KUALA LUMPUR (March 25): The regulatory framework for attracting family offices to Malaysia will be announced by the government during this year's budget announcement, according to Securities Commission Malaysia (SC) chairman Datuk Seri Awang Adek Hussin.

“We are working on the framework and have been having a series of meetings with the Ministry of Finance [MoF] in family offices. 

"I believe the government will announce it in the budget. Hopefully, it will be good for Malaysia to attract family offices to be set up in Malaysia... It looks positive, but wait for the government announcement,” he said at a press conference after the release of the SC’s latest annual report on Monday.

The maiden partnership between IOI Properties Group (IOIPG) and Mitsubishi Estate Residence bore fruit with the completion in January 2024 of GEMS Residences in IOI Resort City, Putrajaya, offering holistic multi-generational wellness living inspired by Japanese approaches to community-based care and design.

In June 2023, Prime Minister Datuk Seri Anwar Ibrahim announced plans to attract a broader investor base for small and medium to the new economy. 

Pursuant to this, the MoF and SC will look at policies to facilitate and attract the setting up of family offices in Malaysia.

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