ANNUAL REPOR 20 22
Yayasan Sarawak ANNUAL REPOR 20 22
“We are committed to advancing the development of quality human capital in Sarawak through effective assistance and support” To be a in developing in Sarawak Quality Human Capital World Class Foundation SARAWAK FOUNDATION ANNUAL REPORT 2022
Corporate Profile Chairman's Message Director's Statement Board of Trustees Corporate Governance Management Team Assistant Director & Head of Sections Corporate Highlights Organization Achievements Project Highlights Group of Companies FINANCIAL REPORT Members of Board of Trustees Statement by Deputy Chairman and a Board Member Statutory Declaration Report of Auditor General of Malaysia Consolidated Statement of Financial Position Consolidated Statement of Comprehensive Income Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flows Note to the Financial Statement SAR AWAK FOUND ATION ANNUAL REPORT 2022
HEADQUARTER: Wisma Adenan, Jalan Sultan Tengah, Petra Jaya, 93050 Kuching, Sarawak, MALAYSIA. Tel : 6082-440571 / 441686 Fax : 6082-440023 Email : [email protected] Yayasan Sarawak Yellow Flame, representing the ever burning desire to promote the growth of knowledge. Green Prosperity and progress of the State of Sarawak. Blue The clear vision, mission and aspiration of the Foundation. Graduate Yayasan Sarawak’s role in the field of education, providing services in the development of quality human capital. Open Book Represent volumes of knowledge as the foundation in the development of human capital. Y and S Alphabet Acronym for Yayasan Sarawak. The Sarawak Foundation’s logo represents the integration of a dynamic, progressive and innovative organization. The logo reflects the role of Sarawak Foundation in the field of education or the development of human capital. The design of Sarawak Foundation logo uses the integrated geometric form, representing the vision, mission and aspiration of the organization towards achieving a development state. SARAWAK FOUNDATION ANNUAL REPORT 2022
BRANCH OFFICES: Kuala Lumpur Office 2, Persiaran Ampang, 55000, WP Kuala Lumpur Tel: 03-4265 0619 Fax: 03-4266 1972 Sarawak Foundation House, 105 Brondesbury Park, LONDON NW25JL. Tel / Fax : +44 0208 8300165 Sarawak Foundation was established under the Sarawak Foundation Ordinance as a Statutory Body on 27 May 1971. The Objectives as stipulated in the Ordinance are as follows: Section 3: Establishment and Objectives of the Foundation To grant scholarships or to provide financial assistance of any form for the peoples of Sarawak, in particular, and to any Malaysian citizen, in general, to pursue their education in schools, colleges, universities or institutions of higher learning within Malaysia or abroad on such terms and conditions as the Board deems fit. Actively to promote the improvement of opportunities for education for the peoples of Sarawak in particular, and Malaysia in general, both locally and in any institution of higher learning throughout the world, but especially the Universities in Malaysia. To grant, and arrange for the award by other bodies of, scholarships or other educational assistance for the peoples of Sarawak or any Malaysian citizen whenever it deems fit to do so. To give assistance and provide relief, to any person whose circumstances are, in the opinion of the Board, considered to be deserving of such assistance or relief. To provide assistance, by way of loans, grants or otherwise, to organizations or institutions which are organized and governed for scientific, medical, educational, welfare, social or charitable purposes. To make contribution and provide assistance towards the relief of national emergencies or calamities. VISION To be a world class foundation in developing quality human capital in Sarawak. MISSION We are committed to advancing the development of quality human capital in Sarawak through effective assistance and support. MOTTO Education Development Catalyst Towards Quality Human Capital corporate profile SAR AWAK FOUND ATION ANNUAL REPORT 2022 1 COMMON SHARED VALUES Integrity Professionalism Result-Oriented Kind and Caring Team Spirit Sense of Urgency and Ownership
