Yayasan Sarawak Yayasan Sarawak
Latitude & Longitude 1.62486, 110.34387
To be a world class foundation We are committed to advancing the development of quality human capital in Sarawak through effective assistance and support ” - Sarawak Foundation’s Mission in developing in Sarawak quality human capital “ ”
Corporate Profile Chairman’s Message Director’s Statement Board of Trustees Corporate Governance Management Team Assistant Directors & Head of Sections Corporate Highlights Organization Achievements Project Highlights Group of Companies Financial Report Members of the Board of Trustees Statement by the 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 Statements of Changes in Equity Consolidated Statement of Cash Flows Notes to the Financial Statements contents 1 2 3 12 13 14 16 18 21 22 24 27 28 29 30 31 35 36 37 39 43
HEADQUARTERS Wisma Adenan Jalan Sultan Tengah, Petra Jaya, 93050 Kuching, Sarawak, Malaysia. Tel: +6 082-441 686 Fax: +6 082-440 023 Email: [email protected] www.yayasansarawak.org.my 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
Annual Report 2021 Sarawak Foundation 1 corporate profile 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 Objects of the Foundation To grant scholarships or to provide financial assistance of any form to any person born in 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 or proper. Actively to promote 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. 2 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. 4 1 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. 3 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. 5 To make contribution and provide assistance towards the relief 6 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. Common Shared Values • Integrity • Sense of Urgency and Ownership • Kind and Caring • Team Spirit • Professionalism • Result-Oriented 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 for 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 developed state.
2 Sarawak Foundation Annual Report 2021 chairman’s message “ ” It is with great pleasure that I present the annual report of Sarawak Foundation for the year 2021 in my fifth year as its Chairman. The foundation has made numerous achievements since its establishment 50 years ago. The successes are largely attributed to the undivided commitment and support of our employees and multi-stakeholders. 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 in 1971. The State Government has envisioned Sarawak as a developed state by the year 2030 and the foundation has been entrusted as an implementing body of the State’s education policies as we believe that education and human capital development is of paramount importance to achieve the developed state status. Toward this end, the State Government has increased the allocations for scholarships and loans for students to further their tertiary education, including at selected top international universities overseas. This has been made possible after the foundation was able to increase its revenue significantly following the upward revision of the timber premium rate charged on its concessions. With stronger financial standing, the number of students pursuing medicine and other selective disciplines have also been increased in line with our pursuit towards Industry Revolution 4.0. capabilities. The foundation has been tasked with the management of all the three state-owned private universities, namely Curtin University Malaysia, Swinburne University of Technology Sarawak Campus, and University College of Technology Sarawak (UCTS); and all five International Secondary Schools that are expected to be operational by year 2023. The international schools will offer subjects based on international syllabuses such as the Cambridge syllabus. The schools will be fully residential and are meant for all Sarawakians who are qualified irrespective of race, particularly those from rural areas. The foundation has also been tasked to play a vital role in developing technical and skills-based education to spearhead the skilling, reskilling and upskilling of school leavers and workers through the Centre of Technical Excellence (CENTEXS). CENTEXS campuses have been set up in Kuching, Lundu, Betong, Mukah, Dalat and Lawas for this purpose. We pride ourselves to be among the pioneer state institutions in the country that have been providing free bus service under the Free School Bus Program and Free Tuition Voucher to deserving primary and secondary school students throughout Sarawak. At the same time, the Foundation is continuing with its programme of giving Local Scholarships, School Uniform Voucher and Free Reading Book Program, among others, to students. In closing, I wish to express my sincere appreciation and gratitude to our Members of Board of Trustees, management and staff members for their dedication to achieve our purpose and live up to our values in our endeavour to make Sarawak Foundation a world class organization in human capital development as envisioned in our Clients’ Charter. Happy 50th Anniversary, Yayasan Sarawak! Thank you. Assalamualaikum Warahmatullahi Wabarakatuh, Salam Sejahtera DATUK PATINGGI (DR) ABANG HAJI ABDUL RAHMAN ZOHARI BIN TUN DATUK ABANG HAJI OPENG Chief Minister of Sarawak Chairman of Sarawak Foundation 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.
