PETALING JAYA, 14 October 2021 – Rockwills International Group, the leading wills and trust specialist, has set up Rockwills (L) Foundation as its initiative that comes timely for beleaguered families of staff and franchisees.
“This is our legacy to assist the Rockwills family and extended to the franchisees network in line with the Prime Minister’s ‘Keluarga Malaysia’ concept. During these difficult times, the Foundation will provide financial assistance for staff and franchisees whose families require help. And into the future, Rockwills will provide an annual allocation out of profits to fund the Foundation’s donations,” said Group Chief Executive Officer Azhar Iskandar Hew.
Established in Labuan and governed under the Labuan Foundation Act 2010, Rockwills (L) Foundation was incorporated in March this year to offer assistance in three key areas namely Education, Healthcare and Welfare & Recovery.
Set up primarily for the benefit of the Rockwills family comprising employees and licensed franchisees, Rockwills (L) Foundation will provide financial assistance to
- Education – beneficiaries who have no means to finance their children’s tertiary education on their own
- Health Care – beneficiaries with dependent families and who require attention or rehabilitation or disability aids to pursue promising careers.
- Welfare and Recovery – beneficiaries with dependent families affected by calamities or natural disasters such as flood or fire.
The setting up of Foundation is part of estate planning services provided by Rockwills. In the instance of a family business, a Family Foundation can be established as a separate legal entity for the protection of assets for the benefit of a family and subsequent generations.
“Likewise as we advise clients to do this for their families, we too can apply this estate planning solution to help our Rockwills family and thus this Rockwills (L) Foundation initiative,” said Azhar
“We all know that the past two years have been most challenging. Many families continue to face road bumps be it in financing their children’s tertiary education, in meeting unexpected healthcare expenses or in fulfilling financial commitments or unforeseen circumstances like natural calamities and pandemic too.”
Azhar said the Foundation’s 4 council members will review applications on a case-by-case. “Ideally, we would like to help all applicants but we know that it would not be possible. Applications will be prioritised according to needs, background and eligibility.
“At the end of the day, we want to live up to our philosophy of making wishes come true by creating a legacy that will outlive us,” he emphasised.