Abdullah: DBOS receives total deposit of RM3.45 bln as of Oct 23

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Abdullah Saidol

KUCHING: The Development Bank of Sarawak (DBOS) received a total deposit of about RM3.45 billion as of Oct 23, with credit facilities approved and released standing at RM350 million and RM244 million respectively.

Assistant Minister of Corporate Affairs Abdullah Saidol was responding to a question from Batu Lintang assemblyman See Chee How during the question and answer (Q&A) session at Sarawak State Assembly Sitting (DUN) today.

The breakdown of the depositors at the bank were government-linked companies depositing RM7.5 million, local authorities RM17.6 million, statutory bodies (RM23.2 million) and public sector (RM3.4 billion).

When asked further by  Kota Sentosa assemblyman Chong Chieng Jen on the interest that the bank imposed, Abdullah said that the interest given by the bank depends on the projects and amount involved.

“The bank is adopting the best practises like any other financial institutions in processing this (credit) applications,” he added.

Commencing operation on Jan 15, DBOS was set up to spearhead the strategic economy development in Sarawak.

DBOS is focusing on the development projects which the state is or will be involved in such as digital economy, urban public transport, renewable energy, oil and gas industry, modern agriculture and infrastructure.