Tabung Harapan Malaysia (THM) will be closed on Dec 31, said Finance Minister Lim Guan Eng today.
He said in a statement that the cabinet had agreed to close THM after it was set up seven months ago.
“Malaysians who wish to donate can do so before Dec 31,” he added.
THB was established by the Pakatan Harapan government on May 30 to receive and account for donations and contributions from individuals and companies to assist the government to address the country’s debt.
In line with the matter, a cabinet meeting on May 30 agreed to set up the fund under subsection 9(1) of the Financial Procedure Act 1957 (Act 61).
Lim said the National Audit Department (JANM) would be auditing the THM Receipt Statement and THM Trust Account Payment to ensure the management of THM was in order and of integrity.
An external audit firm has been appointed by the Finance Ministry to audit the account of THM and it was in line with Section 7 of the Audit Act 1957, he said.
“This because THM involved funds contributed by the people to pay the country’s debt which surpassed RM1 trillion following the 1Malaysia Development Bhd (IMDB) scandal and the government is committed to continue being transparent with each sen received,” he said.
According to Lim, the accumulated total of THM as at 3pm today (Oct 29) stands at RM196,322,746.30 which encompassed contributions received from individuals, organisations or bodies as well as interest from fixed deposit administered by JANM.
Lim said the government also expressed its appreciation to the Yang di-Pertuan Agong Sultan Muhammad V for his contribution to THM.
Lim said even though the total contributed by Malaysians could not be compared with the debt inherited by the government, THM would always be a symbol of loyalty and patriotism of Malaysians to help settle the country’s debt.
“The sincerity of the government to ensure the contribution of THM is based on the concern on the country’s debt was reflected by the rejection of an offer of a foreign company to donate RM100 million as it was suspected to have a motive for the contribution,” he said.