The Ministry of Finance clarifies that RM452 million in deferred funds, not frozen assets, are held in trust by AmanahRaya pending beneficiary identification and distribution.
KUALA LUMPUR: AmanahRaya holds RM452 million in deferred funds as the Public Trustee, according to a parliamentary reply from the Ministry of Finance.
These funds consist of cash from administered estates or trusts transferred after an owner’s death but not yet distributed to identified beneficiaries.
The ministry clarified that these are deferred funds held for administrative purposes and are not classified as frozen assets.
Delays in distribution often occur because entitled beneficiaries must be traced, have not cooperated, or have not yet made a claim.
The funds are segregated and held securely by AmanahRaya while it investigates, identifies, and tracks down rightful heirs before lawful distribution.
This explanation was provided in response to a question from Rodziah Ismail regarding a reported RM90 billion in frozen inheritance assets.
The ministry stated that the estimated RM90 billion in frozen estate assets refers to properties held in banks, financial institutions, or land offices due to incomplete legal processes.
Such assets remain frozen due to the absence of a Grant of Probate, Power of Attorney, or a legally appointed estate administrator.
In these cases, the assets remain under the control of the respective financial institutions or land authorities.
The Ministry of Finance and its agencies are implementing measures to address inheritance case delays through heir tracing and identification programmes.
Other initiatives include digitising estate administration services and promoting awareness of estate planning, trusts, and wills.
The government is also pursuing strategic collaborations with relevant agencies to expedite case resolution.
This comprehensive approach aims to reduce abandoned property and protect heirs’ rights in an orderly and effective manner.
The overarching goal is to ensure the sustainable resolution of inheritance matters for the benefit of the people.
 The Sun Malaysia
