Value of Tabung Haji's domestic equities investment up at RM7.8b

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KUALA LUMPUR (Oct 16): The value of Lembaga Tabung Haji’s (TH) domestic equity investment rose by RM1.12 billion to RM7.8 billion as of Sept 27 compared to RM6.36 billion last year.

Deputy Minister in the Prime Minister’s Department Fuziah Salleh said TH’s investment was focused on companies listed on Bursa Malaysia with a good financial performance and dividend record, while generating a stable income as well as being Syariah compliant.

“Apart from equity, TH is also actively seeking out investment opportunities in all asset classes such as real estate and permanent financial income instruments such as sukuk,” she added.

She said this when answering a question from Datuk Seri Hasan Arifin (BN-Rompin) who wanted to know about TH’s income from June 2019, the value of shares and assets sold in 2019, as well as estimated profit from June 2019.

Fuziah said as of June this year, TH sold assets worth about RM1.21 billion which generated a profit of RM61.6 million.

Meanwhile, Fuziah said Urusharta Jamaah Sdn Bhd (UJSB) which was formed to assist in the rehabilitation of assets taken over from TH, generated a profit after more than nine months of having done so.

She said the profit was recorded without any sale of assets.

“As of now, that is, more than nine months after the assets were taken over, there has been no sale.It is still there, as the assets are being rehabilitated from a low to a higher income.

“TH is no longer responsible, but for the sake of public interest and because many people are afraid assets of TH when transferred (may) be immediately sold, I wish to state that this is untrue as TH has the first right of refusal,” she added.

She said this in response to a supplementary question from Datuk Seri Mustapa Mohamed (PH-Jeli) who wanted to know about the performance of assets and investments managed by the special purpose vehicle (SPV) under the Finance Ministry.

UJSB is the wholly-owned SPV of the government, for the purpose of rehabilitating assets taken over from TH at end-2018, as part of the recovery plan for the entity.