UJSB vested with executive power to manage Tabung Haji assets

01 Apr 2019 / 22:04 H.

KUALA LUMPUR: Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof today said a special purpose vehicle (SPV) tasked with carrying out rehabilitation of all Lembaga Tabung Haji (TH) assets is managed by Urusharta Jamaah Sdn Bhd (UJSB).

He said UJSB has the executive power to manage the assets while Prokhas is a company under MOF Incorporated to manage underperforming assets and it is not focused on managing Tabung Haji assets only.

“Urusharta Jamaah has executive power ... however all decisions will go back to the SPV board of directors,“ he was winding up the debate on the motion of thanks for the Yang di-Pertuan Agong’s speech for his ministry at Dewan Rakyat today.

The issue was raised by the opposition block which claimed TH assets were being controlled by a non-Muslim, Chen Yin Heng as Prokhas chief executive officer.

Mujahid said UJSB Board of Directors comprised Treasury secretary-general as UJSB chairman Datuk Ahmad Badri Mohd Zahir and Rashidah Mohd Sies who is the Government Investment Companies Division secretary.

In this regard, Mujahid said the distribution of TH hibah (dividend) would be carried out after a review its financial position for 2018 was finalised.

“In other words, it is still not finalised as we are still tied with various constraints to ensure the financial position ending 2018 fully complied with the Malaysian Financial Reporting Standard which a policy on impairment,“ he said.

Dewan Rakyat later passed the motion of thanks on the Yang di-Pertuan Agong’s speech. — Bernama

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