: DAP Pujut assemblyman Dr Ting Tiong Choon has recommended that the Public Accounts Committee conduct a full investigation on Amanah Saham Sarawak , a Sarawak government-linked investment holding company.
He told the House that it was set up in 1993 with the aim of providing opportunity for Sarawak Bumiputras to enter mainstream cash and equity economy collectively. The net asset of ASS dropped by 62% in 2018, from RM35 million to RM13 million, with most of the asset in cash or bank deposit or non-trading stocks, he said.
Ting said it was also interesting to note that ASS had a current liability of more than RM18 million to the fund manager as on Dec 31, 2018, and it was inconceivable that the fund would be making profit again.
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