KUALA LUMPUR: The Sarawak Chief Minister’s (CM) office has appointed Sim Kheng Boon as the chief executive office of the newly established Sarawak Development Bank Bhd (DBOS), effective August 1 this year.

Following the appointment of the CEO and other professionals in his core team, DBOS will be ready to commence operation by Jan 1, 2018, the CM’s office said in a statement today.

Sim will be fully supported by the Board of DBOS comprising its chairman and State Secretary, Tan Sri Mohamad Morshidi Abdul Ghani as well as other members Sharkawi Alis, Christopher Adrian and Datu Laura Lee Ngien Hion.

Sim graduated with a Degree of Commerce (Hons) from the University of Windsor, Ontario, Canada, and is also an associate member of the Asian Institute of Chartered Banker.  

With over 30 years of extensive experience and skills in the financial industry, he is a recognised and reputable corporate figure in the industry, having served as Executive Director (East Malaysia) at Kenanga Investment Bank Bhd from 2012 to 2015.

He had also served with AmBank AmInvestment Bank Bhd for almost 30 years, with his last position being the Director, for the Sarawak region. Sim joined AmInvestment Bank in 1983 in line functions and was promoted to key managerial positions with significant leadership roles.

“During his tenure with Ambank Group, he was instrumental in grooming Sarawak–based companies for public listing besides providing corporate advisory services in fund raising via capital markets, corporate structuring as well as financial advisory on merges of acquisitions,” the CM’s office said.

Prior to his recent resignation from Zecon Bhd, Sim served as its independent director.

The Edge Malaysia had on July 10 reported that plans to set up DBOS were first announced in April this year, three months after Datuk Amar Abang Johari Openg was sworn in as Chief Minister.

He reportedly said Bank Negara Malaysia had given its approval for the establishment of the bank to finance strategic projects — ICT infrastructure (digital economy), energy sector (power generation and oil and gas), urban public transport and services such as healthcare — in Sarawak.