Annual Report 2021 Sarawak Foundation 3 “ ” director’s statement 2021 Asset RM3.33 Billion This year marks the 50th anniversary of the Sarawak Foundation. This 50th year shows that the Sarawak Foundation is still standing firm since 1971 in order to become a worldclass foundation in developing quality human capital in Sarawak. However, the year 2021 was challenging for the Sarawak Foundation as the COVID-19 pandemic was still ongoing. Approaches to prevent and stop the spread of the COVID-19 virus were being continuously implemented within the foundation. Despite facing increased cases of COVID-19 infection in the middle of 2021, we, Sarawak Foundation, remain committed to assisting our stakeholders. It has been quite a year since the pandemic shook the world. Therefore, the Sarawak Foundation did what we do best and got to work, more determined than ever to provide our services to the students, schools, and the general public. Your support on our objectives has meant the world to our team and the communities we serve. Regardless of the fact that we are struggling with COVID-19, I am pleased to announce that Sarawak Foundation has consistently maintained a strong financial position and a clear financial profile throughout the years. Since the organisation was founded exactly 50 years ago, it has produced multiple accomplishments. This achievement is primarily due to the unwavering commitment, support, and cooperation of our staff and multiple stakeholders. The Management and Board of Trustees of the Sarawak Foundation have worked closely together to establish and safeguard for our core operations and enhance the foundation’s resilience. We have continuously strengthened our student loan and scholarship programmes throughout 2021. The Foundation has given RM97.28 million in assistance for both scholarships and study loans, a great performance that represents a 16.01% percent growth from the previous year. FINANCIAL PERFORMANCE Assalamualaikum Warahmatullahi Wabarakatuh, Salam Sejahtera In 2021, Sarawak Foundation’s total asset is RM3.33 billion, an increase from RM2.19 billion in 2020. The asset growth in Year 2021 is 16.01%, an increase in comparison to the asset growth of 15.77% in Year 2020. The surplus after tax for Sarawak Foundation for the year 2021 shows an increase at RM128.20 million compared to RM98.50 million in 2020, comprised of RMK-12 Grant received by Yayasan Sarawak. The financial performance for the Year 2021 is prepared with taking into account of the reversal of impairment loss or impairment loss for the year as required under Section 27 of MPERS whereby the holding company must recognize reversal or impairment loss if the net carrying value is lower than the future undisclosed cash flow of the same asset. Sarawak Foundation was also able to meet the 50% tax requirement under Section 44(6) Income Tax Act 1967, which requires an approved institution to spend 50% previous year income in year of assessment. 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.
4 Sarawak Foundation Annual Report 2021 Board 2021 (RM) 2020 (RM) Variance (RM) Percentage (%) Timber Premium 3,284,877 3,392,024 (107,147) -3.16 Interest 17,430,964 21,828,060 (4,397,096) -20.14 Rental 3,804,229 4,058,957 (254,728) -6.28 Profit on Sale of Investment 1,562,845 4,901,254 (3,338,409) -68.11 Dividend 13,422,586 13,418,137 4,449 0.03 Other Income 236,166,977 234,989,188 1,177,789 0.50 RMK-12 Grants 56,067,042 20,139,090 35,927,952 178.40 331,739,520 302,726,710 29,012,810 9.58 Total Revenue for the Year 2021 RM331,739,520 Sarawak Foundation’s total revenue for 2021 was RM331.74 million compared to RM302.73 million in 2020. The increase by RM29.01 million or 9.58% recorded was mainly from dividend, other income and RMK Development Projects. Increased by 2021 Table 1: Sarawak Foundation’s Total Revenue for 2021 and 2020 (RM) 9.58% RM331,739,520 Total Revenue 2020 RM307,726,710 director’s statement (con’t)
