A Foundation or Yayasan can be registered with Prime Minister’s Department for the purpose of social, charitable, scientific, literary or religious education, which is regulated by the Trustees (Incorporation) Act 1952 (“Trustees Act”).

The Foundation or Yayasan registered under the Trustees Act may sue and be sued in its name.

The application documents for the incorporation of the Foundation or Yayasan are required to be submitted to the Legal Affairs Division of Prime Minister’s Department for approval. Once the Minister is satisfied that all information provided is complete and complied with the required procedures, a Certificate of Incorporation will be issued and it shall have perpetual succession unless it is revoked or be voluntarily dissolved.

After the incorporation of the Foundation of Yayasan, the Trustees are required to:

• record all proof of payments and receipts for every item of expenditure and to submit the annual report and audited financial statements to the Minister on or before June 30 every year;
• inform the Minister of any changes to the board of trustees, the address, phone number or any other related matters.

Need more information? Feel free to contact Roundtable Consultancy, we will be happy to explain to you in more details on the incorporation of a Foundation or Yayasan under the Trustees Act.