I am proud to say that the foundation has contributed immensely in nurturing Sarawak’s human capital development and uplifting the lives of many Sarawakians since its establishment. DATUK PATINGGI TAN SRI (DR) ABANG HAJI ABDUL RAHMAN ZOHARI BIN TUN DATUK ABANG HAJI OPENG Premier of Sarawak Chairman of Sarawak Foundation In my sixth year as its chairman, it is with great pleasure and a sense of responsibility that I address you at this pivotal moment of our organization's journey. The COVID-19 pandemic brought about unparalleled disruptions, forcing us to confront profound changes in the way we live and work. As we stand on the threshold of the post-COVID era, we must acknowledge and adapt to the new norms that will shape our future. As we reflect on the profound impact of the COVID-19 pandemic, we find ourselves at a unique juncture in history. The challenges and disruptions brought about by this global health crisis have reshaped the world in ways we couldn't have foreseen just a few short years ago. Yet, amid adversity, there lies opportunity, resilience, and the potential for positive change. This post-COVID era is not a return to the old "normal." It is a bridge to a new future that compels us to rethink, adapt, and reimagine how we live, work, and interact. The lessons learned during the pandemic have forced us to examine our priorities, our values, and our place in the world. In this era, the keyword is "evolution." Sarawak Foundation continues to be even more engaged than in past years in carrying out various programmes and offering support for education to the children of Sarawak. This organization's primary objective indeed is to guarantee Sarawak has top-notch human capital. It is not the same as it was in the pre-COVID era because a lot has changed in the post-COVID age. However, these issues are not a barrier; in fact, the Sarawak Foundation is also adjusting to the current circumstances to guarantee that the children of Sarawak receive enough educational support. The carry out the duty. Every programme that the Sarawak Foundation runs is likewise consistently backed and encouraged by the Sarawak Government. The Sarawak Government also must adapt to the new norms immediately to ensure that we can give the best of our service to the people. It's a time to innovate, embrace technology, and build resilience. As we emerge from the pandemic's shadow, we're invited to be more empathetic, socially responsible, and forward-thinking. This transformation is not without its challenges, but our collective response to adversity defines our character. As we navigate the uncharted waters of the post-COVID world, let us do so with courage, collaboration, and compassion. The pages that follow in this guide will help us explore the considerations, strategies, and actions necessary to thrive in this evolved landscape. Moving forward, Sarawak will innovate using data to increase productivity, develop high-value products, improve the safety of our people and assets as well as enhance environmental conservation efforts. Last but not least, as stated in our Clients' Charter, I would like to convey my sincere gratitude and admiration to our Board of Trustees, management, and employees for their dedication to realising our vision and preserving our principles as we work to establish Sarawak Foundation as a leading human capital development organisation. Let us embrace this new chapter with hope, determination, and a commitment to a brighter and more prosperous future for all. Thank you. chairman’s message SARAWAK FOUNDATION ANNUAL REPORT 20222
We can assure you that we are always committed to a regulatory approach that promotes innovation and competitiveness in the most practical and productive management of our service delivery. director’s statement We find ourselves on the cusp of a new era, full of opportunities and problems. We, the Sarawak Foundation put ourselves in a position to not only survive but also prosper in a world that is continuously changing by accepting these new norms and adjusting to the changing environment. Recognizing the revolutionary shifts that have altered our operations as we come out of the unprecedented challenges presented by the COVID-19 epidemic is critical. A plethora of new norms that require our attention, flexibility, and an acute sense of direction have emerged in the post-COVID period. Our organization is at the forefront of this revolutionary time, and to prosper in this changing environment, we must accept these new standards. The organization has achieved a great deal since its founding. I believe this achievement is mainly the result of the consistent