Annual Report 2021 Sarawak Foundation 5 incentives beginning in June until December 2021. The significant increase in RMK-12 Grants from RM 20.14 million in 2020 to RM 56.07 million in 2021 is primarily due to operating grants received, which are intended for the development of educational institutions such as CENTEXS, Yayasan Sarawak International 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’ (i-GPS), and others. Due to the impact of the economic slowdown in Year 2021, the timber premium, interest income, rental, and profit on sale of investment showed a slight decline. Dividends from investments, on the other hand, increased by RM4,449 or 0.03% in 2021. Other operating income for the year 2021 increased from RM236.17 million to RM234.99 million due to Government Grants for projects and Education Grants received. The slight decrease in rental income from RM4.06 million in 2020 to RM3.80 million in 2021 is due to the government continuing its assistance to Small and Medium Enterprises Chart 1: Sarawak Foundation Revenue for 2021 and 2020 (RM) Total Premium 0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 Interest Rental Profit of Sale on Investment DIvidend Income RMK-12 Grant Revenue 2021 2020 Annual Report 2021 Sarawak Foundation 5
6 Sarawak Foundation Annual Report 2021 Board 2021 (RM) 2020 (RM) Variance (RM) Percentage (%) Staff Cost 7,451,872 7,006,106 445,766 6.36 General Administration 10,207,340 9,413,766 793,574 8.43 Grants & Donations 107,269,858 92,800,775 14,469,083 15.59 Scholarship 40,664,069 28,129,839 12,534,230 44.56 Conversion to Scholarships 5,984,742 5,818,741 166,001 2.85 Depreciation 3,813,482 4,592,496 (779,014) -16.96 Impairment Loss on Investment 29,143,634 56,459,437 (27,315,803) -48.38 204,534,997 204,221,160 313,837 0.15 Total Expenditure for the Year 2021 RM204,534,997 The Foundation’s total expenditure for 2021 has increased slightly by RM313,837, or 0.15%. The Sarawak Foundation increased its grant and donation disbursement by RM14.47 million, or 15.59%, in 2021 compared to 2020. Additional funding was provided for operating grants to Kolej Laila Taib, the University of Technology Sarawak, and the Centre of Technical Excellence Sarawak (CENTEXS). Scholarships increased by RM12.53 million in comparison to Year 2020, as Sarawak Foundation continues to play a role in providing financial assistance to eligible students studying locally and abroad. The existing scholarship schemes, such as the Yayasan Sarawak Tun Taib Scholarship and the Medical Program Scholarship, have attributed 60% to 70% of the annual tuition as the latter programme have been implemented up to Cohort 4 in 2021. The total expenditure for fiscal years 2021 and 2020 includes tax paid to the Inland Revenue Board, which attributes to less than 0.03% and 0.02%, respectively. Increased by 2021 Table 2: Sarawak Foundation’s Total Expenditiure for 2021 and 2020 (RM) 0.15% RM204,534,997 Total Expenditure 2020 RM204,221,160 director’s statement (con’t)
Annual Report 2021 Sarawak Foundation 7 Scholarship disbursements of RM40.66 million increased by RM12.53 million or 44.56% in 2021 compared to RM28.13 million in 2020. The number of Yayasan Sarawak Tun Taib Scholarship recipients has increased from 174 in 2020 to 250 in 2021. Furthermore, the number of recipients of the BP40 Bursary Scheme has increased drastically from 99 in 2020 to 202 in 2021. Chart 2: Sarawak Foundation Expenditure for 2021 and 2020 (RM) Staff Cost 0 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 General Administration Grants & Donations Scholarship Conversion of Scholarships Depreciation Impairment Loss on Investment Expenditure 2021 2020 120,000,000 Annual Report 2021 Sarawak Foundation 7
