On 25 February 2026, the Group Audit &amp; Compliance Committee along with the PASB Chief Executive Officer – YBhg. Datu Haji Mersal had witnessed the hand-over of duties between CGRM Infocomm Sdn Bhd (“CGRM”) and Crowe Corporate Services Sdn Bhd (“Crowe”).<o:p></o:p>Crowe replaces the outgoing firm – CGRM, which had served as the internal audit service provider for the PASB Group of Companies focusing on the non-Securities Commission regulated entities. The change follows the completion of 2 contractual terms spanning 4 years since Year 2022 during which time CGRM had provided valuable contributions in strengthening internal controls.<o:p></o:p>The PASB Group welcomes Crowe as we seek to continuously enhance our internal controls and risk management framework in alignment with the strategic initiatives set out under the Group Strategic Plan 2025-2030.<o:p></o:p>&nbsp;

On 25 February 2026, PASB Group witnessed the official handover of internal audit duties to the newly appointed internal audit service provider for the Group’s non-Securities Commission regulated entities.

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Change of internal audit service provider for Permodalan ASSAR Sdn Bhd (“PASB”)

"YBhg. Datu Haji Mersal shared key insights on PASB's 2026-2030 Strategic Plan, underscoring the importance of timely execution and high-impact initiatives in achieving the organisation's strategic goals and long-term sustainability.He highlighted digitalisation as a critical success factor, alongside the need to strengthen teamwork, creativity, innovation, and cross-functional collaboration in drive effective project delivery.He aspired ASSAR to be a community-integrated organisation, calling everyone to play an active role in contributing towards shared success and meaningful, sustainable outcomes."&nbsp;YBhg. Datu Haji Mersal bin Abang Rosli Chief Executive Officer&nbsp; Pemodalan ASSAR Sdn Bhd (PASB) Group&nbsp;<img class="image_resized" style="width:52.86%;" src="https://cms.permodalanassar.com.my/uploads/Whats_App_Image_2026_01_27_at_10_29_53_AM_1_688b727b7b.jpeg" alt="WhatsApp Image 2026-01-27 at 10.29.53 AM (1).jpeg" srcset="https://cms.permodalanassar.com.my/uploads/thumbnail_Whats_App_Image_2026_01_27_at_10_29_53_AM_1_688b727b7b.jpeg 245w,https://cms.permodalanassar.com.my/uploads/small_Whats_App_Image_2026_01_27_at_10_29_53_AM_1_688b727b7b.jpeg 500w,https://cms.permodalanassar.com.my/uploads/medium_Whats_App_Image_2026_01_27_at_10_29_53_AM_1_688b727b7b.jpeg 750w,https://cms.permodalanassar.com.my/uploads/large_Whats_App_Image_2026_01_27_at_10_29_53_AM_1_688b727b7b.jpeg 1000w," sizes="100vw" width="1000px"> &nbsp;&nbsp;<img class="image_resized" style="width:38.81%;" src="https://cms.permodalanassar.com.my/uploads/Whats_App_Image_2026_01_27_at_10_29_53_AM_58a40a3a7f.jpeg" alt="WhatsApp Image 2026-01-27 at 10.29.53 AM.jpeg" srcset="https://cms.permodalanassar.com.my/uploads/thumbnail_Whats_App_Image_2026_01_27_at_10_29_53_AM_58a40a3a7f.jpeg 209w,https://cms.permodalanassar.com.my/uploads/small_Whats_App_Image_2026_01_27_at_10_29_53_AM_58a40a3a7f.jpeg 500w,https://cms.permodalanassar.com.my/uploads/medium_Whats_App_Image_2026_01_27_at_10_29_53_AM_58a40a3a7f.jpeg 750w,https://cms.permodalanassar.com.my/uploads/large_Whats_App_Image_2026_01_27_at_10_29_53_AM_58a40a3a7f.jpeg 1000w," sizes="100vw" width="1000px">&nbsp;

"My Aspiration is for ASSAR to be integrated into the community-where everyone plays an active role and takes shared ownership in contributing to our collective success and long-term sustainability" – YBhg. Datu Haji Mersal bin Abang Rosli
CEO PASB Group


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PASB GROUP 2026 TOWNHALL SESSION

