Even In Death, Mysterious 'Madam W' Continues To Donate Millions To Orphans In Malaysia
The generosity of a woman lives on even though she passed away seven years ago.
By Yap Wan Xiang — 14 Aug 2020, 05:01 PM
While a woman known only as 'Madam W' was alive, she knew her philanthropic work will not be finished even after her death.
Thus, she left behind a multi-million legacy that will continuously donate profits from investments to orphanages in Malaysia.
Since her passing in 2013, her arrangement with will writing and custody service company Rockwills Trustee Berhad has ensured donations of RM1.1 million in total to orphanages in the country.
Madam W's identity is withheld due to reasons of confidentiality.
During a ceremony yesterday, 13 August, Rockwills Trustee presented RM189,304.02 to 20 orphanages, reported New Straits Times.
Representatives from the orphanages came to Rockwills Trustee's office in Menara AmFirst, Petaling Jaya yesterday to receive Madam W's contributions.
Each orphanage received RM9,465.20 this year, which will benefit over 1,100 orphans in total.
Rockwills Trustee chief executive officer Azhar Iskandar Hew representing late Madam W to hand out the contributions to beneficiaries from 20 orphanages yesterday, 13 March.
Image via New Straits TimesAccording to Rockwills Trustee chief executive officer Azhar Iskandar Hew, Madam W wanted her money to go to the orphans after her passing
Therefore, in her will, Madam W instructed the company to invest a portion of her estate and the subsequent earnings to be utilised in funding orphanages.
"When Madam W wrote her will, she had wished to do something with her wealth for orphans. She didn't want to stop at distributing part of her estate for orphanages upon her demise," Azhar said.
She wanted more than that – make her money work for the benefit of orphans.
"Through astute estate planning, she allocated a portion of her estate to be held in trust for the sole purpose of investment. Earnings derived from the investments are then to be utilised for the benefit of orphans."
Upon learning Madam W's aspiration, Azhar said his company's directors and senior management staff devised a long-term investment plan that is capable of materialising her wish
The company's internal operations committee has been tasked to make appropriate investments that will give steady returns annually.
"Each year, the orphanages vary for a wider spread of beneficiaries regardless of race and religion," said the CEO.
Although more people have begun to include charitable contributions in their wills, Azhar said Madam W's commitment to philanthropy is not common because her plan is carried out annually and without limitation of a time frame.
"It is an example of a well-formulated estate plan to be considered and followed," he added.
"It underscores that wills and trusts can be effective and versatile estate planning tools for wealth distribution to not just loved ones, but also deserving segments of society."
According to the company's website, Rockwills Trustee has written over 250,000 wills for its clients and manages more than RM25 billion assets under trust.
