KOTA KINABALU: Gabungan Rakyat Sabah (GRS) plans to set up a Sabah Sovereign Wealth Fund next year to secure long-term financial stability for future generations if it wins the state election.
GRS manifesto committee chairman Datuk Armizan Mohd Ali (
pic) said the fund, to be created through a new enactment, would channel part of the State’s RM8 billion reserves and future contributions from Sabah’s 40 per cent revenue entitlement.
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He said the initiative aims to reinvest surplus revenue rather than spend it annually, ensuring Sabah’s children inherit a resilient financial base insulated from volatile commodity markets.
Armizan added that the fund would be professionally managed with investment policies modelled after sovereign wealth funds in Sarawak and abroad, forming a key pillar of the transition from the current SMJ plan to SMJ 2.0.
He said Sabah’s progress on its 40 per cent entitlement, coupled with increased Federal allocations and a constructive negotiation platform, strengthens confidence that the State can chart a more stable and self-reliant economic future.
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