KUALA LUMPUR: As of October 2024, the government is holding some RM12bil of unclaimed monies, says Finance Minister II Datuk Seri Amir Hamzah Azizan. In his winding-up speech on the Supply Bill 2025 on Wednesday (Nov 13), Amir Hamzah said that RM17bil of unclaimed money had been received as of Oct 31. “A total of RM4.2bil has been paid to the claimants, leaving a balance of RM12.8bil in unclaimed money," he added. The amendments to the Unclaimed Moneys Act 1965 allow the government to consider unclaimed money as revenue after 10 years. Unclaimed money previously held by companies and lodged with the Registrar was to be credited into the Consolidated Trust Account.

Source: The Star November 13, 2024 20:12 UTC