Corporate Profile of The Manager
With effect from 21 January 2010, ARIM has taken over the role of the Manager for the Funds from AmanahRaya Unit Trust Management Sdn Bhd (“ARUTM”).
With over RM7 billion in assets under management, we are one of the largest non-bank-backed fund management companies in Malaysia. Our expertise encompasses multiple asset classes, both Ringgit and non-Ringgit, including equities, fixed income, unit trusts, alternative investments, short-term money market instruments, and private mandates in both Shariah and non-Shariah.
Currently, ARIM’s list of clients include reputable pension funds, insurance companies, government agencies, non-profit foundations, public listed companies and high net-worth individuals.
Summary of Financial Position
| Financial Year Ended | |||
|---|---|---|---|
| 31 December 2024 (in RM) Audited | 31 December 2023 (in RM) Audited | 31 December 2022 (in RM) Audited | |
| 10,000,000 | 10,000,000 | 10,000,000 | |
| 31,534,566 | 21,727,795 | 20,961,844 | |
| 36,627,520 | 23,382,169 | 25,580,906 | |
| 19,023,435 | 8,276,692 | 12,478,424 | |
| 15,806,772 | 6,865,951 | 11,259,145 |
Investment Committee
Role:
Members:
Datuk Ismail bin Kamaruddin
Director (Independent, Non‑Executive)
Puan Azura binti Azman
Director (Independent, Non‑Executive)
Encik Mohd Farid Bin Nawawi
Director (Independent, Non‑Executive)
Investment Manager
Role:
Members:
Abd Razak Salimin
Chief Investment Officer
Yap Jia Huey
Head of Equities & Research
Ivan Koo Von Siong
Head of Fixed Income
Julian Law Chin Tatt
Fund Manager, Equity
Imran Bin Kamali
Fund Manager, Fixed Income
Shariah Advisor
BIMB Securities Sdn Bhd (“BIMB Securities”) has been appointed as the Shariah Adviser for AmanahRaya Syariah Trust Fund, AmanahRaya Mixed Asset Syariah Conservative Income Fund, AmanahRaya Islamic Equity Fund and AmanahRaya Syariah Income Fund (“the Funds”). BIMB Securities will provide Shariah advisory services on the management and operations of the Funds to ensure the operations of the Funds comply with Shariah requirements.
BIMB Securities is a stockbroking subsidiary of Bank Islam Malaysia Berhad incorporated on 21 February 1994 and is licensed by the Securities Commission Malaysia (“SC”). The corporate mission of BIMB Securities is to be an active participant in a modern, innovative and dynamic Islamic capital market in Malaysia, catering for the needs of all investors, Muslims and non-Muslims, looking for Shariah-compliant investment products and services.
BIMB Securities is registered with the SC to act as a Shariah Adviser for Islamic products and services regulated by the SC, which include Islamic collective investment schemes. BIMB Securities is also registered as a Shariah Adviser with the Labuan Financial Services Authority (“Labuan FSA”) and Suruhanjaya Koperasi Malaysia (“SKM”). BIMB Securities is independent from the Manager and does not hold office as a member of the committee undertaking the oversight function of the Funds or any other funds managed and administered by the Manager. As at 28 February 2026, BIMB Securities is a corporate Shariah Adviser to 91 Islamic funds including two (2) Islamic Real Estate Investment Trusts.
As the Shariah Adviser for the Funds, the role of BIMB Securities is to ensure that the investment operations and processes of the Funds are in compliance with Shariah requirements. BIMB Securities will review the Funds’ investments on a monthly basis to ensure Shariah compliance and it also reviews the semi-annual and annual reports of the Funds.
Notwithstanding the role played by the Shariah Adviser, the ultimate responsibility for ensuring Shariah compliance of the Funds in all aspects of operations and processes rests solely with the Fund Manager.
In line with the SC’s Guidelines on Islamic Capital Market Products and Services, the roles of BIMB Securities as the Shariah Adviser are:
- (a) to advise on all Shariah aspects of the Funds and Funds’ operations and processes such that they are in accordance with Shariah requirements;
- (b) to provide Shariah expertise and guidance in all matters related to the Funds, particularly on the documentation such as the deed and prospectus, structure, investments and related operational matters;
- (c) to ensure that the Funds are managed and operated in accordance with Shariah requirements;
- (d) to review the Funds’ compliance reports as provided by the Manager’s compliance officer, and investment transaction reports provided or duly approved by the Trustee, to ensure that the Funds’ investments are in line with Shariah;
- (e) to prepare a report to be included in the semi-annual and annual reports of the Funds stating the Shariah Adviser’s opinion whether the Funds have been operated and managed in compliance with Shariah, including rulings, principles and concepts endorsed by the Shariah Advisory Council (“SAC”) of the SC for the financial period concerned;
- (f) to consult the SC where there is ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process;
- (g) to meet with the Manager on a semi-annually basis (or as and when required by the Manager and/or the Shariah Adviser) for the review of the Funds’ operations and processes; and
- (h) to apply Ijtihad (intellectual reasoning) to ensure all aspects relating to the Funds are in compliance with Shariah, in the absence of any rulings, principles and concepts endorsed by the SAC of the SC.