<h3 style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(0, 0, 0);font-family:Roboto, sans-serif;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;letter-spacing:normal;line-height:1.2;margin:10px 0px 5px;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">YBhg. Datu Haji Mersal bin Abang Rosli</h3><h4 style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(153, 153, 153);font-family:Roboto, sans-serif;font-size:14px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:500;letter-spacing:normal;line-height:1.2;margin:0px;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">Chief Executive Officer</h4><div class="new-line text-justify" style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(54, 77, 89);font-family:&quot;Open Sans&quot;, system-ui, -apple-system, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, &quot;Liberation Sans&quot;, sans-serif, &quot;Apple Color Emoji&quot;, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;, &quot;Noto Color Emoji&quot;;font-size:16px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:justify;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:pre-line;widows:2;word-spacing:0px;">&nbsp;Welcome Message from the CEO<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>YBhg. Datu Haji Mersal bin Abang Rosli<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>Chief Executive Officer, Permodalan ASSAR Group<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>&nbsp;Assalamualaikum Warahmatullahi Wabarakatuh,<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>And a very good day.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>I am honored to assume the role of Chief Executive Officer at Permodalan ASSAR Group and would like to sincerely thank YBhg. Dato Isaac Lugun for his exceptional leadership and dedication over the past three years. His efforts have established a solid foundation for the Group’s ongoing growth.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>Looking ahead, I am committed to working hand-in-hand with all stakeholders to elevate Permodalan ASSAR Group to the new heights. I firmly believe that success is rooted in teamwork - not individual effort - and that our collective strength is essential in achieving our objectives.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>In today’s dynamic environment, agility, responsiveness, and adaptability are more important than ever. As we explore new opportunities and face emerging challenges, I look forward to strengthening our capabilities and building upon the legacy we have inherited.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>Together, let us steer Permodalan ASSAR Group towards a future that is progressive, sustainable, and anchored in integrity, innovation, and shared purpose.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>Thank you.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>&nbsp;Wassalamualaikum Warahmatullahi Wabarakatuh.<o:p style="-webkit-tap-highlight-color:rgba(0, 0, 0, 0);box-sizing:border-box;"></o:p>YBhg. Datu Haji Mersal bin Abang Rosli<o:p></o:p>Chief Executive Officer<o:p></o:p>Permodalan ASSAR Group<o:p></o:p></div>

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Message from CEO

Abang Johari (center) with Uggah (second left) and others during the announcement today.KUCHING (July 5): Amanah Saham Sarawak (ASSAR) has announced a final dividend of 3.5 sen per unit for the financial year ending June 30, 2024, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.He said this involves a total payout of RM16.39 million to be distributed to 57,542 investors, calculated based on the balance of units held as of June 30, 2024.“This brings the total dividend yield for ASSAR to 6 sen per unit, comprising an interim dividend of 2.5 sen per unit and a final dividend of 3.5 sen per unit, with a total distribution of RM28.1 million compared to a net income of RM36.16 million.“Surplus income of RM8.06 million will be retained as reserves for the next financial year,” he said during the announcement at Hikmah Exchange here this afternoon.Abang Johari said ASSAR managed to deliver competitive dividend yields due to satisfactory capital market performance for the financial year 2024, with the equity portfolio playing a crucial role in driving the fund’s performance.Alongside this highly competitive dividend distribution, he asserted that ASSAR is a safe and low-risk investment and savings instrument with a minimum price guarantee mechanism of RM1.00 per unit, which has been ASSAR’s key feature since 1998.“This minimum price guarantee mechanism will continue to play a role in mitigating the impact of economic recessions and severe stock market downturns on ASSAR investors’ capital.“This is because this feature allows ASSAR units to be sold back at a minimum price of RM1 per unit during the guarantee period, regardless of economic or stock market conditions, thereby protecting ASSAR investors from significant capital losses.“This is in line with the socio-economic objectives of ASSAR’s establishment as a low-risk and safe long-term alternative savings scheme,” he added.Also present at the event was Deputy Premier Datuk Amar Douglas Uggah Embas. &nbsp;Link: <a target="_blank" rel="noopener noreferrer" href="https://www.theborneopost.com/2024/07/05/assar-announces-final-dividend-for-fy2024-with-rm16-39-mln-payout/">https://www.theborneopost.com/2024/07/05/assar-announces-final-dividend-for-fy2024-with-rm16-39-mln-payout/</a>&nbsp;

Source: Borneo Post Online, July 5, 2024, Friday

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ASSAR announces final dividend for FY2024 with RM16.39 mln payout