dedication, cooperation, and support of our employees as well as the cooperation of many other stakeholders. The Board of Trustees and Management of The Sarawak Foundation have collaborated closely to build and protect the foundation's fundamental functions and to make it more resilient. Our success in this new era will be defined by our ability to embrace change, foster innovation, and remain committed to the values that define us. Let’s move forward with optimism, resilience, and a shared commitment to excellence. We are delighted to say that the Sarawak Foundation has continuously upheld a solid financial position and a transparent financial profile over the years, regardless of our challenges during economic downturn. As our economy started back to stable, it is a good sign for us as we can assist more students in their education. Throughout 2022, we have continued to strengthen our student loan and scholarship programs. The Foundation provided RM125.01 million in scholarship and study loan assistance, a great performance that represents a 28.51% increase over the previous year. FINANCIAL PERFORMANCE 2022 Asset RM2.35 Billion (Board) Sarawak Foundation's total asset is RM2.35 billion in 2022, compared to RM1.82 billion in 2021. While at Group Level, total assets stood at RM3.88 billion compared to RM3.31 billion in 2021. The total asset increased by 28.77% is due to funds received from the Sarawak Government for education assistance and education infrastructure related purposes. The funds were spent under the Scholarship-Loan Schemes and Technical Program whereas education related infrastructure projects are Yayasan Sarawak International Schools, PTPTN Discount Incentives and Development projects for CENTEXS Campuses. Sarawak Foundation was also able to meet the 50% tax requirement under Section 44(6),Para 13 of the Income Tax Act of 1967, which requires an approved institution to spend 50% of its previous year's income in the year of assessment. SAR AWAK FOUND ATION ANNUAL REPORT 2022 3
TOTAL REVENUE FOR THE YEAR 2022 Sarawak Foundation's total revenue for 2022 was RM534.05 million compared to RM331.74 million in 2021. The increase by RM202.31 million or 60.98% recorded was mainly from interest, dividend, other income,RMK Development Projects and reversal of impairment losses in previous years as a result of better performance in 2022. Table 1: Sarawak Foundation’s Total Revenue for 2022 and 2021 (RM) Timber Premium Interest Rental Profit on Sale of Investment Dividend Other Income RMK-11 Grants TOTAL REVENUE 3,624,476 20,396,741 4,660,164 (72,256) 20,298,323 405,636,811 79,501,805 534,046,064 Financial year 2022 (RM) Financial year 2021 (RM) Variance (RM) 3,284,877 17,430,964 3,804,229 1,562,845 13,422,586 236,166,977 56,067,042 331,739,520 339,599 2,965,777 855,935 (1,635,101) 6,875,737 169,469,834 23,434,763 202,306,544 BOARD 2021 331,739,520 2022 534,046,064 60.98% INCREASED RM 534,046,064 Percentage (%) 10.34 17.01 22.50 (104.62) 51.23 71.76 41.80 60.98 SARAWAK FOUNDATION ANNUAL REPORT 20224
Operating revenue activities showed moderate improvement due to economic recovery in Quarter 4, Year 2021. As a result, timber premium and rental income showed a slight increase in 2022 compared to dividend and interest income which increased by 51.23% and 17.01% respectively. Other operating income for the year 2022 significantly increased from RM 236.17 million to RM 405.64 million due to Government Grants for projects and Education Grants received which are intended for the development of educational institutions infrastructure such as Centre for Technology Excellence Sarawak (CENTEXS), Yayasan Sarawak International Secondary Schools, University of Technology Sarawak, Kolej Laila Taib, and continuing programmes such as the Free Tuition Program, Free School Bus Services, ‘Insentif Graduan Pulang Sarawak’ (IGPS), and others. However, sale of investment has shown negative results as the activity is solely dependent on equity and bond markets managed by appointed fund managers. The increase in RMK-12 Grants from RM 56.07 million in 2021 to RM 79.50 million in 2022 is primarily due to continuous RMK-12 projects in 2022, expected to be completed in 2023 and 2024. Chart 1: Sarawak Foundation Revenue for 2022 and 2021 (RM) REVENUE Timber Premium Interest Rental Profit on Sale of Investment Dividend Other Income RMK-11/12 Grants RM3,624,476 RM3,284,877 RM20,396,741 RM17,430,964 RM4,660,164 RM3,804,229 RM-72,256 RM1,562,845 RM20,298,323 RM13,422,586 RM405,636,811 RM21,249,816 RM236,166,977 RM79,501,805 RM56,067,042 FINANCIAL YEAR 2022 FINANCIAL YEAR 2021 SAR AWAK FOUND ATION ANNUAL REPORT 2022 5
