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BUSINESS

MAAB registers over 170,000 wills with assets worth RM86 Billion

26/07/2022 08:51 PM

TAIPING, July 26 (Bernama) -- MyAngkasa Berhad (MAAB), a trust company owned by Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa), has so far registered more than 170,000 wills, with an estimated total asset value of RM86 billion.

Angkasa deputy president Associate Prof Datuk Dr Abdul Rahman Abdul Razak Shaik said out of that number, MAAB has managed a total of 637 files (cases) for the administration of estates estimated to be worth RM320 million.

“The amount (number) is considered large because MAAB is still considered ‘young’ as an institution managing trusts, with only seven years since it was established in 2014. This achievement proves the public's trust in MAAB. In 2014 only 18 files were successfully managed.

“We appoint a professional administration that runs the company well and fairly," he said after witnessing the donation and infaq contribution of RM17,000 from the family of the late Hassan Johan, in an event here today.

Abdul Rahman said that lack of information, family feuds and financial problems were the causes of delays in the settlement of estate management.

According to him, MAAB plays a role in managing estate planning and administration of wills, hibah (gifts), cash, takaful and inheritances. It also only charges a fee of RM500 to open a file (case), which is considered among the cheapest in the market.

Earlier, Abdul Rahman, when reading the text of Angkasa president, Datuk Seri Dr Abdul Fattah Abdullah's speech, which, among other things, said that it is important to manage wills immediately so that all matters and responsibilities of the trustees can be resolved as soon as possible, before the issue of multiple deaths and so on.

Meanwhile, the late Hassan's son, Muhamad Amir Ashraf, 29, was grateful and relieved that his father's wish to have his savings channelled to a number of beneficiaries, consisting of mosques, surau, tahfiz institutions and selected individuals, has been fulfilled.

-- BERNAMA

 

 

 

 


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