In carrying its various corporate social responsibility (“CSR”) initiatives, Khazanah Nasional has always focused on sustainability of these initiatives in the longer term. When the idea of the Taman Tugu park was first proposed, it came with the condition that the Taman Tugu park should be protected into perpetuity as a public green space.
Khazanah’s proposal was approved by the Malaysian Economic Council in September 2015 and subsequently by the Malaysian Cabinet in July 2016 – the approvals ensures that the park component of the Taman Tugu Project will be transferred into a public trust and reserved as a public green space into perpetuity.
The trust is to be established under the Trustees Incorporation Act (1952) which is overseen by the Legal Matters Section (Bahagian Hal Ehwal Undang-Undang “BHEUU”) of the Prime Minister’s Department (Jabatan Perdana Menteri “JPM”). There is also a longer term view of enacting an act specifically to govern this trust.
The Trust will be governed by a Board of Trustees who are formally appointed by Khazanah Nasional as Founder of the Trust. A management body under the Trust will be appointed to manage day-to-day operations, oversee the maintenance and drive fund raising activities for the upkeep of the park and other assets in the future. It is the intent of the Founder that the Trust will strive to be self-sustaining, relying less on the Founder such that it will eventually operate as an independent public trust.
2To manage (operate), monitor and maintain Taman Tugu (excluding Khazanah ILMU).
Initial Trustees are:
- Tan Sri Dato’ Azman Hj. Mokhtar
- YAM Tunku Ali Redhauddin Ibni Tuanku Muhriz
- Tan Sri Zarinah Anwar
Whilst the current focus of the said public trust will be the Taman Tugu park, the longer term objective is for this public trust to potentially undertake more projects that involve the rejuvenation, rehabilitation and/or operations of selected public spaces together with heritage assets of national significance – an inspiration from the National Trust for Places of Historic Interest or Natural Beauty or commonly known as the National Trust UK (visit nationaltrust.org.uk for more information).
Generally, the process of setting up the Public Trust and transferring of land takes 3 – 4 months and is expected to complete by Q4 2017.
As at August 2017, all required documents including the final draft of the Trust Deed has been submitted to BHEUU-JPM and awaiting finalisation for its establishment. Once established, the transfer of the Taman Tugu park land will be effected. Per the submission documents, the proposed name for the trust is Amanah Warisan Negara (“AWAN”) or the National Heritage Trust, Malaysia.