Sim Kheng Boon to head Development Bank of Sarawak

Sim Kheng Boon, CEO, DBOS

The Sarawak Chief Minister’s Office announced the appointment of Sim Kheng Boon as chief executive officer (CEO) of the newly-formed Sarawak Development Bank Bhd (DBOS) effective Aug 1. DBOS, earlier approved by Bank Negara Malaysia, will be operated on a financial model that will help to fund high impact projects. This is in line with the state’s effort to promote social economic transformation catch-up plan.

“Sixty-two-year-old Sim will be fully supported by the Board of DBOS comprising its chairman Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani, who is also the State Secretary, and members Sharkawi Alis, Christopher Adrian and Datu Laura Lee Ngien Hion,” said DBOS in a press statement yesterday.


A Sarawakian, Sim graduated with a Degree of Commerce (Hons) from the University of Windsor, Ontario, Canada and is an associate member of Asian Institute of Chartered Bankers. He has more than 30 years of extensive experience and skill in the finance industry and is a recognised and reputable corporate figure in the industry.

Sim served as executive director, East Malaysia of Kenanga Investment Bank Bhd from 2012 to 2015 and had also served with AmBank AmInvestment Bank Bhd for almost 30 years. His last position with the bank was as the director, Sarawak Region.

He joined AmInvestment Bank in 1983 in line functions and was later 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 mergers of acquisitions.

In addition, Sim served as an independent director of Zecon Bhd and retired just recently.