The National Trust Fund Bill 2026, tabled in parliament, aims to establish a long-term financial reserve for Malaysia by mandating federal contributions from revenue and resources.
KUALA LUMPUR: The National Trust Fund Bill 2026, which aims to establish the National Trust Fund (KWAN) and incorporate the National Trust Fund (Incorporated) as the governing body to administer, manage and invest the fund, was tabled for the first reading in the Dewan Rakyat today.
The fund is to ensure a long-lasting financial reserve for current and future generations of Malaysia.
Deputy Finance Minister Liew Chin Tong (pic), when tabling the bill, said the second reading is scheduled to take place during the current parliamentary meeting.
The National Trust Fund Act 2026 will come into operation on a date to be appointed by the Finance Minister by notification in the Gazette.
According to the bill, the Federal Government is required to contribute to the fund for each financial year a minimum of 0.1% of its projected annual revenue, at least two per cent of dividend received from Petroliam Nasional Bhd (Petronas) for that financial year, and no less than two per cent from the export duty it received on depleting resources after deducting any duty-related assignment to any state.
The contributed amounts will be included in the annual financial statement tabled in the Dewan Rakyat, and the Federal Government will transfer the amounts to be given by the end of the relevant financial year.
The bill also proposed contributions from time to time by, among others, any state government that derives any form of royalty from the exploitation of petroleum or other depleting resources.
Also proposed is the use of KWAN’s moneys for investments, payment of the remuneration, reimbursement and other expenses of the National Trust Fund (Incorporated)’s board members, officers and servants, as well as covering any costs and payments attributable to the fund’s administration, management and investment.
The National Trust Fund (Incorporated) board must formulate a strategic asset allocation specifying the long-term investment strategy and must furnish the Finance Minister returns, reports, accounts and other information with respect to the fund’s assets and activities as the minister may require.