Abang Johari (second left) points at the screen showing ASSAR interim dividend for 2024 financial year. – Photo by Chimon UponKUCHING (Jan 5): Amanah Saham Sarawak (ASSAR) has announced an interim dividend of 2.5 sen per unit for the financial year ending June 30, 2024, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.He said this will involve a total payout of RM11.71 million to be distributed to 57,613 investors, calculated based on the unit holdings as of Dec 31, 2023.“It must be emphasised that the distribution is based on the earnings for the first six months of the current financial year.“This is highly encouraging considering that the restructured ASSAR Fund was only fully invested in July 2023 to achieve optimal asset accumulation, in line with the new investment mandate and strategy of ASSAR,” he said at a press conference at Hikmah Exchange here this afternoon.Abang Johari said the ASSAR Fund restructuring, which was carried out on Oct 21, 2022, had yielded positive results with its Net Asset Value (NAV) per unit steadily increased to RM1.0854 on Dec 31 last year – a growth of 8.54 per cent.He said the gross income generated for the first six months of the current financial year ending June 30, 2024, amounted to RM15.59 million.Of this, he said 49 per cent (RM7.59 million) constituted fixed-income security interest income, 33 per cent (RM5.14 million) resulted from equity/stock sales; while the remaining 18 per cent (RM2.86 million) derived from equity holdings’ dividends, interest income from money market instruments, and capital gains from fixed-income security sales.“After deducting expenses, ASSAR Fund’s net income for those six months totaled RM13.29 million. The new investment strategy of ASSAR, allocating at least 70 per cent of investments in fixed-income securities, has successfully mitigated the volatility of the persistently challenging equity market.“This demonstrates the significance of diversification strategies in managing portfolio risk to generate sustainable and competitive returns,” he added.Also present at the event were Deputy Premier Datuk Amar Douglas Uggah Embas, state secretary Datuk Amar Mohamad Abu Bakar Marzuki and state Attorney-General Datu Saferi Ali.Looking ahead, The Premier foresaw ASSAR to continue generating consistent returns even beyond 2030. This was in view of Sarawak’s potential in the green energy sector, he added.Moreover, Abang Johari said such projection was in line with Sarawak’s target of becoming the prime player of green energy in Malaysia as this can bring in more investments into the state. &nbsp;Link:&nbsp;https://www.theborneopost.com/2024/01/05/assar-announces-interim-dividend-for-fy2024-with-rm11-71-mln-payout/#:~:text=He%20said%20this%20will%20involve,of%20the%20current%20financial%20year.&nbsp;

Source: Borneo Post Online, 5 January 2024, Friday

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ASSAR announces interim dividend for FY2024 with RM11.71 mln payout

Yii, flanked by Khor (right) and Nicholas, inspects the scale model of a Nexus Business Park commercial unit. Seen behind the mayor is Hii.&nbsp;By Eric Edward on May 4, 2024, Saturday at 7:00 AM MIRI (May 4): Green Summit Development Group, a prominent name in the real estate industry, has unveiled its latest project, the Nexus Business Park.The new commercial development is situated at Jalan Miri-Bypass, which connects to the Pan Borneo Highway, linking up the northern and southern regions of Miri.Nexus Business Park Phase 1 consists of 28 units of industrial-sized double-storey semi-detached shoplots and seven lots of commercial vacant land, all signifying the next level of local business environment as it is regarded as the first guarded business park in Miri.Nexus Business Park is strategically located to meet the growing demands for modern, well-equipped commercial spaces here, with its proximity to key amenities and major transportation hubs like the Miri Sentral Bus Terminal.Green Summit Development Group chief executive officer James Hii, in his welcoming speech for the opening event here yesterday, hailed the Nexus Business Park a ‘representing a pioneering venture, a pilot commercial title project with showroom concept through the collaboration between Green Summit Development Sdn Bhd and Miri Industry Sdn Bhd’.“The project’s name ‘Nexus’, which means a ‘central of connection’ is apt, in that it refers to a central hub strategically positioned to facilitate business expansion and trade, serving as the cornerstone of business along Jalan Miri-Bypass.”Hii added that this project was leveraging on the combined strengths of Miri Industrial Sdn Bhd as a prominent player in the industrial business sector and well versed particularly in commercial showroom space utilisation and requirements, and Green Summit Development Sdn Bhd as an established developer with extensive experiences in development.Together, both companies formed MIGS Sdn Bhd, a partnership entity set to carry out the comprehensive development planning, he said.In his remarks, the event’s guest-of-honour Mayor Adam Yii said Miri, being the second largest city in Sarawak, was poised to benefit from this development, noting that the Nexus Business Park project was in line with the Miri City Council (MCC)’s vision of developing Miri into a green, smart and most liveable international resort city.The Pujut assemblyman was also confident that the project would be well-received by commercial buyers ‘in and outside of Miri’.Each unit in Nexus Business Park is meticulously designed to offer maximum functionality and aesthetic appeal. The double-storey layout provides ample space for various business operations, while the semi-detached nature of the units offers a sense of exclusivity and privacy. Phase 1 of Nexus Business Park is scheduled for completion by early 2026. To date, 21 out of the total 28 units have been booked.To know more, go to www.greensummitdevp.com.my.Present also at the launching ceremony were Assar Development Miri Sdn Bhd director Abdul Aziz Yaman, MIGS Sdn Bhd director cum Miri Industrial Sdn Bhd managing director Nicholas Ling, Miri Industrial Sdn Bhd director Alan Ling and Green Summit Development Group managing director Khor Oi Long.&nbsp;Link: <a target="_blank" rel="noopener noreferrer" href="https://www.theborneopost.com/2024/05/04/green-summit-development-group-unveils-nexus-business-park-in-miri/#:~:text=MIRI%20(May%204)%3A%20Green,and%20southern%20regions%20of%20Miri.">https://www.theborneopost.com/2024/05/04/green-summit-development-group-unveils-nexus-business-park-in-miri/#:~:text=MIRI%20(May%204)%3A%20Green,and%20southern%20regions%20of%20Miri.</a>&nbsp;&nbsp;