8 Sarawak Foundation Annual Report 2021 director’s statement (con’t) 5,000,000 BP40 Bursary Scheme Bantuan Kemasukan ke IPT Insentif Graduan Pulang Sarawak (i-GPS) Biasiswa Tempatan Yayasan Sarawak (BTYS) Biasiswa Khas Program Perubatan Yayasan Biasiswa Sarawak Tunku Abdul Rahman (YBSTAR)* Biasiswa Yayasan Sarawak Tun Taib (BYSTT) The various scholarship schemes offered are the Biasiswa Yayasan Sarawak Tun Taib (BYSTT), Yayasan Biasiswa Sarawak Tunku Abdul Rahman (YBSTAR), Biasiswa Khas Program Perubatan, Biasiswa Tempatan Yayasan Sarawak (BTYS), Bantuan Kemasukan ke IPT and payment grants such as Insentif Graduan Pulang Sarawak (i-GPS) and BP40 Bursary Scheme. For 2021, the scholarship disbursement amount has increased by 26.12%, from RM34.11 million to RM43.02 million in 2020. However, the total beneficiaries has reduced by 43.62%, from 20,238 in 2020 to 11,410 in 2021. RM43,019,565 11,410 Beneficiaries RM34,106,988 20,328 Beneficiaries SCHOLARSHIP Chart 3: Sarawak Foundation Scholarship Disbursement for 2021 and 2020 (RM) Disbursed Amount 2020 (RM) Disbursed Amount 2021 (RM) 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. The amount disbursed for scholarship loans has increased by RM9.09 million for 2021, from RM45.17 million in 2020 to RM54.26 million in 2021. The total number of beneficiaries has increased by 26.05% from 4,926 in 2020 to 6,209 in 2021. RM 54,256,753 6,209 Beneficiaries RM 45,169,354 4,926 Beneficiaries SCHOLARSHIP Loan 0 10,000,000 15,000,000 20,000,000 5,000,000 Sarawak Higher Education Fund Scholarship - Loan (HiED)* Education Scholarship - Loan (Technical) Education Scholarship - Loan (Overseas) Education Scholarship - Loan (Local) Chart 4: Sarawak Foundation Programs and Assistance Disbursement for 2021 and 2020 (RM) 2020 2021 0 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000
Annual Report 2021 Sarawak Foundation 9 The Programs and Assistance carry out education and community 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. The amount spent for programs and assistance has slightly decrease by RM0.83 million or 6.92% from RM12.05 million in 2020 to RM11.22 million in 2021. Total number of beneficiaries slightly increased from 31,903 in 2020 to 33,715 in 2021 or 5.68%. RM11,216,531 33,715 Beneficiaries RM12,050,390 31,903 Beneficiaries PROGRAMS & ASSISTANCE Excellent Graduate Award 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 Reading Material Assistance Program High Performing Rural School (HiPERS) School Uniform Assistance Program Community Educaation Program Student Exchange Scholarship Program 2020 2021 Grants & Assistances Sarawak Foundation & Education Department Collaboration Program Anugerah Khas Ketua Menteri Sarawak (AKKMS) Excellent Students’ Awards Chart 5: Sarawak Foundation Programs and Assistance Disbursement for 2021 and 2020 (RM)
10 Sarawak Foundation Annual Report 2021 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. Application and approval in the fourth quarter of the year would not be reflected until the following year. LOAN CONVERSION TO SCHOLARSHIP 50% 75% 25% 30% CONVERTED PERCENTAGE BENEFICIARIES 95 NA 332 64 100% 339 director’s statement (con’t) RM5,984,742 654 Beneficiaries Chart 6: Sarawak Foundation Loan Conversion Scholarship Disbursed for 2021 and 2020 BENEFICIARIES 107 5 287 160 95 RM5,818,741 830 Beneficiaries
Annual Report 2021 Sarawak Foundation 11 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 2021 RM1,386,577,682 2020 Revenue RM1,386,577,682 Expenditure RM472,758,994 Revenue RM523,799,794 Expenditure Group’s RM394,037,694 Revenue vs. Expenditure Group’s Revenue At the Group level, revenue increased by RM862.78 million in 2021, from RM523.80 million in 2020 to RM1,386.58 million in 2021. The recognition of RM743.12 million net fair value gain on a business combination has contributed to a significant increase in revenue in 2021. This was reflected in Sarawak Foundation’s acquisition of Edusar Holdings Sdn Bhd in 2021, which is primarily to manage Kolej Laila Taib and the University of Technology Sarawak (UTS). 2021
