Lembaga Tabung Haji has been accused of incurring some RM700 million in losses due to its investments in the oil and gas industry.

PKR vice-president Rafizi Ramli said Tabung Haji had a substantial stake in Perisai Petroleum Teknologi Bhd (Perisai), TH Heavy Engineering Bhd, Alam Maritim Bhd and Reach Energy Bhd.