TOTAL EXPENDITURE FOR THE YEAR 2022 The Foundation's total expenditure for 2022 has decreased by RM21.54 million or 10.25%. The decrease in impairment loss on investment of RM20.79 million showed better performance of the investment made by Sarawak Foundation. This includes investment in Subsidiary Companies, Associates and Other Investment.However, Scholarship activities increased by RM11.99 million have shown Sarawak Foundation commitment towards education expenditures which include Tun Taib Scholarship, YS-Unimas Medical Program Scholarship, Local School Scholarship and other related activities. Sarawak Foundation committed to play its role in providing financial assistance to eligible students studying locally and abroad. There is an increase in the Conversion to Scholarships from RM5.98 million in Year 2021 to RM8.84 million in Year 2022, an increase of 47.63% as more students excel academically, eligible for the academic incentives offered. The total operating expenditure recorded in 2022 has a significant impact on Sarawak Foundation’s tax requirements under Income Tax Act 1967 and the Management committed to ensure continuing effort in managing its financial health towards developing the State by year 2030. 2021 210,135,993 2022 188,591,916 10.25% DECREASED RM 188,591,916 Staff Cost General Administration Grant & Donation Scholarship Conversion to Scholarships Depreciation Impairment loss on Investment Impairment loss on Student Loans TOTAL EXPENDITURE 7,330,222 11,438,790 87,992,074 52,651,269 8,835,216 3,887,010 8,344,886 8,112,449 188,591,916 Financial year 2022 (RM) Financial year 2021 (RM) Variance (RM) Percentage (%) 7,451,872 10,207,339 107,269,858 40,664,069 5,984,742 3,813,482 29,143,634 5,600,997 210,135,993 (121,650) 1,231,451 (19,277,784) 11,987,200 2,580,474 73,528 (20,798,748) 2,511,452 (21,544,077) (1.63) 12.06 (17.97) 29.48 47.63 1.93 (71.37) 44.84 (10.25) BOARD Table 2: Sarawak Foundation’s Total Expenditure for 2022 and 2021 (RM) SARAWAK FOUNDATION ANNUAL REPORT 20226
Staff Cost General Administration Grant and Donations Scholarship Conversion to Scholarship Depreciation Impairment Lost on Investment Impairment Lost on Student Loans RM7,330,222 RM7,451,872 RM11,438,790 RM10,207,339 RM87,992,074 RM107,269,858 RM52,651,269 RM40,664,069 RM8,835,216 RM5,984,742 RM3,887,010 RM3,813,482 RM8,344,886 RM29,143,634 RM8,112,449 RM5,600,997 FINANCIAL YEAR 2022 FINANCIAL YEAR 2021 EXPENDITURE Chart 2: Sarawak Foundation Expenditure for 2022 and 2021 (RM) SAR AWAK FOUND ATION ANNUAL REPORT 2022 7
SCHOLARSHIP SCHOLARSHIP LOAN The various scholarship schemes offered are the Biasiswa Yayasan Sarawak Tun Taib (BYSTT), Yayasan Biasiswa Sarawak Tunku Abdul Rahman (YBSTAR), Biasiswa Khas Program Perubatan UNIMAS, Biasiswa Tempatan Yayasan Sarawak (BTYS), Bantuan Kemasukan ke IPT, Insentif Graduan Pulang ke Sarawak (i-GPS) and BP40 Bursary Scheme. ............................................................................ SCHOLARSHIP For 2022, the scholarship disbursement amount has increased by 21.50%, from RM43.02 million in 2021 to RM52.27 million.The total beneficiaries showed a significant increase of 96.00%, from 11,410 in 2021 to 22,364 in 2022. The Sarawak Foundation provides Education Loans to students pursuing tertiary education at public and private institutions of higher learning both locally and abroad. The Foundation also provides similar programmes for students to pursue technical education in both public and private technical institutions. ............................................................................ SCHOLARSHIP LOAN The amount disbursed for scholarship loans has increased by RM18.49 million or 34.07%, from RM54.26 million in 2021 to RM72.74 million in 2022. The total number of beneficiaries has shown an increase of 39.33% from 6,209 in 2021 to 8,561 in 2022. Biasiswa Yayasan Sarawak Tun Taib (BYSTT) Yayasan Biasiswa Sarawak Tunku Abdul Rahman (YBSTAR) Biasiswa Khas Program Perubatan UNIMAS Biasiswa Tempatan Yayasan Sarawak (BTYS) Bantuan Kemasukan Ke IPT Insentif Graduan Pulang Sarawak (i-GPS) BP40 Bursary Scheme 10,032,506 7,917,384 5,641,406 5,416,955 19,772,741 19,225,837 2,580,550 2,605,595 6,313,500 5,197,000 4,057,200 1,344,300 3,871,269 1,312,494 2022 2021 Chart 3: Sarawak Foundation Scholarship Disbursed for 2022 and 2021 Local Education Scholarship Loan Overseas Education Loan Technical Training Scholarship Loan Sarawak Higher Education Fund Loan (HiED) 45,401,911 33,825,193 13,957,000 12,032,000 8,351,300 4,478,100 5,034,040 3,921,460 RM 72,744,251 8,561 Beneficiaries RM 54,256,753 6,209 Beneficiaries RM52,269,172 22,364 Beneficiaries RM43,019,565 11,410 Beneficiaries 2022 2021 Chart 4: Sarawak Foundation Scholarship Loan Disbursed for 2022 and 2021 SARAWAK FOUNDATION ANNUAL REPORT 20228
