Pilgrimage fund Lembaga Tabung Haji (TH) today said that it would continue to invest in the oil and gas sector despite criticisms that it had made short-term losses in the sector, as it matched national interests and had proven to be profitable in the long run.

"TH considers this sector as one that has national strategic importance. Short and medium term 'mark to market' losses from unrealised losses will not deter our appetite and commitment to continue to invest in the sector," said the fund in a statement posted on its Facebook page.

The fund explained that while some of its investments hit some snags, investment in oil and gas was a long term affair, and it had been in the sector since 2001 and had overall, garnered RM1.06 billion in profits from previous investments.

"Most investments are made in stable and capable bumiputera-owned companies which provide primary support services to the national oil company to reduce our dependence on foreign oil and gas firms," read the statement further.