Source of funds
Terengganu's sovereign wealth fund will be given a boost when Deputy Prime Minister Datuk Seri Najib Tun Razak hands over MYR 400 million in oil royalties to the state government. The money is the first part of the MYR 3 billion oil royalties promised by the Federal Government to the state government.
MYR 11 billion will be sourced from the local and foreign capital markets with a proposal for the Federal Government to provide a government guarantee of up to MYR 5 billion.
TIA will have separate boards of advisors and directors, and a team of managers, to put in safeguard procedures to ensure the independence of each strata within the company. Risk management processes will also be strictly adhered to.
The Sultan of Terengganu will be the chairman of the Board of Advisers.