Darussalam Assets Sdn Bhd is a private limited company established in 2012 to own Brunei’s Government-linked companies. Its shareholder is the Minister for Finance Corporation (MOFC). Darussalam Assets is an integral part of the Government-led initiative to spur economic development, with the strategy to turn the companies into world-class corporations.
ABOUT
Who we are
Its portfolio of companies are in various sectors of the economy including aviation, telecommunications, power utilities, logistics, agribusiness, food and beverage, leisure and tourism, medical, education, hospitality, and real estate.
MILESTONES
12 December 2012
Incorporation of Darussalam Assets Sdn Bhd
Establishment of the DA Supervisory Council
Establishment of the DA Board of Directors
July 2013
Adoption of DA Corporate Governance Code
2014
On going review of industry structures, sector strategies and portfolio.
January 2015
Approval of DA Corporate Governance Code, revised DA Articles of Association and DA
Corporate Governance Manual setting out Darussalam Assets’ compliance to roles,
responsibilities, risk management and governance.
Adoption of DA Corporate Governance Manual within DA.
Establishment of DA Governance & Training Committee; a committee under the DA
Board of Directors formed to oversee the structure, development and policies within
Darussalam Assets and its Group of Companies’ corporate governance structures.
15 January 2015
Darussalam Assets Forum on ‘Corporate Governance’ to promote the importance of corporate governance.
October 2015
Establishment of DA Group Nominating Committee; a committee under the DA Board of Directors formed to oversee the appointment of effective boards for the DA Group.
January 2016
Darussalam Assets Forum on ‘Corporate Governance: Risk Management as part of Corporate Governance’. The objective of this event was to promote the importance of corporate governance and risk management to Darussalam Assets and the DA Group.
17 August 2016
Corporatisation, Privatisation and Public-Private Partnerships (PPPs) Forum jointly organised by Darussalam Assets and the Ministry of Finance.
12 September 2016
Signing of Term Sheet between Darussalam Assets and Guangxi Beibu Gulf International Port Group Co Ltd (“Beibu”) at the China-Asean Expo in Nanning, China
28 September 2016
Keynote Address at the Leading Business in Asia Forum by Chief Executive Officer of Darussalam Assets Sdn Bhd and Deputy Minister of Finance YM Dato Paduka Dr. Awang Haji Mohd Amin Liew bin Abdullah.
30 November 2016
Signing of Agreement between Darussalam Assets Sdn Bhd and PDS Abattoir Sdn Bhd whereby Darussalam Assets acquired 40% shareholding. The transaction is an example of how Darussalam Assets is working to leverage its resources and expertise to benefit Brunei companies, consumers and the economy as a whole. As part of the transaction, PDS plans to commission the design and construction of a 45-hectare integrated feedlot in Brunei to enable PDS to reduce its supply chain costs, increase the quality of fresh beef products, provide competitive prices and increase its share of beef products to markets in Southeast Asia.
Reorganisation of portfolio companies by industry and sector.
Execution of the Corporate Governance Rollout (Phase One) to the DA Group which sets out the framework for the DA Group to continue to improve its processes and systems in line with the objective of achieving.
22 February 2017
Appointment of Muara Port Company Sdn Bhd as the operator of the Muara Container Terminal.
11 July 2017
Go-live of the Enterprise Resource Planning (ERP) System within BIACC Sdn Bhd and Progresif Cellular Sdn Bhd.
21 July 2017
Donation to Pusat Ehsan Al-Ameerah Al-Hajjah Maryam towards its ‘Special Needs Student Adoption Scheme’ whereby Darussalam Assets will be providing a year of full financial support to two special needs students requiring high support throughout their programmes at the centre.
13 September 2017
Signing of Contribution Agreement and a Memorandum of Understanding (MoU) between Darussalam Assets and Beibu Gulf Holding Co, Ltd in Nanning, Guangzi, People’s Republic of China.
The Contribution Agreement marks a new milestone with the securement of capital investments from Beibu, allowing for further upgrading of port facilities and equipment, with the primary objective of improving the efficiency and level of services provided by the Muara Container Terminal. The MoU will result in the construction of a Logistics Park to be located at a site in close proximity to the Muara Port. The creation of this industrial park is expected to enhance the level of services provided at the port which will enable Brunei Darussalam to attract further foreign investments.
24 November 2017
GLC Dialogue Session: ‘Logistics’ which was jointly organised by Darussalam Assets and the Strategic Development Capital Fund (SDC), Investment Division of the Ministry of Finance. The objective of this event is to create a platform for synergy between all the companies under the purview of Darussalam Assets and SDC.
