Kenanga Trustees Debuts, Offering Tailored Wealth Preservation Solutions
May 06, 2024
Kenanga Investors Berhad, a prominent leader in asset and wealth management, has announced the launched of Kenanga Trustees Berhad (formerly known as Kenanga Funds Berhad) marking a strategic expansion towards becoming a one-stop wealth planning centre focused on enhancing, preserving, and facilitating seamless wealth transfer across generations.
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The Government of Malaysia has published the Service Tax (Amendment) Regulations 2025 [P.U. (A) 172] and Service Tax (Rate of Tax) (Amendment) Order 2025 [P.U. (A) 173] (collectively the “Gazette”) on 9 June 2025. The Royal Malaysian Customs Department (“RMCD”) has also issued the Service Tax Policy No.1/2025 (Amendment No.3) on 17 October 2025.
Following these amendments, trustee services are not exempted under Taxable Person or Taxable Service, Group H of the amended regulations. As such:
Implication to the industry
All licensed trust companies providing financial services involving fees, commission or sales charges are required to comply with service tax requirements.
Should you require further clarification, please reach us at our toll-free number 1-800-88-3737 or via email at trustees@kenanga.com.my.
Thank you.
Yours sincerely,
for KENANGA TRUSTEES BERHAD