PROGRAMS AND ASSISTANCE The Programs and Assistance carry out education and social welfare programmes in order to improve educational achievement, particularly in rural and sub-urban communities in Sarawak. The Foundation organises community engagement programmes, student excellence recognition, and assistance in the form of grants to Parent-Teacher Associations, schools, and non-governmental organisations (NGOs), including school uniforms and more. ............................................................................ PROGRAMS AND ASSISTANCE The amount spent for programs and assistance has increased by RM4.56 million or 25.66% from RM17.79 million in 2021 to RM22.35 million in 2022. Total number of beneficiaries has significantly increased from 68,268 in 2021 to 162,263 in 2022 or 137.69%. This is due to the increase in the application of grants and assistance and the participation in programs such as Community Education, High Performing Rural Schools (HiPERS) and the Sarawak Foundation and Education Department Collaboration Program. Due to the pandemic in year 2021, Yayasan Sarawak was unable to organise the Anugerah Khas Premier Sarawak (AKPS) event. However, the recipients for year 2021 was combined in year 2022 Anugerah Khas Premier Sarawak (AKPS) event. The English Enhancement Program was newly introduced in year 2022 at Swinburne University of Technology Sarawak, Curtin University Malaysia, Universiti of Technology Sarawak and Kolej Laila Taib to help students excel in the english language, while exposing students to the university life during the one-month program. Student Exchange Program Scholarship Community Education Program School Uniform Assistance Program High Performaing Rural Schools (HiPERS) Excellent Students' Awards Anugerah Khas Premier Sarawak (AKPS) Sarawak Foundation and Education Department Collaboration Program Grants & Assistances Excellent Graduate Award Free Transportation Service for School Students Secondary School Tuition Program English Enhancement Program 624,727.91 539,429.28 1,696,624.56 13,500.00 5,012,652.90 4,826,765.37 2,261,439.72 722,558.30 846,200.00 842,680.00 4,321,703.32 2,711,590.20 4,847,450.00 3,844,350.00 RM158,180.00 0.00 253,125.95 0.00 312,961.08 69,730.00 1,991,499.75 4,201,868.01 26,000.00 15,400.00 2022 2021 Chart 5: Sarawak Foundation Programs And Assistance Disbursed for 2022 and 2021 RM22,352,565 162,263 Beneficiaries RM17,787,871 68,268 Beneficiaries SAR AWAK FOUND ATION ANNUAL REPORT 2022 9
LOAN CONVERSION TO SCHOLARSHIP Incentives based on student academic performance are offered to encourage repayment of the Sarawak Foundation's education loan. The incentives range from 25% to 100%. As stated earlier in the expenditure section of the Foundation's Financial Statement, the conversion of a loan to a scholarship is contingent on the student's performance as well as the timing of application and approval of the conversion. Application and approval in the fourth quarter of the year would not be reflected until the following year. 2022 2021 Chart 6: Sarawak Foundation Loan Conversion Scholarship Disbursed for 2022 and 2021 RM8,835,216 912 Beneficiaries RM5,984,742 654 Beneficiaries INCENTIVE RATE LOAN CONVERSION TO SCHOLARSHIP BENEFICIARIES BENEFICIARIES 25% 30% 50% 75% 100% 25% 30% 50% 75% 84 1 466 240 121 107 5 287 160 95 SARAWAK FOUNDATION ANNUAL REPORT 202210
