Public Trust Act to be amended

KUALA LUMPUR: Provisions in the Public Trust Corporation Act 1995 will be amended to make it easier for beneficiaries to make claims.

Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said ( pix) called for a special committee to be formed by Amanah Raya Bhd (ARB), comprising all stakeholders to study reforms for the Act.

Noting that the Act has not been amended since it was enacted in 1995, she said ARB is looking at multi-level reforms to expand and improve its scope of legacy management.

“ARB has made several proposals and I accept all of them, but they need to hasten the ground work so that we can present it to the Cabinet in time for the March Parliament sitting.

“ARB’s reforms could further help families in asset distribution,” Azalina told a press conference after an official visit to Wisma Amanah Raya yesterday.

However, she stressed that at the moment, more awareness needs to be created about ARB’s legacy services, especially among non-bumiputras.

“If you look at the numbers of registered wills, although it increases every year, it is still very low compared to our population.

“I was informed that 80% of those registered are bumiputras and only 20% are nonbumiputras.”

ARB Group managing director Adenan Md Yusof said besides reforms to the Act, ARB is also seeking to establish a one-stop centre for registration of wills, assets and liabilities.

He also requested the government allows ARB access to MyIdentity data under the National Registration Department to enable it to locate beneficiaries.

In welcoming the suggestions, Azalina said allowing ARB to access MyIdentity can be done. – by Karen Arukesamy