Citadel Trustee Targets RM10 Bln Aum In Five Years Via Citadel Dynasty Trust

KUALA LUMPUR, May 20 (Bernama) -- Citadel Trustee Bhd, through its private wealth planning trust Citadel Dynasty Trust (CDT), expects to achieve its asset under management (AUM) target of RM10 billion within five years of the trust’s launch.

Citadel Group director Fred Chan Kim Kooi said the company plans to attract clients from global markets and senior citizens in Malaysia as part of its growth strategy.

"We are targeting more senior living homes, as well as clients from Indonesia, Singapore, Hong Kong and other countries with inheritance tax laws who are looking to invest their wealth in Malaysia," he said after the launch of CDT here today.

He said the private trust offers a one-time setup fee of RM40,000, instead of annual service charges, to attract more settlors.

Chan added that while there is no fixed minimum trust capital, a preferred benchmark is RM1 million.

He also revealed that a Shariah-compliant version of CDT is set to be launched within two to three months.

"It should be quick, as it is a fairly straightforward product. Once our Shariah advisor approves it, we will proceed with the launch,” he noted.

In a statement, Citadel said CDT enables rapid access to funds during critical times while allowing settlors full control over their wealth transfer plans.

"Beneficiaries can receive funds within three working days – significantly faster than typical probate timelines – providing timely financial support when it matters most," the company said.

-- BERNAMA