Development Bank of Sarawak
{{Infobox bank
| name = Development Bank of Sarawak Berhad
| logo = Development Bank of Sarawak logo.png
| type = Public limited company
| founded = {{Start date and age|2017|5|11|df=yes}}
| hq_location = Level 2, Menara SEDC, Lot 2878, The Isthmus, Off Jalan Bako
| hq_location_city = 93050 Kuching
| hq_location_country = Sarawak, Malaysia.
| key_people = {{Unbulleted list|Amar Haji Mohamad Morshidi (Chairman)|Laura Lee Ngien Hion (CEO}}
| owner = Government of Sarawak
| parent = Capital Development Resources (Sarawak) Sdn Bhd
| website = {{URL|dbos.gov.my/}}
}}
The Development Bank of Sarawak Berhad (DBOS) ({{langx|ms|Bank Pembangunan Sarawak}}){{cite news |title=DBOS Biayai Pelbagai Projek Infra Hubungkan Seluruh Sarawak |url=https://www.sarawak.gov.my/web/home/news_view/119/28993 |access-date=5 January 2025 |work=Government of Sarawak |date=23 May 2023 |language=ms}} is a bank owned by the Government of Sarawak.
Inspired by the Asian Development Bank and DBS Bank of Singapore, it was incorporated on 11 May 2017 as a public company limited by shares. DBOS is to carry on business as a Development Financial Institution and lending activities with sources of funding from capital injections from DBOS’ holding company, Sarawak Government’s deposits and deposits from Sarawak Government’s statutory bodies and linked companies. Its role is to support the Sarawak Government’s efforts in the development of strategic infrastructure projects.
History
The bank was first approved on 31 March 2017 by Malaysian prime minister Najib Razak.{{cite news |title=Development Bank of Sarawak to boost state economically |url=http://www.beritadaily.com/development-bank-of-sarawak-to-boost-state-economically/ |access-date=20 November 2022 |publisher=Bernama |url-status=usurped |archive-url=https://web.archive.org/web/20180317132743/http://www.beritadaily.com/development-bank-of-sarawak-to-boost-state-economically/ |archive-date=17 March 2018}} The bank's logo was crowd-sourced with a logo design competition among Sarawakians.{{Cite news|url=http://www.theborneopost.com/2017/09/06/rm5000-for-dbos-logo-design-contest-winner/|title=RM5,000 for DBOS logo design contest winner|date=2017-09-05|work=BorneoPost Online {{!}} Borneo , Malaysia, Sarawak Daily News|access-date=2017-11-15|language=en-US}} The bank received a paid up capital of RM500 million when it starts operations on 15 January 2018.{{Cite news|url=http://www.theborneopost.com/2017/11/04/dbos-to-have-rm500-million-in-paid-up-capital-by-jan-2018/|title=DBOS to have RM500 million in paid-up capital by Jan 2018|date=2017-11-03|work=BorneoPost Online {{!}} Borneo , Malaysia, Sarawak Daily News|access-date=2017-11-15|language=en-US}}{{cite news |title=History and Milestones |url=https://www.dbos.gov.my/the-bank/history-milestones |access-date=20 November 2022 |publisher=Development Bank of Sarawak |date=2022 |archive-url=https://web.archive.org/web/20221120014744/https://www.dbos.gov.my/the-bank/history-milestones |archive-date=20 November 2022}} By July 2019, the bank's paid-up capital (money that are not borrowed out) increased to RM 1 billion. In November 2020, the bank is listed inside the Malaysian Ministry of Finance Institution list. By December 2021, the bank's paid-up capital increased to RM 1.4 billion.
Corporate affairs
The first CEO of the bank is Dato Sim Kheng Boon. Deputy state financial secretary Datu Laura Lee Ngien Hion is appointed into the board of directors. DBOS receives deposits from government-linked companies, local authorities, statutory bodies, and the public sector.{{cite news |last1=Teo |first1=Ronnie |title=DBOS – an alternative financing route for Sarawak |url=https://www.theborneopost.com/2019/01/13/dbos-an-alternative-financing-route-for-sarawak/ |access-date=17 June 2022 |publisher=The Borneo Post |date=13 January 2019 |archive-url=https://web.archive.org/web/20210614070209/https://www.theborneopost.com/2019/01/13/dbos-an-alternative-financing-route-for-sarawak/ |archive-date=14 June 2021}} The bank carry out lending activities and allows the depositors to withdraw money anytime.{{cite news |last1=Ten |first1=Marilyn |title=DBOS clarifies that it is mandated to fund state strategic infrastructure projects |url=https://www.theborneopost.com/2020/11/15/dbos-clarifies-that-it-is-mandated-to-fund-state-strategic-infrastructure-projects/ |access-date=17 June 2022 |publisher=The Borneo Post |date=15 November 2020 |archive-url=https://web.archive.org/web/20210611053002/https://www.theborneopost.com/2020/11/15/dbos-clarifies-that-it-is-mandated-to-fund-state-strategic-infrastructure-projects/ |archive-date=11 June 2021}} The bank carries out lending activities to strategic projects in Sarawak such as public infrastructure development, downstream processing in oil and gas sector, tourism, digital initiatives, real estates, agriculture, and green projects.{{cite web |title=Financing solutions |url=https://www.dbos.gov.my/our-business/financing-solutions |publisher=Development Bank of Sarawak |access-date=20 November 2022 |archive-url=https://web.archive.org/web/20221120015506/https://www.dbos.gov.my/our-business/financing-solutions |archive-date=20 November 2022}}
=Finance=
As of 31 March 2022, DBOS received RM 7.16 billion in deposits.{{cite news |last1=Ten |first1=Marilyn |title=Uggah: RM7.16 billion placed in DBOS as of March 31 |url=https://www.theborneopost.com/2022/05/27/uggah-rm7-16-billion-placed-in-dbos-as-of-march-31/ |access-date=18 June 2022 |publisher=The Borneo Post |date=27 May 2022 |archive-url=https://web.archive.org/web/20220615043250/https://www.theborneopost.com/2022/05/27/uggah-rm7-16-billion-placed-in-dbos-as-of-march-31/ |archive-date=15 June 2022}} As of November 2022, total approved loans of DBOS was RM 15.27 billion with drawdown (actual amount of credit paid out to borrowers) of RM 8.93 billion.{{cite news |last1=C |first1=Irene |title=DBOS' total assets grow to RM9.47 bln as of Oct, 2022, says chairman |url=https://www.theborneopost.com/2022/10/30/dbos-total-assets-grow-to-rm9-47-bln-as-of-oct-2022-says-chairman/ |access-date=19 November 2022 |publisher=The Borneo Post |date=30 October 2022 |archive-url=https://web.archive.org/web/20221110204303/https://www.theborneopost.com/2022/10/30/dbos-total-assets-grow-to-rm9-47-bln-as-of-oct-2022-says-chairman/ |archive-date=10 November 2022}}