In July 2016, the Malaysian Cabinet approved for the park component of the Taman Tugu Project to preserved as a public green space into perpetuity and transferred into a Public Trust envisaged to called “Amanah Warisan Negara” (“AWAN”) or the National Heritage Trust.
Whilst the current focus of AWAN will be the park component of the Taman Tugu Project, the long-term objective is to undertake more projects that involve the rejuvenation, rehabilitation and/ or operations of selected public spaces together with heritage assets of national significance.
The Trust will be governed by a Board of Trustees who were formally appointed by Tan Sri Dato’ Seri Utama Nor Mohamed Yakcop – Deputy Chairman of Khazanah Nasional Berhad as Founder of the Trust. The initial Trustees are:
- YBhg. Tan Sri Dato’ Azman Hj. Mokhtar
- YAM Tunku Ali Redhauddin Ibni Tuanku Muhriz
- YBhg. Tan Sri Zarinah Anwar
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.
As of 19th July 2017, all required documents for the incorporation of the Trust were executed by the appointed Trustees and have been submitted accordingly to Bahagian Hal Ehwal Undang-Undang – Jabatan Perdana Menteri (“BHEUU-JPM”) which oversees the administration of Incorporated Trusts in Malaysia. The establishment of the Trust is expected to take 2-3 months after which the land will be transferred in.