Abang Johari Moots Setting Up Of Trust Fund By Malay Associations

KUCHING, Jan 20 (Bernama) -- Sarawak premier Tan Sri Abang Johari Tun Openg has suggested that Malay associations in the state create a trust fund to manage Malay-owned properties here.

Associations could buy Malay-owned properties at market prices and manage them without changing their status using the trust fund, he added.

“For instance, if the owner dies and the land has commercial value, it will be sold to anyone and Malays usually don’t have the financial (resources) to purchase, and it ends up leaving Malay hands.

“The solution is we need to shore up the Malay community through a trust fund. If the property is sold because of faraid, the trust fund can buy it and it will be managed by the Malay community themselves by buying at market prices,” he told reporters after a book launch here today.

He said that such efforts would help ensure that the properties would not ‘slip away’, especially if it was in a Malay area.

“We can also work with non-Malays with the condition that the Malays themselves also need to take part as equity partners, not sell it 100 per cent. To take that equity, Malays must have financial strength.

“Otherwise, it will turn out to be like Kampung Wireless in Miri, only the old Miri mosque is left, similar with Kampung Nyabor in Sibu. That’s why Malays must come together in terms of financial strength and invest through this trust fund, then we can defend our heritage, I’m thankful we already have a formula in Sarawak,” he added.

-- BERNAMA