KUCHING, May 23 — Batu Lintang assemblyman See Chee How today urged the Sarawak government to brief the state assembly on the details and quantum of losses suffered in the investment by its agencies and government-linked companies in Serba Dinamik Holdings Berhad.
He said Sarawak Premier Tan Sri Abang Johari Openg should also enlighten the august house on whether independent due diligence had been conducted by the state government, including the various state authorities and corporations before decisions are made to invest in companies.
“The Serba Dinamik Integrated Report 2021 shows, that as of December 2, 2021, the state financial secretary has 159.5 million shareholdings and 36 million warrant holdings, while Lembaga Kemajuan Bintulu has 21 million shareholdings and six million warrant holdings, in the Serba Dinamik Holdings Berhad,” See said during the debate on the opening address of the state assembly sitting by the Governor Tun Abdul Taib Mahmud.
He said the showing of the state’s investment in Serba Dinamik Holding Berhad reflected the enormous tasks that the state has at hand.
He asked for the state’s plans on recouping the enormous losses in the public fund.
“The premier should also enlighten this august house whether there were or are independent due diligence conducted by the Sarawak government, including the various state authorities and corporation before decisions are made to invest in companies.
“To better our governance, maybe we should immediately formulate and implement the investment mandates and guidelines to ensure that all our state investments will deliver good returns to Sarawak and all our Sarawakian people.
“We must act immediately to show our political will and commitments to reform our state institutions,” See said.
He said the legal issues and tussles between related parties aside, the federal attorney general had on May 13, 2022, publicised reasons for compounding, instead of prosecuting Serba Dinamik Holdings Berhad and its executives, for purported offences under Section 369(a)(B) of the Capital Markets and Services Act 2007.