What is EWHPS?

Trustee

Appointment of Trustee

A trustee is appointed by EWHPB to perform key functions as provided under sections 85, 86 and 87 of the Companies Act, 1965.

Background Information

TMF Trustees Malaysia Berhad (Company No. 610812-W) (“TMF Trustees”) was incorporated in Malaysia on 1st April 2003 under the Companies Act 1965 and registered as a trust company under the Trust Companies Act 1949 on 9th October 2003.

Upon completion of a merger in early July 2011, TMF Trustees is now part of the TMF Group. The TMF Group is an independent global service provider with more than 100 offices in 75 jurisdictions around the world.

The TMF Group has been present in Malaysia since 1992, with its first office in Labuan International Business Financial Centre (IBFC) under TMF Trust Labuan Limited (Company No. LL03704), for the provision of trust and fiduciary services and TMF Trustees was established in 2003 to support the Labuan office in servicing Malaysian clients and to undertake the domestic trust business.

The principal activity of TMF Trustees is the provision of trust services including acting as trustee and security trustee for private debt securities (PDS), corporate administrator to asset-backed securities (ABS), trustee for unit trust funds and private trusts and custodian for private fund mandate. As at 30 November 2013, the TMF Trustees has 20 unit trust funds, 7 wholesale funds and 43 PDS issuances under its trusteeship.

As at 30 December 2013, the TMF Group’s operations in Kuala Lumpur is supported by a staff strength of 64 employees, consisting of 52 executives and 12 non-executive employees. The employees comprise mostly of professionals from disciplines in trust, legal, accounting and company secretarial.

The recent synergy with TMF Group enables TMF Trustees and its sister company an opportunity to provide a wider, more comprehensive range of services, such as trustee services, corporate secretarial services, financial accounting, human resource administrative services and payroll outsourcing services.

The TMF Group has strong compliance and internal procedures and policies to ensure that all files are handled professionally.

 

Duties of Trustee

  1. Exercise due diligence and vigilance in carrying out functions and duties particularly in ensuring the interests and rights of investors are protected
  2. Ensure consents of the trustee and the Registrar of Companies are obtained prior to publishing any advertisement, circular or other document containing any statement with respect to the Subscription Fee of the Planter’s Blocks
  3. Undertake investigations in respect of any complaints received from the investors

Note: Further details of duties of the trustee are provided in the Prospectus of East West Horizon Planter’s Scheme