Source: Borneo Post Online, 5 May 2024, Saturday

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Launching of Nexus Business Park in Miri

Abang Johari (centre) witnesses the signing of the MoU. Also seen are (from left) Wee, Majang, Jan and Awang Tengah.&nbsp;Posted on July 27, 2022, Wednesday at 8:42 PM&nbsp;KUCHING (July 27): The Sarawak government is conducting a study with a view to build a new deep sea port for the southern region following the signing of a Memorandum of Understanding (MoU) between Belgium’s Antwerp-Bruges Port and private parties from Sarawak in Antwerp, Belgium Tuesday.Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg witnessed the signing of the MoU for the proposed development of Tanjung Embang Port at the mouth of Sarawak River near Kuching in collaboration with Antwerp Port and Hubline Berhad.The Port of Antwerp is the second largest international container port in Europe and the 14th in the world while Hubline is a local company involved in bulk shipping logistics services.Abang Johari expressed his confidence that the application of the latest innovation in port management and services will give Tanjung Embang Port an advantage as an efficient port with low cost.“If everything (innovation and technology) is already there and the investors have the confidence, I’m sure this port will thrive,” he said.He said that earlier this month, he was in Singapore to attend a briefing by the consultant on the socio-economic impact of the project involving an area of 109 square kilometres.He also said that the entire Tg Embang peninsula would be developed by ASSAR Group, an investment holding company wholly owned by the state government.Meanwhile, State Economic Planning Unit director Datu Dr Muhammad Abdullah Zaidel at a briefing prior to the signing ceremony said the port with the concept of integration with industrial development is one of two deep sea ports that will be developed under the Post Covid-19 Development Strategy 2030.He said another port would be developed in the northern area of Sarawak as part of a programme to restore and catalyse Sarawak’s economic growth post-Covid-19.Upon arrival at the Port of Antwerp-Bruges, Abang Johari and his entourage were briefed on the development and operation of the port by port officials.He later paid a courtesy call on Jan Jambon, Minister-President of the Government of Flanders and Flemish.Earlier, Abang Johari witnessed a similar signing ceremony between the state government and Melexis Technology to collaborate in the development of integrated micro-chip designs for chips produced in Sarawak.Deputy Premier Datuk Amar Awang Tengah Ali Hasan, Deputy Minister of Infrastructure and Port Development Datuk Majang Renggi, Malaysian ambassador to Belgium and Luxembourg Datuk Ahmad Rozian Abd Ghani and Hubline Berhad executive chairman Dato Richard Wee were also present.&nbsp;Link: <a target="_blank" rel="noopener noreferrer" href="https://www.theborneopost.com/2022/07/27/sarawak-to-conduct-study-on-building-deep-sea-port-at-tg-embang/">https://www.theborneopost.com/2022/07/27/sarawak-to-conduct-study-on-building-deep-sea-port-at-tg-embang/</a>&nbsp;&nbsp;