12 Sarawak Foundation Annual Report 2021 DEPUTY CHAIRMAN YB Datuk Amar Haji Mohamad Abu Bakar Bin Marzuki State Secretary CHAIRMAN YAB Datuk Patinggi (Dr) Abang Haji Abdul Rahman Zohari Bin Tun Datuk Abang Haji Openg Premier of Sarawak board of trustees 12 Sarawak Foundation Annual Report 2021 1. YBrs. Haji Mersal Bin Abang Rosli Secretary Director of Yayasan Sarawak 2. YBhg. Dato Peter Minos 3. YBhg. Datu William Lee Boon Tong 4. YBhg. Dato Sri Gramong Juna 5. YBrs. Dr. Norisah Binti Suhaili State Education Director 6. YBhg. Datu Dr. Sabariah Putit Deputy State Secretary (Operations) 7. YBhg. Dato Sri Dr. Haji Wan Lizozman Bin Haji Wan Omar State Financial Secretary MEMBERS From left to right
Annual Report 2021 Sarawak Foundation 13 corporate governance Education Committee Audit Committee Annual Report 2021 Sarawak Foundation 13 CHAIRPERSON • Chairman of Sarawak Foundation MEMBERS • Sarawak State Secretary • Deputy Chairman of Sarawak Foundation • YBhg. Datu Ismawi bin Haji Ismuni • YBhg. Dato Sri Gramong Juna • Representative of the Governor of Central Bank Malaysia CHAIRPERSON • Deputy Chairman Of Sarawak Foundation MEMBERS • State Financial Secretary • State Attorney General • Director of State Human Resource Unit • YBhg. Datu William Lee Boon Tong Investment Committee Tender & Establishment Committee BOARD COMMITEES CHAIRPERSON • YBhg. Datu Dr. Sabariah Putit MEMBERS • State Education Director • YBhg. Dato Peter Minos • Vice Chancellor of University Malaysia Sarawak (UNIMAS) • Rector of University Technology Mara Sarawak (UiTM) CHAIRPERSON • State Financial Secretary MEMBERS • YBhg. Datu William Lee Boon Tong • Director of Sarawak Foundation • Head of Audit & Risk Management
14 Sarawak Foundation Annual Report 2021 Haji Mersal Bin Abang Rosli Director Louis Simon Peter Deputy Director (Education) Mohamad Adzlie Bin Ibrahim Deputy Director (Operation) Watson Chunggat Leornard Doo Principal Assistant Director Education Loan & Repayment Division Zamahari Bin Haji Saidi Principal Assistant Director Scholarship, Programs & Assistant Division Suryani Binti Abdul Hamid Principal Assistant Director Administration, Risk Management & Communication Division Shamsudin Sham Abdullah Principal Assistant Director Investment & Property Division management team
Annual Report 2021 Sarawak Foundation 15 service structure EDUCATION EDUCATION SERVICES Scholarship Programs & Assistance Education Loan Kuala Lumpur Office Repayment Sarawak Foundation House London Taska/Tadika Yayasanku Sayang OPERATION Account Corporate SUPPORT SERVICES Internal Audit & Compliance Integrity COMPLIANCE Performance Management & Quality Risk Management QUALITY Information Technology & System Management Human Resource Management Administration, Assets & Procurement Investment Property, Project & Facility Management Data Management, Information & Public Communication Annual Report 2021 Sarawak Foundation 15
16 Sarawak Foundation Annual Report 2021 assistant directors & head of sections Easmawi Razak Bin Mohamad Eastern Account Section Jolly Bin Marikan Corporate Section Hajijah Binti Morshidi Performance & Quality Management Section Noranne Adam Assim Internal Audit & Compliance Section Mohammad Faisal Bin Jaffar Information Technology & System Management Section Abang Azrianto Bin Bohari Human Resource Management Section Ratnasati Binti Mansor Scholarship Section Zulfiqqar Fadhzely Bin Randy Property, Project & Facilities Management Section Liew Zhe Rong Repayment Section
Annual Report 2021 Sarawak Foundation 17 Temah Binti Ibrahim Administration, Asset & Procurement Section Yantiska Bin Mahmud Education Loan Section Ismalia Bin Bohari Investment Section Haznetta Sarenau Howell Data Management & Public Communication Section Mahathir Bin Mohammad Assistance & Programs Section Azalina Ali Omar Risk Management Section Franklyn Mesat Kujang Yayasan Sarawak Kuala Lumpur Haji Kasubi Bin Bakir Sarawak Foundation House London
18 Sarawak Foundation Annual Report 2021 corporate highlights JANUARY FEBRUARY MARCH APRIL MAY 1 1 Sarawak Foundation Annual Report 2021
