Increase in dividends to come after Tabung Haji revamp

16 Jul 2019 / 16:21 H.

KUALA LUMPUR: Lembaga Tabung Haji (TH) depositors can expect a much higher hibah (dividend) payout next year following the restructuring and rehabilitation of the pilgrim fund.

Deputy Minister in the Prime Minister’s Department Fuziah Salleh said TH had recorded an increase in profits since the start of the year.

This meant the historic low dividend payment of 1.25% issued by the fund in April for the 2018 financial year would be a thing of the past.

“In order for TH to issue dividends, its assets should be valued more than its liabilities. For this year’s deposit, although our assets were more (than our liability), it was not much. That was why the hibah was low.

“But now that we have completed the restructuring and rehabilitation process, inshaallah (God’s willing) depositors will be promised a much higher hibah next year,” she told the Dewan Rakyat, here, yesterday.

The government had in April announced that dividend amount for 2018 was only 1.25%, with a total payout of RM913mil for TH’s 9.3 million depositors.

Prime Minister Tun Dr Mahathir Mohamad had explained that funds “misappropriated” from TH’s management under the Barisan Nasional administration had affected the pilgrim fund’s ability to pay out the hibah.

Commenting further on the matter, Fuziah said depositor confidence in TH continued to improve since the restructuring of the pilgrim fund at the end of last year, noting that there had been an increase in the number of new depositors.

“From January to May this year, there were 133,000 new depositors, with a total deposit of RM83 million. In addition, there are no abnormal fund withdrawals up to June this year.

“This shows that confidence towards TH remained consistent,” she said.

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