Lembaga Tabung Haji (TH) today denied giving a corporate guarantee to its associate company, TH Heavy Engineering Bhd (THHE).

In a statement, TH said accusations that its investment in THHE will incur losses of RM1.4 billion are baseless.

It said as the largest shareholder in THHE, which is involved in the oil and gas industry, TH understands very well the various challenges faced by the industry.

“Therefore, TH is urging the public not to be misled by accusations based on documents posted on social media," it said.

- Bernama