Kuala lumpur: The National Trust Fund Bill 2026, which seeks to establish the National Trust Fund (KWAN) and incorporate the National Trust Fund (Incorporated) as its governing body to administer, manage, and invest the fund, was tabled for the first reading in the Dewan Rakyat today. This fund is designed to ensure a sustainable financial reserve for both current and future generations of Malaysia.
According to BERNAMA News Agency, Deputy Finance Minister Liew Chin Tong, who tabled the bill, stated that the second reading is scheduled to occur during the current parliamentary session. The National Trust Fund Act 2026 is set to come into operation on a date appointed by the Finance Minister, as notified in the Gazette.
The bill mandates that the Federal Government contribute to the fund each financial year, with a minimum of 0.1 per cent of its projected annual revenue, at least two per cent of dividends received from Petroliam Nasional Bhd (Petronas) for that financial year, and no less than two per cent from the export duty received on depleting resources, after deducting any duty-related assignments to any state. These contributions will be reflected in the annual financial statement tabled in the Dewan Rakyat, and the Federal Government will transfer the amounts by the end of the relevant financial year.
The bill also outlines proposed contributions from time to time by any state government that receives royalties from the exploitation of petroleum or other depleting resources. Additionally, it suggests using KWAN's funds for investments, remuneration, reimbursement, and other expenses of the National Trust Fund (Incorporated)'s board members, officers, and servants, as well as for covering any costs and payments related to the fund's administration, management, and investment.
The National Trust Fund (Incorporated) board is required to formulate a strategic asset allocation that specifies the long-term investment strategy. Furthermore, it must provide the Finance Minister with returns, reports, accounts, and other necessary information regarding the fund's assets and activities, as required by the minister.