Annual Report 2021 Sarawak Foundation 19 JANUARY YAB Chief Minister of Sarawak witnessed the Zakat Payment of the Sarawak Foundation Subsidiaries namely Petronesa Sdn. Bhd. and Sanjung Etika Sdn. Bhd. to the Sarawak Baitulmal Fund. FEBRUARY The Sarawak Foundation through the Sarawak Foundation Club distributed donations to fire victims through the Sekama’s Salvation Army. MARCH The Memorandum of Understanding (MoU) between the Sarawak Foundation and PTPTN for the PTPTN Reimbursement Incentive for Sarawak Children was witnessed by YAB Premier of Sarawak. APRIL The Sarawak Foundation donated laptops to its sponsored students at UKM’s GENIUS@pintar Negara Center in Bangi, Selangor. MAY The Director of Sarawak Foundation handed over the Raya Gawai donations from the Sarawak Foundation Club to Yayasan Sarawak staff. JUNE Handover Ceremony to Tuan Haji Mersal bin Abang Rosli as the 9th Sarawak Foundation Director effective 1 July 2021. JULY Video conference with Sarawak students studying in Egypt and Jordan. AUGUST The Sarawak Foundation was invited as a panel member for a special talk session with students organized by the Sarawak Patriot Club Chapter, Universiti Utara Malaysia (UUM). SEPTEMBER The Sarawak Foundation School Uniform Assistance Handover Ceremony to the District Education Officer to be distributed to eligible students. AUGUST SEPTEMBER JUNE JULY Annual Report 2021 Sarawak Foundation
20 Sarawak Foundation Annual Report 2021 OCTOBER Strategic Plan discussion session for the future direction of the Sarawak Foundation. NOVEMBER University of Technology Sarawak (UTS) Joint Management Meeting. DECEMBER YAB Premier of Sarawak officiated the opening of the Center of Technical Excellence (CENTEXS) in Lundu. CORPORATE HIGHLIGHTS (con’t) 20 OCTOBER NOVEMBER DECEMBER Sarawak Foundation Annual Report 2021
Annual Report 2021 Sarawak Foundation 21 organisation achievements <<< Audited Financial Statements for the Year 2016 <<< Audited Financial Statements for the Year 2017 Audited Financial Statements for the Year 2020 Audited Financial Statements for the Year 2021 Audited Financial Statements for the Year 2019 Audited Financial Statements for the Year 2018 Annual Report 2021 Sarawak Foundation 21
22 Sarawak Foundation Annual Report 2021 project highlights ON GOING DEVELOPMENT PROJECTS Leadership Institute Of Sarawak Civil Service Expected Completion: Q2 – 2024 Yayasan Sarawak International Secondry School (Petra Jaya) Expected Completion: Q2 – 2024 Yayasan Sarawak International Secondry School (Kuching) Expected Completion: Q3 – 2023 22 Sarawak Foundation Annual Report 2021
Annual Report 2021 Sarawak Foundation 23 CENTEXS - Centre of Technical Excellence Sarawak (Dalat) Expected Completion: Q4 – 2023 Kolej Laila Taib, Mukah Expected Completion: Q3 – 2023 CENTEXS - Centre of Technical Excellence Sarawak (Lawas) Expected Completion: Q3 – 2023 Annual Report 2021 Sarawak Foundation 23 Note: Artist Impressions
24 Sarawak Foundation Annual Report 2021 group of 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: 082-511800 | Fax: 082-445666 Senari Synergy Sdn. Bhd. No. 20 & 21, Wisma KAFAZ, Jalan Tun Datuk Patinggi Haji Abdul Rahman Ya’kub, 93050 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: 082-511800 | Fax: 082-445666 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 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. Lot 10751, Ground Floor, CMM Building, Jalan Simpang Tiga, 93350 Kuching, Sarawak Tel: 082-243177 | Fax: 082-233175 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, Sarawak Tel: 082-241566 | Fax: 082-427106 CENTRE OF TECHNICAL EXCELLENCE (SWK) SDN. BHD. (CENTEXS) Providing technicaltraining and education, investment holding. Lot 3759 & 3760, Block 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 Tel: 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 : 016-401 8313 EDUSAR HOLDINGS SDN. BHD. Education (Operation of Sarawak Private International