We can assure you that we are always committed to a regulatory approach that promotes innovation and competitiveness in the most practical and proactive management of our service delivery. Let us pray and hope that the Foundation, both at the Board and Group levels, will continue to strive for and maintain a high level of professionalism in all aspects of service delivery to all of our stakeholders at all times. Thank you. HAJI MERSAL BIN ABANG ROSLI Director of Sarawak Foundation GROUP’S REVENUE FOR THE YEAR 2022 RM 1.01 Billion GROUP’S REVENUE At the Group level, revenue decreased by RM379.62 million in 2022, from RM1.39 billion in 2021 to RM1.01 billion in 2022. The significant increase in year 2021 was due to the recognition of RM743.12 million net fair value gain on a business combination as Sarawak Foundation acquired Edusar Holdings Sdn Bhd, which is primarily managed by Kolej Laila Taib and University of Technology Sarawak (UTS). However, Group Operating Revenue recorded an increase of 64.51% or RM154.43 million attributed by various income sector such as Sales from trading of petroleum products, Contract fee, seminars, course fees and interest income. GROUP’S REVENUE VS EXPENDITURE 2022 2021 REVENUE RM1,006,954,434 EXPENDITURE RM599,132,968 REVENUE RM1,386,577,682 EXPENDITURE RM459,913,365 SAR AWAK FOUND ATION ANNUAL REPORT 2022 11
board of trustees CHAIRMAN YAB DATUK PATINGGI TAN SRI (DR) ABANG HAJI ABDUL RAHMAN ZOHARI BIN TUN DATUK ABANG HAJI OPENG Premier of Sarawak DEPUTY CHAIRMAN YB Datuk Amar Haji Mohamad Abu Bakar Bin Marzuki Sarawak State Secretary Sarawak Education Director YBhg. Datu Dr. Haji Azhar Bin Haji Ahmad YB Tuan Fazzrudin Bin Abdul Rahman Secretary & Sarawak Foundation Director YBrs. Tuan Haji Mersal Bin Abang Rosli YBhg. Dato Richard Wee Liang Huat Sarawak Financial Secretary YBhg. Dato Sri Dr. Haji Wan Lizozman Bin Haji Wan Omar YBhg. Datuk Amar Michael Manyin Anak Jawong Sarawak Federal Secretary YBhg. Dato Sri Gramong Juna YBhg. Dato Ahmad Nadzri Bin Mohd Hassan SARAWAK FOUNDATION ANNUAL REPORT 202212
corporate governance BOARD COMMITTEE Chairman Chairman of Sarawak Foundation Member Deputy Chairman of Sarawak Foundation Sarawak Financial Secretary YBhg. Dato Sri Gramong Juna Representative of Governor of Central Bank Malaysia Investment Committee Chairman Sarawak Financial Secretary Sarawak Attorney General Director of Human Resource Development and Management Unit YBhg. Datuk Richard Wee Liang Huat Deputy Chairman of Sarawak Foundation Member Tender & Establishment Committee Chairman Sarawak Education Director YBhg. Datuk Amar Michael Manyin Anak Jawong YB Tuan Fazzrudin Bin Abdul Rahman YBhg. Dato Sri Gramong Juna YBhg. Datuk Richard Wee Liang Huat Deputy Chairman of Sarawak Foundation Member Education Committee Chairman Sarawak Financial Secretary Member YBhg. Dato Richard Wee Liang Huat Director of Sarawak Foundation Audit Committee SAR AWAK FOUND ATION ANNUAL REPORT 2022 13
management team Louis Simon Peter Deputy Director (Education) Haji Mersal Bin Abang Rosli Director Mohamad Adzlie Bin Ibrahim Deputy Director (Operation) Shamsuddin Sham Abdullah Principal Assistant Director Investment & Property Division Zamahari Bin Haji Saidi Principal Assistant Director Scholarship, Programs & Assistance Division Watson Chunggat Leornard Doo Principal Assistant Director Education Loan & Repayment Division Hajah Suryani Binti Abdul Hamid Principal Assistant Director Administration, Risk Management & Communication Division SARAWAK FOUNDATION ANNUAL REPORT 202214
service structure INTERNAL AUDIT & RISK MANAGEMENT INTEGRITY ACCOUNT CORPORATE INFORMATION TECHNOLOGY & SYSTEM MANAGEMENT HUMAN RESOURCE MANAGEMENT ADMINISTRATION ASSETS & PROCUREMENT INVESTMENT PROPERTY PROJECT &FACILITY MANAGEMENT PUBLIC COMMUNICATION & DATA MANAGEMENT KUALA LUMPUR BRANCH OFFICE SARAWAK FOUNDATION HOUSE LONDON PERFORMANCE & QUALITY MANAGEMENT SUPPORT SERVICES COMPLIANCE OPERATION QUALITY SCHOLARSHIP PROGRAMS & ASSISTANCE YAYASANKU SAYANG NURSERY KINDY EDUCATION LOAN REPAYMENT SCHOLARSHIP, PROGRAMS & ASSISTANCE EDUCATION SERVICES LOAN & REPAYMENT SAR AWAK FOUND ATION ANNUAL REPORT 2022 15
assistant directors & heads of section Easmawi Razak Bin Mohamad Eastern Account Section Hajijah Binti Morshidi Performance & Quality Management Section Jolly Bin Marikan Corporate Section Noranne Binti Adam Assim Internal Audit Section Abang Azrianto Bin Abang Bohari Human Resource Management Section / Integrity Unit Mohammad Faisal Bin Jaffar Information Technology & System Management Section Ratnasari Binti Mansor Scholarship Section Liew Zhe Rong Repayment Section Zulfiqqar Fadhzely Bin Randy Property, Project & Facilities Management Section SARAWAK FOUNDATION ANNUAL REPORT 202216
