RM42 Billion In Frozen Assets | Ramblings of an e-trader

Thursday, 28 April 2011

RM42 Billion In Frozen Assets

It was an eye opener to read in the papers today that Amanah Raya reported that there is a total of RM42 billion in frozen assets because the deceased did not have a will.

In Malaysia, will writing is still unpopular because we have the notion that wills are only written by people who are old and dying soon. Young people still feel quite taboo to have a will written and hence, when they die suddenly, the family is unable to gain access to the assets.

I remember reading about a tycoon who had two wives who died young and now, the two families are fighting for control of the company that the man built. I shall not name names here….

But really, RM42 billion is really a staggering figure.


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