(This is reproduced from the posting I made on my Facebook Page on 21st October 2025.)

As a Sarawakian, I take pride in the development of my home state, as it embarks on a new era of growth on various fronts. The private sector, particularly the bigger companies which are public listed, too is stepping up to the challenge. I haven’t been keeping tabs on the number of public listed companies (PLC) based in Sarawak, until someone mentioned in passing that he was curious why those entities continue to conduct their core businesses in the state and don’t move their headquarters to Kuala Lumpur and make Peninsula Malaysia their main market.

The better known Sarawak-based listed companies are the likes of Ta Ann, Zecon, Cahya Mata Sarawak, Shin Yang, Samling, Dayang Enterprise, Ibraco and Pansar, among others. Based on a 2-year old data from Bursa Malaysia, Sarawak records only 35 out of about 1000 companies listed on the stock exchange. The 35 companies collectively command a market capitalization of less than RM18 billion, and that includes several big caps state-linked corporations like Sarawak Oil Palm and Bintulu Port. Bursa has in the past conducted initial public offering (IPO) workshops to attract eligible companies in the state to go for listing status.

It has been pointed out to me that HCK Capital Group and SEG International (SEGi) are unique or unusual in the sense that while they’re controlled by a Sarawakian, their core businesses are not conducted in Sarawak but are fully Peninsula-based. My 2 listed groups have a combined market value of RM2.25 billion at the time of writing. I don’t have the privilege or opportunity to be awarded multi-billion ringgit tenders, projects or concessions from the state, so I guess I’ll have to focus on the consumer market – the bigger, the better.

In the near future, I believe more East Malaysians, from both Sarawak and Sabah, will come over and gain control of listed entities based in the Klang Valley and compete with the big players nationwide in all industries. That’s where most of the action is and where I believe the playing field is becoming more levelled over the years. What we hope to witness here is a holistic integration of West and East Malaysians, not just of their culture and mindset, but of their commercial activities as well. I’m confident that where Sarawakians go, Malaysia grows.