin's growing presence in Sarawak reflects confidence in the state's economic direction and Satok's transformation under the Premier's long-standing leadership. 'Affin's continued investment in Sarawak ― including digital platforms, SME-focused programmes, and financial literacy efforts ― can help drive the state's transformation into a high-income, innovation-driven economy by 2030. 'I am confident we are heading towards a more inclusive and digitally connected future,' he added. Also present at the launch were Affin Bank chairman Dato' Agil Natt, Affin Group president and chief executive officer Datuk Wan Razly Abdullah, as well as senior officials from Affin Group and Kuching City North Commission (DBKU). Affin Bank Dr Wan Lizozman Wan Omar new branch Satok
The Star
23-06-2025
- Sport
- The Star
From playground to podium, Goh sows Olympics seed through Kidslympic
One for the album: Former mixed doubles shuttler Goh Liu Ying (back row, centre) posing with participants of the Kidslympic programme. PETALING JAYA: Kids can start their journey towards realising their Olympic dreams from a young age thanks to Kidslympic Malaysia. Former shuttler Goh Liu Ying, who captured silver in the 2016 Rio de Janeiro Olympics with Chan Peng Soon in the mixed doubles, started the initiative to encourage more children under the age of 12 to take up sports. In this year's edition, athletics, swimming, 3x3 basketball, volleyball, football, gymnastics and obstacle race will be contested from Oct 10-12 at PNB Merdeka Ventures Stadium in Kuala Lumpur. The event was launched on Sunday, thanks to the partnership with Affin Bank and Watsons Malaysia as the main partners. 'I started Kidslympic with the main intention of helping children develop a better understanding of health and fitness,' said Liu Ying. 'For kids who may be interested in pursuing sports professionally but are still unsure of where their strengths lie, Kidslympic can serve as a platform for them to explore and discover which type of sport suits them best. 'This is actually one of the first sporting events in Malaysia specifically for children under the age of 12. 'It's somewhat similar to National Schools (MSSM) or inter schools championships but without the pressure and competitiveness that often come with it. 'MSSM have limited slots and requires students to go through school-based selections, but Kidslympic is open to all primary school children under 12, giving more kids the opportunity to participate,' added Liu Ying. Liu Ying's achievements as an athlete also spurred her to create Kidslympic. Kidslympic was first held last December and featured five sports – athletics, softball, volleyball, gymnastics and modern pentathlon, where 800 took part.
