KINIGUIDE | This instalment of KiniGuide looks at the National Trust Fund, which will be utilised for the Covid-19 vaccination programme.
What is Kwan?
The National Trust Fund Act 1988, or Kumpulan Wang Amanah Negara (Kwan), was passed by the Dewan Rakyat in 1987. The subsequent year saw Petroliam Nasional Bhd (Petronas), as required by law, contributing RM100 million as the fund's start-up capital.
How is it funded?
The law states that Petronas is to contribute to the fund, as are the states that derive any form of royalty from the exploitation of petroleum or other depleting resources.
Gains from the fund's investments are...