KUCHING, Jan 15 — Sarawak Chief Minister Datuk Patinggi Abang Johari Openg gave an assurance today that the state government won’t interfere in the running of the Development Bank of Sarawak (DBoS) although it is the sole shareholder.
“The bank will run professionally like any other commercial business and no politicians will be appointed in the board,” he told reporters after launching the bank’s commercial operations at Menara SEDC Isthmus here today.
Abang Johari however said the bank will have to submit its annual report to the state government to report if it’s making money or otherwise.
He said DBoS, which was incorporated on May 11 last year with a paid up capital of RM500 million, will start giving out loans after the completion of application process, most of which are from the state agencies and state-linked companies.
DBoS is also looking at a few projects in its pipeline, but the bank won’t be revealing the details and nature of the projects.
“This is because all banking information is subjected to its confidentiality policy as well as its non-disclosure agreements with all the clients,” he said.
The chief minister said the bank will focus on development projects which the state government will be involved in, including digital economy, urban public transportations, renewable energy or power generations, oil and gas industries, healthcare, modern agricultures and infrastructures.
Abang Johari said the bank will carry out commercial activities with the proposed sources of funding from grants received from the state government, capital injection from DBoS holding company, government deposits and from fund raising exercises by way of bank borrowings.
