Sarawak premier Abang Johari Openg said the state Cabinet has approved Sulong’s appointment as well as eight other members of the board, comprising finance and investment experts, and professionals.

They are Limar Group chairman Leonard Linggi Jugah, former Petronas chairman Ahmad Nizam Salleh, former Shell Malaysia chairman Iain John Lo, Grainne Dooley, Mohsen Fahmi, Permodalan Nasional Berhad director Soedirman Aini, Sarawak attorney-general Talat Mahmood Abd Rashid, and state financial secretary Wan Lizozman Wan Omar.

Abang Johari said Sulong has more than 30 years of legal and judicial experience, and served with the Sarawak government for 17 years in various capacities.

“The diverse and extensive experience and strong credentials of the distinguished professionals will be of great advantage to the fund in achieving its objectives,” he said, in unveiling the board.

He said the state government aims for the fund to commence in 2024 after structural and governance frameworks are put in place.

Sarawak is setting up a sovereign wealth fund with an initial amount of RM8 billion to strengthen the state’s financial sustainability.

On Nov 22 last year, the state assembly unanimously passed the Sovereign Wealth Future Fund Board Bill 2022.