KUALA LUMPUR: The Pilgrims Fund Board or Tabung Haji’s (TH) rationalisation plan and financial restructuring exercise carried under the Pakatan Harapan government has strengthened its assets, which are more than its liability, said Deputy Minister in the Prime Minister’s Department Fuziah Salleh.
She said the developments showed that TH’s financial situation had almost recovered.
“When TH carried out the rationalisation, we identified the non-performance companies and placed them in the special purpose vehicle (SPV). When we corrected, the total amount after we transferred to SPV is about RM 19.1 billion, that is the value replaced in the TH account now.
“With this, the two conditions in the Tabung Haji Act have been met, one is the asset must exceed liability and the profit is enough to give hibah (dividend),“ she said during the oral question and answer session in the Dewan Negara today.
She was responding to supplementary question from Senator Sabani Mat on the government’s assurance that the TH’s rationalisation exercise would provide higher dividend to depositors.
Fuziah said when with only good performing companies in TH, it would give good returns and better hibah in future.
On April 5, Minister in the Prime Minister’s Department Mujahid Yusof Rawa announced a dividend of 1.25% amounting to RM913 million for its 9.3 million depositors for the financial year 2018, the lowest in history. — Bernama
