Tabung Haji posts first-half income of RM1.47b

Tabung Haji posts first-half income of RM1.47b
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KUALA LUMPUR (Sept 22): Lembaga Tabung Haji posted a total income of RM1.47 billion for the first half of 2022, with total deposits of RM88.09 billion, the highest level in the 59 years of its establishment. 

For the first six months, more than 200,000 new savings accounts were opened, further increasing Tabung Haji’s depositors to 8.6 million people.

“This achievement reflected Tabung Haji’s resilience despite facing the after effects of the Covid-19 pandemic which has not ended, among which were the effects of inflation, market uncertainty, and global economic weaknesses,” Tabung Haji said in a statement on Thursday (Sept 22).

Group managing director and chief executive officer Datuk Seri Amrin Awaluddin said an investment approach that prioritises a safe return reflects Tabung Haji’s commitment to safeguarding depositors’ interest by preserving and increasing their savings.

“Moving forward, Tabung Haji will continue its efforts to increase income through investment and manage operational costs more efficiently, ensuring sustainability and stability of income distribution for depositors.

“Tabung Haji will also continue to focus on a high level of governance, compliance and integrity for the benefit of Tabung Haji and its depositors,” he said. 

According to Tabung Haji, the bulk of the income was derived from fixed income investments that contributed RM966.34 million in the first half, accounting for 65.71% of total gross income. 

Investment in equities contributed RM224.62 million, an improvement of RM41.27 million compared with RM183.35 million in the same period last year. 

“After accounting for expenses and zakat, Tabung Haji reported a net profit of RM1.03 billion for the first six months to June 30, 2022, compared with RM1.22 billion for the same period in 2021,” the pilgrims' fund board said.