KUALA LUMPUR: Malaysia's Single Family Office (SFO) Incentive Scheme has attracted an indicative RM20.8 billion in assets under management as at end-September, more than 10 times its original RM2 billion target.
Securities Commission Malaysia (SC) executive director Shahrul Amry Abd Malek said the figure reflected growing interest from local and foreign families, including Malaysians bringing their wealth home, since the scheme's launch in September 2024.
"The tax incentive is conditional on families investing, spending and hiring locally, because we want families who operate here, not structures that are simply registered here," he said in his keynote address at the Family Office Summit Malaysia.
