KUALA LUMPUR — The Olympic Council of Malaysia (OCM) will launch a National Sports Endowment Fund to sustainably support sports development and lessen reliance on government funding. Approved during OCM’s 213th Executive Council Meeting, the fund will be managed independently, free from political influence, with potential government involvement and tax incentives under consideration.

OCM president Tan Sri Mohamad Norza Zakaria said the fund is expected to be ready by year-end or early next year. He also announced the formation of a steering committee to oversee the RM93 million Olympic House Project, the future OCM headquarters set for completion in 2028.