| Sabah is looking to develop its own sovereign wealth fund Sabah Development Bhd in the fashion of Khazanah Nasional Bhd, which is wholly owned by the federal government, sources say. It is understood that the final details such as what assets will be injected into the entity are being discussed now, and the plan has been gestating for more than a year.
The plan is for the Ministry of Finance of Sabah to control the entity. The initial plan [involves Sabah Development having] a presence in a few sectors such as oil and gas, financial services and infrastructure, and possibly even one unit conducting strategic investments, a source says...............................................Full Article: Source
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