KUALA LUMPUR, Oct 27 – All Malaysians born during the January 1, 2018 to 2022 period will each be gifted RM200 worth of unit trusts, Prime Minister Datuk Seri Najib Razak announced today.

Najib said the gift to start off funds for babies born during this five-year period will be given through Permodalan Nasional Berhad’s Amanah Saham unit trusts, as an extension to his administration’s Transformasi Nasional 2050 (TN50) plan.

"This scheme that is being introduced for the first time in this country will be named Amanah Dana Anak Malaysia 2050, or ADAM50,” he said while tabling Budget 2018.

In Selangor, the state government ruled by federal opposition Pakatan Harapan has already implemented a scheme called Tabung Warisan Anak Selangor (Tawas).

Under the Selangor scheme, children born in the state are eligible to receive RM1,500 when they turn 18, with the trust funds to be managed by the state administration before then.

Najib also announced RM250 million allocation for education that will benefit the so-called "TN50 generation”, including a science, technology, engineering and mathematics centre, and upgrading computer science and coding module in schools.