School) Lot 449, Jalan Casuarina, Yayasan Sarawak International Secondary School, Petra Jaya, 93050 Kuching, Sarawak Tel : 016-401 8313 SUBSIDIA RIE S HORNBILL SKYWAYS SDN. BHD. 2nd Floor, Bangunan Yayasan Sarawak, Jalan Masjid, 93400 Kuching, Sarawak 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, Sarawak 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 MERIRAI TIMBER SDN. BHD. c/o Recent Timber Company Sdn. Bhd., Hua Seng Building, No. 112, Lanang Road, P.O. Box 266, 96000 Sibu, Sarawak Tel: 084-311641 HEXZACHEM SARAWAK SDN. BHD. Lot 799, Block 7, Muara Tebas Land District, Jalan Bako, Demak Laut Industrial Park, 93050 Kuching, Sarawak Tel: 082-439201 | Fax: 082-439020 SOP PLANTATIONS (NIAH) SDN. BHD. No. 124-126, Jalan Bendahara, P.O. Box 547, 98007 Miri, Sarawak 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 PETRONESA TRADING SDN. BHD. 2nd Floor, No. 192 & 192A, Al-Idrus Commercial Centre, Jalan Satok, P.O. Box 1576, 93732 Kuching, Sarawak 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 POSITIVE DEAL SDN. BHD. Bangunan Hung Ann, No. 1, Jalan Bujang Suntong, P.O. Box 256, 96007 Sibu, Sarawak Tel: 084-326155 SARAWAK GREEN PLANTATION SDN. BHD. Crown Towers, 88 Jalan Pending, P.O. Box 389, 93706 Kuching, Sarawak Tel: 082-345033 FIRST BINARY PLANTATION (KUCHING) SDN. BHD. Crown Towers, 88 Jalan Pending, P.O. Box 389, 93706 Kuching, Sarawak Tel: 082-345033 | Fax: 082-345678 ASSOCIATE CO MPANIE S OT H ER CO MPANIE S
Annual Report 2021 Sarawak Foundation 25 Swinburne University of Technology, Sarawak Campus Private Higher Educational Institutions State Owned Private Higher Educational Institutions, Technical Institution & School University of Technology Sarawak Curtin University Kolej Laila Taib TECHNICAL INSTITUTIONS Centre of Technical Excellence (CENTEXS) Kuching Mukah Lundu Lawas Betong Dalat SECONDARY SCHOOL Yayasan Sarawak International Education (YSIE)
26 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021
Annual Report 2021 Sarawak Foundation 27 THE BOARD OF TRUSTEES OF YAYASAN SARAWAK (Established under the Sarawak Foundation Ordinance, 1971) AUDITED FINANCIAL STATEMENTS 31 December 2021 Annual Report 2021 Sarawak Foundation 27
28 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021
Annual Report 2021 Annual Report 2021 Sarawak Foundation Sarawak Foundation 29
30 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021
Annual Report 2021 Annual Report 2021 Sarawak Foundation Sarawak Foundation 31
32 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021
Annual Report 2021 Annual Report 2021 Sarawak Foundation Sarawak Foundation 33
34 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021
Annual Report 2021 Sarawak Foundation 35 The accompanying notes form an integral part of the financial statements. Annual Report 2021 Sarawak Foundation
36 Sarawak Foundation Annual Report 2021 The accompanying notes form an integral part of the financial statements. Sarawak Foundation Annual Report 2021
Annual Report 2021 Sarawak Foundation 37 The accompanying notes form an integral part of the financial statements. Annual Report 2021 Sarawak Foundation
38 Sarawak Foundation Annual Report 2021 The accompanying notes form an integral part of the financial statements. Sarawak Foundation Annual Report 2021
Annual Report 2021 Sarawak Foundation 39 The accompanying notes form an integral part of the financial statements. Annual Report 2021 Sarawak Foundation
40 Sarawak Foundation Annual Report 2021 The accompanying notes form an integral part of the financial statements. Sarawak Foundation Annual Report 2021
Annual Report 2021 Sarawak Foundation 41 The accompanying notes form an integral part of the financial statements. Annual Report 2021 Sarawak Foundation
42 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021
Annual Report 2021 Annual Report 2021 Sarawak Foundation Sarawak Foundation 43
44 Sarawak Foundation Sarawak Foundation Annual Report 2021 Annual Report 2021