Tabung Haji is seriously looking into two offers for its land in the Tun Razak Exchange (TRX).

"From all the proposals received, Tabung Haji is seriously looking at two offers. The prices offered are certainly higher (than what Tabung Haji paid for the land)," an industry source told The Malaysian Reserve .

The source said Tabung Haji is looking at the method of payment but did not give out further details, such as whether the pilgrimage fund will be paid in cash or mix equities for the land.

Tabung Haji had purchased the 0.64ha of TRX land from debt-laden 1MDB for RM188.5 million.

Public furore over the deal however prompted the fund to say it would sell off the land within two weeks.

It has been six weeks since that announcement was made.

Ensure involvement of Muslim groups

Meanwhile Minister in the Prime Minister's Department Jamil Khir Baharom told the Senate yesterday that Tabung Haji must carefully evaluate the sale of its land in TRX.

He said an evaluation must be done to ensure the involvement of Muslim groups in the economic development of the land after its sale.

Jamil ( photo ) also stressed that all investments made by the pilgrimage fund were syariah compliant and obtained competitive profit for Tabung Haji depositors.

Tabung Haji paid RM188.5 million or RM2,773 per square foot for the land 1MDB got from the government at a mere RM64 per square foot in 2011.

The controversial deal was slammed by former prime minister Dr Mahathir Mohamad and it also prompted several Umno leaders to question Prime Minister Najib Abdul Razak on the 1MDB land deals.