SC FINALISING LICENSING FRAMEWORK FOR CASH TRUST SCHEMES

KUALA LUMPUR,  Feb 11 (Bernama) -- The Securities Commission Malaysia (SC) is finalising a licensing framework for cash trust schemes that invest in capital market products, the Ministry of Finance (MOF) said.

The ministry said the SC would continue to strengthen oversight and take firm and appropriate follow-up action to ensure compliance with the law and safeguard investors’ interests.

“For information, trust companies offering cash trust schemes are registered with the Companies Commission of Malaysia (SSM) under the Trust Companies Act 1949 (Act 100),” MOF said in a written reply published on Parliament’s website on Wednesday.

“They are also subject to the Trustee Act 1949 (Act 208),” it added.

The ministry was responding to Khoo Poay Tiong (PH–Kota Melaka), who asked when the government would establish a special inter-agency task force to conduct forensic investigations following defaults by cash trust scheme companies, including efforts to trace illicit fund flows and tax evasion.

Separately, replying to Tan Sri Muhyiddin Yassin (PN–Pagoh) on the list of new taxes to be introduced in 2026, MOF said the government had no plans to introduce any new taxes next year.

“Instead, the government’s focus is on strengthening existing tax policies and improving compliance,” it said.

For 2026, the government will complete refunds for the 2023 tax assessment year in the first quarter, MOF said.

“It will then ensure that refunds for the 2024 tax assessment year are fully settled before year-end,” it added.

-- BERNAMA

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