Temah Binti Ibrahim Administration, Asset & Procurement Section Ismalia Bin Bohari Investment Section Yantiska Bin Mahmud Education Loan Section Haznetta Serenau Howell Public Communication & Data Management Section Azalina Ali Omar Risk Management Section Mahathir Bin Mohammad Assistance & Programs Section Franklyn Mesat Kujang Yayasan Sarawak Kuala Lumpur Haji Kasubi Bin Bakir Sarawak Foundation House London SAR AWAK FOUND ATION ANNUAL REPORT 2022 17
corporate highlights JANUARY FEBRUARY MARCH MARCH MAY APRIL SARAWAK FOUNDATION ANNUAL REPORT 202218
JUNE JANUARY MARCH MAY FEBRUARY JUNE AUGUST AUGUST JULY JULY APRIL Signing ceremony of renewal articulation agreement between Swinburne University of Technology Sarawak Campus and i-Cats University College witnessed by Director of Sarawak Foundation. Interview sessions being conducted for applicants of Biasiswa Yayasan Sarawak Tun Taib (BYSTT). The Sarawak Foundation allocates funds for the HiPERS Program 2022. YAB Premier Sarawak sungkei with students studying in Peninsular Malaysia under the sponsorship of the Sarawak Foundation. Hybrid meetings are held in all districts to ensure the Ekspo Pendidikan Sarawak 2022 Program's success. Celebrating Yayasan Sarawak's 50th Anniversary, which was officiated by YAB Premier of Sarawak. The Swinburne University of Technology Sarawak Campus served as the venue for the Bengkel KEMASAINS HiPERS (South Zone). YAB Premier Sarawak handed STPM 2021 students with scholarships from the Sarawak Foundation. SAR AWAK FOUND ATION ANNUAL REPORT 2022 19
OCTOBER NOVEMBER SEPTEMBER DECEMBER SEPTEMBER NOVEMBER OCTOBER DECEMBER Program Perkampungan Pelajar for Yayasan Sarawak’s sponsored students in Kuching, Sarawak. Hari Kerjaya dan Pendidikan Exhibition held in Lawas District, jointly organized by Yayasan Sarawak and Pejabat Pendidikan Daerah Lawas. Hari Kerjaya dan Pendidikan Exhibition held in Mukah District, jointly organized by Yayasan Sarawak and Pejabat Pendidikan Daerah Daro, Mukah. Education Program, Cakna Anak Sarawak, which took place at University Utara Malaysia (UUM) Kedah, and was completed by the Director of the Sarawak Foundation. OCTOBER NOVEMBER SARAWAK FOUNDATION ANNUAL REPORT 202220
organisation achievements 2021 2021 Audited Financial Statements for the Year 2021 2020 2020 Audited Financial Statements for the Year 2020 2019 2019 Audited Financial Statements for the Year 2019 2018 2018 Audited Financial Statements for the Year 2018 2017 2017 Audited Financial Statements for the Year 2017 Audited Financial Statements for the Year 2022 SAR AWAK FOUND ATION ANNUAL REPORT 2022 21
project highlights LEADERSHIP INSTITUTE OF SARAWAK CIVIL SERVICE Expected Completion: Q4 - 2024 YAYASAN SARAWAK INTERNATIONAL SECONDARY SCHOOL (PETRA JAYA) Expected Completion: Q4 - 2024 (Phase 2) YAYASAN SARAWAK INTERNATIONAL SECONDARY SCHOOL (KUCHING) Expected Completion: Q4 - 2023 SARAWAK FOUNDATION ANNUAL REPORT 202222
CENTRE OF TECHNICAL EXCELLENCE SARAWAK (DALAT) Expected Completion: Q2 - 2024 LAILA TAIB MARITIME ACADEMY, UNIVERSITY OF TECHNOLOGY SARAWAK (MUKAH CAMPUS) Expected Completion: Q4 - 2023 CENTRE OF TECHNICAL EXCELLENCE SARAWAK (LAWAS) Expected Completion: Q4 - 2023 SAR AWAK FOUND ATION ANNUAL REPORT 2022 23
group of companies HORNBILL SKYWAYS SDN. BHD. 2nd Floor, Bangunan Yayasan Sarawak, Jalan Masjid, 93400 Kuching. Tel: 082-412737 / 082-455737 Fax: 082-578737 SHIN FUNG (MALAYSIA) SDN. BHD. Lot 1338, 1st Floor, Jalan Sri Dagang Waterfront Commercial Centre, P.O Box 894, 98008 Miri. Tel: 085-419139 Fax: 085-418639 SUPREME TIMBER PRODUCTS SDN. BHD. No. 66-78, Pusat Suria Permata, Jalan Upper Lanang, P.O. Box 454, 96007 Sibu, Sarawak Tel: 084-216155 THR HOTEL (SARAWAK) SDN. BHD. Level 17 & 18, Menara Shell, No. 211, Jalan Tun Sambanthan, Kuala Lumpur Sentral, 50470 Kuala Lumpur. Tel: 03-27277159 / 03-27277000 Fax: 03-27277105 / 03-27277007 HEXZACHEM SARAWAK SDN. BHD. Lot 799, Block 7, Muara Tebas Land District, Jalan Bako, Demak Laut Industrial Park, 93050 Kuching. Tel: 082-439201 Fax: 082-439020 SOP PLANTATIONS (NIAH) SDN. BHD. No. 124-126, Jalan Bendahara, P.O Box 547, 98007 Miri. Tel: 085-436969 Fax: 085-432929 / 085-481260 SIME DARBY AUSTRAL SDN. BHD. Level 3, Main Block, Plantation Tower No. 2, Jalan PJU 1A/7, Ara Damansara, 47301 Petaling Jaya, Selangor Darul Ehsan. Tel: 08-6255200 POSITIVE DEAL SDN. BHD. Bangunan Hung Ann, No. 1, Jalan Bujang Suntong, P. O. Box 256, 96007 Sibu. Tel: 