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Malay Mail
19-07-2025
- Business
- Malay Mail
OCM to launch long-term investment platform for national sports development
KUALA LUMPUR, July 19 — The Olympic Council of Malaysia (OCM) will establish a National Sports Endowment Fund as a sustainable financial mechanism to support the development of sports in the country and reduce reliance on government funding. OCM president Tan Sri Mohamad Norza Zakaria said the proposal of the establishment of the fund was unanimously approved during the 213th OCM Executive Council Meeting here, today. Mohamad Norza said the dedicated fund is envisioned to serve as a long-term investment platform, drawing contribution from the private sector including corporation, foundation, and individual philanthropists to provide financial assistance to national sports association (NSA), athletes, and coaches in their pursuit of sporting excellence. 'We realise that the time has come for all of us, the days of being completely dependent on the government to help national sports is over. We need support from the private sector to come in. 'This effort is complementary to what the government has done so far through the National Sports Council with the Ministry of Youth and Sports. We want to present this and we will take it to the highest level of KBS through Minister Hannah Yeoh,' he told a press conference after the meeting, here. He said the fund would be free from any political interference and governed by an independent body representing the OCM as well as individuals from industry, with potential participation from the government to be discussed further. Mohamad Norza said government representation is important to oversee the fund's operations, including the consideration of potential tax incentives for contributors. Asked about the timeframe for the establishment of the fund, he said it would realistically be in place by the end of the year, or at the latest, by the first quarter of next year. Meanwhile, Mohamad Norza said they had also established the Olympic House Project Steering Committee (Jawatankuasa Pemandu Projek Rumah Olimpik) which will be chaired by OCM secretary general Datuk Mohd Nasir Ali and Squash Racquets Association of Malaysia (SRAM) president Gerard Monteiro as deputy chairman. He said other committee members include namely Malaysia National Cycling Federation (MNCF) president Datuk Amarjit Singh Gill, Malaysia Lawn Bowls Federation Datuk Awalan Abdul Aziz and Malaysian Chess Federation Akhramsyah Muammar Ubaidah Sanusi. Mohamad Norza said the committee will monitor and ensure that the RM93 million building project, which will be the new OCM headquarters scheduled to be completed by 2028, is transparently and objectively evaluated. — Bernama
The Sun
19-07-2025
- Business
- The Sun
OCM launches National Sports Endowment Fund for sustainable sports funding
THE Olympic Council of Malaysia (OCM) will establish a National Sports Endowment Fund as a sustainable financial mechanism to support the development of sports in the country and reduce reliance on government funding. OCM president Tan Sri Mohamad Norza Zakaria said the proposal of the establishment of the fund was unanimously approved during the 213th OCM Executive Council Meeting here, today. Mohamad Norza said the dedicated fund is envisioned to serve as a long-term investment platform, drawing contribution from the private sector including corporation, foundation, and individual philanthropists to provide financial assistance to national sports association (NSA), athletes, and coaches in their pursuit of sporting excellence. 'We realise that the time has come for all of us, the days of being completely dependent on the government to help national sports is over. We need support from the private sector to come in. 'This effort is complementary to what the government has done so far through the National Sports Council with the Ministry of Youth and Sports. We want to present this and we will take it to the highest level of KBS through Minister Hannah Yeoh,' he told a press conference after the meeting, here. He said the fund would be free from any political interference and governed by an independent body representing the OCM as well as individuals from industry, with potential participation from the government to be discussed further. Mohamad Norza said government representation is important to oversee the fund's operations, including the consideration of potential tax incentives for contributors. Asked about the timeframe for the establishment of the fund, he said it would realistically be in place by the end of the year, or at the latest, by the first quarter of next year. Meanwhile, Mohamad Norza said they had also established the Olympic House Project Steering Committee (Jawatankuasa Pemandu Projek Rumah Olimpik) which will be chaired by OCM secretary general Datuk Mohd Nasir Ali and Squash Racquets Association of Malaysia (SRAM) president Gerard Monteiro as deputy chairman. He said other committee members include namely Malaysia National Cycling Federation (MNCF) president Datuk Amarjit Singh Gill, Malaysia Lawn Bowls Federation Datuk Awalan Abdul Aziz and Malaysian Chess Federation Akhramsyah Muammar Ubaidah Sanusi. Mohamad Norza said the committee will monitor and ensure that the RM93 million building project, which will be the new OCM headquarters scheduled to be completed by 2028, is transparently and objectively evaluated- BERNAMA
New Straits Times
19-07-2025
- Business
- New Straits Times
OCM endowment fund set to boost Malaysian sports
KUALA LUMPUR: The Olympic Council of Malaysia (OCM) is looking to establish a National Sports Endowment Fund to boost funding for Malaysian sports. OCM president Tan Sri Norza Zakaria said Malaysian sports can no longer expect the government to fund sporting initiatives and must look for more support from the corporate sector. OCM held their first executive council meeting for the 2025-2029 term in Bukit Kiara today (July 19). "The executive council unanimously approved the proposal to establish a National Sports Endowment Fund to serve as a long-term investment platform," said Norza during a press conference here today. "The fund will draw contributions from the private sector which includes corporations, foundations and individuals who wish to provide assistance to national sports associations, athletes and coaches. "The fund is also to help sports that require hand-holding, sports which find it hard to secure sponsorship. "But to attract these contributors, we need to provide them incentives (such as tax incentives). We will need to come up with these incentives and propose them to the government for approval. "There must be clarity when it comes to incentives, only then will the private sector come. Without clarity, it will not be easy to entice them." Norza added that the management of the fund will be free of political interference. "The fund must be run by professionals and be free of political interference. We will have a board of trustees," said Norza. "We hope to get this fund up and running by the end of the year, or by the first quarter of next year at the latest." OCM has also set up a committee - dubbed the Olympic House Project Steering Committee - to oversee the construction of their new headquarters in Bukit Jalil. The committee is led by OCM secretary-general Datuk Nasir Ali with Squash Racquets Association of Malaysia (SRAM) president Gerard Monteiro as deputy chairperson. Datuk Amarjit Singh Gill (cycling), Datuk Awalan Abdul Aziz (lawn bowls) and Akhramsyah Sanusi (chess) will serve as committee members. "This committee will oversee the entire project to ensure that we get a new facility that is worth RM93 million (and not get shortchanged) and to also make sure that the entire process is transparent," added Norza. The new OCM headquarters will be built on a 5.38 acre plot - leased from the government - by Malaysian Resources Corporation Berhad (MRCB), funded via a land swap deal with the latter. MRCB will in exchange take the 0.73 hectare plot of land - valued at RM93 million - along Jalan Hang Jebat, Kuala Lumpur where OCM's current headquarters, completed in 1991, are situated. OCM has also set up various standing committees to oversee different sectors for the 2025-2029 term. OCM Standing Committees for 2025-2029 term: Selection, membership, media (all chaired by Tan Sri Norza Zakaria), marketing and sponsorship, winter sports (both Datuk Nur Azmi Ahmad), East Malaysia (Azizul Annuar Adenan), general purpose and awards (Datuk Sumali Reduan), museum, hall of fame and welfare (Datuk Iruan Zulkefli), gender equity (Nurul Huda Abdullah), building and facilities (Datuk Dr Chong Kim Fatt), relocation of OCM headquarters task force (Datuk Nasir Ali), finance (Datuk Ahmad Feisal Ahmad Tajuddin), education and training (Moira Tan), medical and anti-doping (Datuk Dr S.S Cheema), legal advisory, rules and discipline (Datuk Seri Firuz Jaffril)