Source: Borneo Post Online, 27 July 2022, Wednesday

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Sarawak to conduct study on building deep sea port at Tg Embang

Monday, 15 Apr 2024 11:05 AM MYT &nbsp;KUCHING, April 15 — The proposed new Tanjung Embang port for the Kuching and Samarahan areas will be a deep seaport built on reclaimed land, said Datuk Patinggi Tan Sri Abang Johari Tun Openg.The Premier said Sarawak is keen to have its ports modelled after successful ones such as the Port of Osaka in Japan as well as the Port of Shanghai in China.“We’ll build a new port in Tanjung Embang but we will not build it on the cape itself. It will be at the sea and we’ll do land reclamation for the purpose. The waters at the area are still and not wavy and this is also a new way to build ports.“Osaka has done it, Shanghai has done it. So, I believe Sarawak can also do it,” he said during the Gedong District Hari Raya Aidilfitri celebration here last night.He explained the decision to build the new port in the sea on reclaimed land also sought to prevent coastal dredging activities in the area.Once completed, he said the port would help to further develop Kuching and Samarahan divisions.“We don’t need to perform dredging to the beach area in Tanjung Embang because the depth in the sea is enough once the land to build the port has been reclaimed. If it is ready, this port will be connected to the coast and then to Kota Samarahan and Gedong,” he said.Last December, Abang Johari said the Tanjung Embang deep seaport is expected to accelerate demand for Sarawak’s green energy.He said then the mega infrastructure development will be funded by the state to enhance the efficiency of the supply chain associated with green energy operations.Among those present at the Aidilfitri gathering were Abang Johari’s wife Puan Sri Datuk Amar Juma’ani Tuanku Bujang; State Secretary Datuk Amar Mohamad Abu Bakar Marzuki; Deputy Minister of Rural and Regional Development Datuk Rubiah Wang; State Legislative Assembly Deputy Speaker Datuk Idris Buang; Deputy Minister of Utility and Telecommunication Datuk Dr Abdul Rahman Junaidi; Ministry of International Trade, Industry and Investment Sarawak advisor Datuk Seri Mohd Naroden Majais; Batang Sadong MP Rodiyah Sapiee; and Simunjan assemblyman Awla Dris. — The Borneo Post&nbsp;Link: <a target="_blank" rel="noopener noreferrer" href="https://www.malaymail.com/news/malaysia/2024/04/15/sarawak-premier-proposed-tanjung-embang-seaport-to-be-built-on-reclaimed-land-with-osaka-shanghai-as-models/128871">https://www.malaymail.com/news/malaysia/2024/04/15/sarawak-premier-proposed-tanjung-embang-seaport-to-be-built-on-reclaimed-land-with-osaka-shanghai-as-models/128871</a>&nbsp;

Source: MalayMail Online, 15 April 2024, Saturday

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Proposed Deep Sea Port At Tanjung Embang

Thank you for your interest in PASB Group. Malaysia is a land of endless business and investment opportunities. If you have any Business Proposal (eg. Joint Venture / Partnership / Distributorship Proposal, etc.) for us, we would like to hear about it.In our evaluation, we focus on the following aspects:<ul><li>&nbsp;Business idea / concept</li><li>Business model</li><li>Market analysis with future trends</li><li>Products / Target product profiles</li><li>Customers and customer benefits</li><li>Competitive advantage</li><li>Critical success factors</li><li>Intellectual property rights</li><li>Development / business plan</li><li>Time plan and milestones</li><li>Management and organization</li><li>Capital need and use of proceeds</li><li>Budget / Financial and Cashflow projections</li><li>Return on investment / equity</li><li>Ownership / Shareholding structure</li></ul>Kindly send your business proposal via e-mail, fax or postal at the address provided below.Permodalan ASSAR Sdn Bhd Group Business Development Lot 357, Section 5, KTLD Jalan Satok 93400 Kuching Sarawak Malaysia Tel: +60-82-231085 Fax +60-82-232514 Email: enquiry@assar.com.my

Thank you for your interest in PASB Group. Malaysia is a land of endless business and investment opportunities. If you have any Business Proposal (eg. Joint Venture / Partnership / Distributorship Proposal, etc.) for us, we would like to hear about it.

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Change of internal audit service provider for Permodalan ASSAR Sdn Bhd (“PASB”)

PASB GROUP 2026 TOWNHALL SESSION

Message from CEO