084-326155 PETRONESA TRADING SDN. BHD. 2nd Floor, No. 192 & 192A, Al-Idrus Commercial Centre, Jalan Satok, P.O. Box 1576, 93732 Kuching. Tel: 082-241566 Fax: 082-427106 AMGREEN GAIN SDN. BHD. Suite 4-1, Level 4, Block C, Plaza Damansara, No. 45, jalan Medan Setia 1, Bukit Damansara, 50490 Kuala Lumpur Tel: 03-20921211 / 03-20959302 Fax: 082-237706 SARAWAK GREEN PLANTATION SDN. BHD. Crown towers, 88 Jalan Pending, P.O. Box 389, 93706 Kuching. Tel: 082-345033 FIRST BINARY PLANTATION (KUCHING) SDN. BHD. Crown Towers, 88 Jln. Pending, P.O. Box 389, 93706 Kuching. Tel: 082-345033 Fax: 082-345678 ASSOCIATE COMPANIES PROGRESSIVE INSURANCE BHD. Sublot 11 & 12, Lots 9966 & 9967, 1st Floor, Premier 101, Jalan Tun Jugah, 93350 Kuching, Sarawak. Tel: 082-572019 Fax: 082-572013 TANAHMAS (SARAWAK) SDN. BHD. Lot 277, Block 5, Jalan Kampung Nyabor 96007 Sibu, Sarawak Tel: 084-333188 Fax: 084-333288 CURTIN (MALAYSIA) SDN. BHD. CDT 250, 98009 Miri, Sarawak Tel: 085-630100 Fax: 085-630088 SACOFA SDN. BHD. 3rd Floor, Menara Zecon, Jalan Satok, 93400, Kuching Sarawak. Tel: 082-416000 Fax: 082-239353 SARAWAK TERTIARY EDUCATION SERVICE SDN. BHD. CDT 250, 98009 Miri, Sarawak Tel: 085-630100 Fax: 085-630088 SINONG PELITA MATU SDN. BHD. Sublot 47, Lot 424, 1st Floor New Township, 96400 Mukah, Sarawak Tel: 084-873257 Fax: 084-872258 SENARI SYNERGY SDN. BHD. No. 20 & 21, Wisma KAFAZ, Jalan Tun Datuk Patinggi Haji Abdul Rahman Ya’kub, 93050 Petra Jaya, Kuching, Sarawak Tel: 082-511800 Fax: 082-445666 SINONG PELITA OIL MILL SDN. BHD. Sublot 47, Lot 424, 1st Floor New Township, 96400 Mukah, Sarawak Tel: 084-873257 Fax: 084-872258 OTHER INVESTMENT COMPANIES LEADERSHIP INSTITUTE OF SARAWAK CIVIL SERVICE SDN. BHD. Conducting training courses and seminars for the stste civil services, statutory bodies, local councils and other corporate bodies. KM 20, Jalan Kuching-Serian, Semenggok, 93250 Kuching. Tel: 082-625166 Fax: 082-625966 PETRONESA SDN. BHD. Dealing in finance of consumer home products, good and commodities. 2nd Floor, No. 192 & 192A,Al-Idrus Commercial Centre Jalan Satok, P.O. Box 1576, 93732 Kuching. Tel: 082-241566 Fax: 082-427106 PETRONESA SERVICES SDN. BHD. Trading in petroleum, contract works, human resource and administrative services. 2nd Floor, No. 192 & 192A,Al-Idrus Commercial Centre Jalan Satok, 93400 Kuching. Tel: 082-241566 Fax: 082-427106 SANJUNG ETIKA SDN. BHD. Investment holding. Block F, Sub-lots 3 & 4, Demak Laut Commercial Centre, Jalan Bako, 93050 Kuching, Sarawak Tel : 082-432157 Fax : 082-432171 POMETIA SDN. BHD. Investment holding. Wisma Adenan, Jalan Sultan Tengah, 93050 Petra Jaya Kuching, Sarawak. Tel: 082-441686 Fax: 082-440023 CENTRE FOR TECHNOLOGY EXCELLENCE (SWK) SDN. BHD. (CENTEXS) Providing technicaltraining and education, investment holding. Lot 3759 & 3760, Blok 9, Salak Land District, Jalan Sultan Tengah, Rampangi Santubong, 93050 Kuching, Sarawak. Tel: 082-846408 SARAWAK CENTRE OF PERFORMANCE EXCELLENCE (SCOPE) Providing corporate training and courses. 1st Floor of Bangunan Yayasan Sarawak, Masjid Road, 93000 Kuching, Sarawak, Malaysia Phone: 082-231230 Fax: 082-231206 YS INTERNATIONAL EDUCATION SDN. BHD. Education (Operation of Sarawak Private International School). Lot 449, Jalan Casuarina, Yayasan Sarawak International Secondary School, Petra Jaya, 93050 Kuching, Sarawak Tel : 016-4018313 EDUSAR HOLDINGS SDN. BHD. Education (Operation of Sarawak Private International School). Wisma Adenan, Jalan Sultan Tengah, 93050 Petra Jaya Kuching, Sarawak. Tel: 082-441686 Fax: 082-440023 SUBSIDIARIES SARAWAK FOUNDATION ANNUAL REPORT 202224
SECONDARY SCHOOL PRIVATE HIGHER EDUCATIONAL INSTITUTIONS Private Higher Educational Institutions, Technical Institutions & Secondary School TECHNICAL INSTITUTIONS SWINBURNE UNIVERSITY OF TECHNOLOGY SARAWAK CAMPUS CURTIN UNIVERSITY MALAYSIA UNIVERSITY OF TECHNOLOGY SARAWAK LAILA TAIB MARITIME ACADEMY, UNIVERSITI OF TECHNOLOGY SARAWAK (MUKAH CAMPUS) CENTEXS (MUKAH) CENTEXS (LAWAS) CENTEXS (DALAT) CENTEXS (KUCHING) CENTEXS (LUNDU) CENTEXS (BETONG) YAYASAN SARAWAK INTERNATIONAL SECONDARY SCHOOL SAR AWAK FOUND ATION ANNUAL REPORT 2022 25
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financial THE BOARD OF TRUSTEES OF YAYASAN SARAWAK (Established under the Sarawak Foundation Ordinance, 1971) AUDITED FINANCIAL STATEMENTS 31 December 2022 report
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