11 December 2017
Go-Live of Darussalam Assets’ Human Resource Management System (HRMS).Go-Live of Darussalam Assets’ Human Resource Management Sysrem (HRMS).
20 April 2018
GLC Dialogue Session: ‘Food and Beverage’ jointly organised by Darussalam Assets Sdn Bhd and the Strategic Development Capital Fund (“SDC”), Investment Division of the Ministry of Finance. The objective of this event is to create a platform for synergy between all the companies under the purview of Darussalam Assets and SDC.
4 May 2018
International Financial Reporting Standards (“IFRS”) Accreditation Award Ceremony of Certificates for Darussalam Assets and its Group of Companies for the completion of the foundation modules, marking a special day for the key finance personnel who have achieved milestones in their progress towards IFRS Accreditation. As key drivers of the economy, Darussalam Assets is on its way to build a network of finance professionals across the Group.
8 May 2018
IT Awareness Session with DA Group of Companies organised by Darussalam Assets Sdn Bhd.
10 May 2018
HR Forum with DA Group of Companies organised by Darussalam Assets Sdn Bhd.
7 July 2018
Signing of Assets Purchase Agreement between Maritime and Port Authority of Brunei Darussalam and Darussalam Assets.
Signing of Lease Agreement between Maritime and Port Authority of Brunei Darussalam and Darussalam Assets.
Signing of Sub-Lease Agreement between Darussalam Assets Sdn Bhd and Muara Port Company Sdn Bhd.
10 August 2018
Donation to Pusat Ehsan Al-Ameerah Al-Hajjah Maryam towards its ‘Special Needs Student Adoption Scheme’ for the second consecutive year.
20 August 2018
Corporate Governance Information Session with DA Group of Companies.
20 September 2018
Darussalam Assets Sponsors The Society for the Management of Autism Related issues in training, Education and Resources (SMARTER) Brunei’s musical charity concert, ‘Looking through The Autism Wonderland’.
11 January 2019
GLC Dialogue Session: ‘Third Party Financing’ jointly organised by Darussalam Assets Sdn Bhd and the Strategic Development Capital Fund (“SDC”), Investment Division of the Ministry of Finance. The objective of this event is to create a platform for synergy between all the companies under the purview of Darussalam Assets Sdn Bhd and SDC.
23 February 2019
Darussalam Assets and its Group of Companies participates in the National Day parade as a group contingent.
26 February 2019
Announcement of the transformation of the Information and Communications Technology (ICT) sector to accelerate the nation’s digital agenda.
Under this initiative, the network infrastructure of all existing telecommunications operators; Telekom Brunei Berhad (TelBru), Datastream Technology Sdn Bhd (DST), Progresif Cellular Sdn Bhd (Progresif) and Brunei International Gateway Sdn Bhd (BIG) will be combined under a newly formed wholesale network operator called the Unified National Networks Sdn Bhd (a wholly owned subsidiary of Darussalam Assets).
6 March 2019
Signing Ceremony of the Agreement between Muara Maritime Services Sdn Bhd and the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam represented by the Ministry of Defence.
8 March 2019
Briefing on International Financial Reporting Standards (“IFRS”) Timeline & Award of IFRS Accreditation Certificates to Darussalam Assets and its Group of Companies.
10 April 2019
Finance for Non-Finance Directors Training organised by Darussalam Assets.
15 April 2019
Senior Management Forum on ‘A Paradigm Shift in Leadership’ organised by Darussalam Assets.
18 October 2019
Donation to Pusat Ehsan Al-Ameerah Al-Hajjah Maryam towards its ‘Special Needs Student Adoption Scheme’ for the third consecutive year.
18 January 2020
Signing Ceremony between Darussalam Pilotage Services Sdn Bhd and Bintulu Port Sdn. Bhd.
23 January 2020
ICT Industry Transformation reaches major milestone: Retail service providers went live; new data plans available, Development Companies set to launch.
2 March 2020
IT Risk Management Programme event for DA Group of Companies organised by Darussalam Assets. The IT Risk Management Framework was introduced.
April 2020
Launch of BAHDigital Campaign to Showcase the Nation’s Advancement Towards 4th Industrial Revolution. BAHDigital is an initiative led by the Digital Economy Council, Brunei Darussalam, in collaboration with the Ministry of Finance and Economy , Ministry of Transport and Infocommunications, Authority for Infocommunications Technology Industry and Darussalam Assets, BAHDigital campaign will be key in showcasing the possibilities of Information and Communications Technology (ICT) capabilities across all sectors and industries in the nation
1 July 2020
Roll out of Darussalam Assets’ Learning Management System (Phase One) for the DA Group of Companies.