Muhammad Shahier bin Sa’min (“Muhammad Shahier”)
Muhammad Shahier joined BIMB Securities Sdn Bhd as the Head of Shariah in October 2024. He is responsible for all Shariah-related matters at BIMB Securities Sdn Bhd and has been appointed as the Designated Shariah Person. He previously served as the Secretary to the Shariah Advisory Committee. He has also been registered as an individual Shariah Adviser with the SC. He holds a Bachelor of Shariah, majoring in Economics and Islamic Banking from Yarmouk University, Jordan, completed in 2014, and obtained a professional certificate, Associate Qualification in Islamic Finance (AQIF), from the Islamic Banking and Finance Institute Malaysia (IBFIM) in 2019. In addition, he has recently earned the Certified Shari’a Adviser and Auditor (CSAA) certification from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Prior to this, Muhammad Shahier was the Head of Shariah at Yayasan Pembangunan Ekonomi Islam Malaysia (YAPEIM) from June 2021 to October 2024, where he oversaw Shariah governance and compliance across the YAPEIM group. He also served as the Head of Business Development, Business Advisory at IBFIM from June 2019 to June 2021, providing Shariah advisory services and delivering Shariah training. Before that, he was the Senior Executive/Unit Lead of Shariah Compliance, Risk Management Division at Malaysia Debt Ventures Berhad (MDV) from January 2018 to June 2019, and a Consultant in Shariah Business Advisory at IBFIM from January 2015 to December 2017.
Additionally, Muhammad Shahier has extensive experience in the structuring and advisory of Islamic REITs in Malaysia. He has been actively involved in the establishment of the unlisted Alpha REIT and has previously served as a member of the Shariah Committee for Al-Aqar REIT, the world’s first Islamic REIT and Al-Salam REIT. At present, he continues to contribute his expertise in Islamic REIT advisory through his role with BIMBSEC, which serves as the Shariah Adviser to two listed REITs on the local exchange, namely Axis REIT and AME REIT.
Currently, Muhammad Shahier also actively serves as a facilitator for IBFIM’s professional certification training programs and a speaker for Institut Koperasi Malaysia (IKMa) awareness programs. He is also an accredited trainer under HRD Corp and a SIDC-CPE trainer.
For further information on the profile of our Shariah Advisor ( BIMB Securities Sdn Bhd ), please refer to the website https://www.bimbsec.com.my/leadership
Outsourced Function
Amanah Raya Berhad is the Malaysia's premier trustee company and the holding company for ARIM. Since its establishment as the Department of Public Trustee and Official Administrator on 1 May 1921, AmanahRaya have served the nation for over 90 years and is the market leader in providing trust, legacy management and will-services.
The Department of Public Trustee & Official Administrator was corporatised on 29 May 1995 and on 1 August 1995 commenced its operations as Amanah Raya Berhad.
As trustee and administrator, AmanahRaya's services encompass the legal, financial and administrative duties in preparing trust documents and wills, acting as trustees of trust funds, acting as administrators and executor of deceased estates as well as monitoring the transaction of unit trust funds under our care. AmanahRaya is also involved in the investment of assets held in its Common Fund which pays out competitive dividend to its Beneficiaries.
AmanahRaya is wholly owned by the Government of Malaysia with 99.99% of its shares held by the Minister of Finance (Incorporated) and 0.01% of its shares held by the Federal Commissioner of Lands.
Role and duties of the Service Provider
- Financial audit
- Operational audit
- Special audit
- Financial audit
- Facilitate and advise on the development of unit-specific risk management
- Undertake operational vulnerability analysis
- Coordinate business improvement
- To facilitate & coordinate risk register preparation
- Financial Risk Management
- Providing independent risk assessment with regard to investment related process
- Develop investment/risk policy; procedure & commentary risk reports
- Advice on investment control and area for improvement
- Business Continuity Management (BCM)
- Develop and maintain a corporate wide Business Continuity Plan (BCP) program
- Perform risk analysis, identify recovery strategies and gaps
- Work closely with IT on BCP
- Administration
