This article first appeared in The Edge Financial Daily on February 8, 2019

KUALA LUMPUR: The government has collected a total of RM202.72 million from the Tabung Harapan Malaysia (THM) fund and will use it to repay federal debt, the finance ministry said yesterday.

In a statement, Finance Minister Lim Guan Eng said in a statement that his ministry is currently closing the account which will then be audited by the Auditor-General’s department, before official use.

Donations for the THM was extended to Jan 14, following the public’s positive feedback. “Donations made after that period will not be credited into the account but returned to the contributors,” Guan Eng said.

To ensure the fund’s management is done properly and with integrity, Guan Eng said an Account Committee chaired by the ministry’s secretary-general, Datuk Ahmad Badri Mohd Zahir, will decide on the use of the money in accordance with procedures set by the THM’s Trust Deed directive.

“The federal government records its highest appreciation to all Malaysians who have contributed to the THM. Their contributions reflect their loyalty and compassion towards their beloved country. In addition, it encourages the government to work earnestly to solve the problem of debt that it inherited,” Guan Eng said.