Darussalam Assets

Note: This article was proposed for deletion on Wikipedia.

Darussalam Assets Sdn Bhd (abbreviated as DA) is a sovereign government-linked company (GLC) of Brunei Darussalam, acting as a strategic investment arm and a primary catalyst for the nation's economic evolution. Founded in late 2012 under the Minister for Finance Corporation, the firm was established to bridge the gap between traditional government oversight and the efficiency of private-sector commercialism. In a landscape historically dominated by oil and gas, Darussalam Assets serves as the engine for "corporatization," systematically transforming state-owned entities into profitable, world-class corporations. By consolidating vital national assets under a unified governance framework, DA plays a central role in realizing Wawasan Brunei 2035, the Sultanate's long-term roadmap to create a highly diversified economy.

Governance

The company follows a rigorous governance framework modeled after international standards, including the International Financial Reporting Standards (IFRS).

Supervisory Council

The Supervisory Council provides high-level strategic direction and ensures alignment with national policy goals.

  • Chairman: Pehin Datu Lailaraja Mejar Jeneral (B) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof (Minister at the Prime Minister's Office).
  • Members: Include the Minister of Finance and Economy II, Minister of Health, and Minister of Education.

Management

The day-to-day operations are led by a professional executive team:

  • Chief Executive Officer: Dato Seri Paduka Awang Haji Khairuddin bin Haji Abdul Hamid.
  • Chief Investment Officer: Ainadin Cader.
  • Chief Financial Officer: Laila Hussainmiya.
  • Chief Corporate Affairs Officer: Hajah Rahayu binti Dato Paduka Haji Abdul Razak.

Corporate Values

Darussalam Assets operates under a set of core values known as the RIGHT values, which guide its internal culture and its relationship with portfolio companies:

  • Respect: Valuing diversity and individual contributions.
  • Integrity: Acting with honesty and transparency.
  • Genuineness: Being authentic in all professional dealings.
  • Humility: Leading with a service-oriented mindset.
  • Teamwork: Collaborating across sectors to achieve national goals.

Portfolio Companies

Darussalam Assets organizes its investments into specific economic clusters. As of 2024, the portfolio includes the following companies categorized by sector:

Telecommunications and Technology

  • Unified National Networks (UNN): The sole wholesale infrastructure provider for Brunei.
  • Datastream Digital (DST): The nation's largest retail telecommunications provider.
  • Progresif Sdn Bhd: A mobile and digital lifestyle provider.
  • Imagine Sdn Bhd: Broadband and fixed-line services.

Aviation and Logistics

  • Royal Brunei Airlines (RB): National flag carrier.
  • Muara Port Company (MPC): Joint venture managing the national deep-water port.
  • Brunei International Air Cargo Centre (BIACC): Specialized logistics and warehouse management.
  • Muara Maritime Services (MMS): Naval ship maintenance and repair.

Hospitality and Leisure

  • The Empire Brunei: Luxury five-star resort.
  • Jerudong Park Country Club (JPCC): Management of Jerudong Park facilities.
  • Royal Brunei Culinary (RBC): Industrial catering and food production.

Finance and Power

  • Bank Islam Brunei Darussalam (BIBD): (Associate) Brunei's largest Islamic financial institution.
  • Baiduri Bank Group: (Associate) Leading conventional banking group.
  • Berakas Power Company (BPC): Operation of critical power infrastructure.

Healthcare and Education

  • Jerudong Park Medical Centre (JPMC): Private hospital and heart center.
  • Pantai Jerudong Specialist Centre (PJSC): Specialist cancer and rehabilitation hub.
  • Jerudong International School (JIS): International education provider.