MAAB to boost estate planning business with PMBI tie-up

KUALA LUMPUR: MyAngkasa Amanah Bhd (MAAB), a trustee company, is on track to increase the size of its estate planning management business via a strategic partnership with PMB Investment Bhd (PMBI).

MAAB chief executive officer Datuk Ahmad Saruji Abdul Azizi said he expected to manage about 500 wills and inheritance administration files within three months involving PMBI investors.

He said the cooperation would see the execution of its will administration and inheritance business via PMBI agents throughout Peninsular Malaysia at reasonable fees.

“So far, MAAB has managed 213 files and we are confident the targeted amount can be achieved though various application we are receiving so far.

“MAAB is also looking for the right strategic partner to ensure an adequate takeup rate for the administration of estates, up from the less than one per cent,” he said at the signing of a strategic cooperation agreement between MAAB and PMBI, here, yesterday.

Also present at the event were PMBI chairman Datuk Abdul Malik Ismail, its chief executive officer Najmi Mohamed and Angkasa deputy president Mutadho Bahri.

MAAB remained as a leading industry player in will-writing products at the lowest rates on the market, said Ahmad Saruji.

“For a will, the fee includes a one-off charge of RM400 with free amendments and an inheritance fee of two per cent of the total asset value”.

“MAAB has kept its prices affordable to encourage customers to undertake comprehensive estate planning.”

Meanwhile, Najmi Mohamed said to provide added value to customers, MAAB would mandate PMBI to offer grants to PMBI investors and customers in the first quarter of next year.

“Currently, there are about 70,000 investors investing with PMBI and hopeful that MAAB product offers will give them more options,” he said.

MAAB will also train staff and PMBI agents to equip themselves with skills and knowledge in providing advisory and sales services to investors.