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Tabung Haji lodges police report over illegal dividends

Published
Modified 16 Jan 2019, 11:29 am

Tabung Haji today lodged a police report in relation to its 2017 financial accounts and how representations made by key executives led to the declaration of dividends (hibah) in violation of the Tabung Haji Act 1995.

"In the police report, Tabung Haji identified two executive working papers presented to the board of directors at two special board meetings on Feb 6 and Feb 9, 2018.

"The executive working papers were prepared by group chief financial officer Rozaida Omar and supported by group managing director and chief executive Johan Abdullah.

"The executive working papers contained statements and representations which led to incorrect figures being reflected in the said financial statements which were accepted by the board," the fund said in a statement.

Last December, Minister in the Prime Minister's Department Muhajid Yusof Rawa revealed that Tabung Haji had continued to disburse dividends despite being in deficit since 2016.

According to the Tabung Haji Act 1995, the pilgrimage fund cannot disburse dividends if its liabilities are more than its assets.

“On the basis of the said financial statements, the Tabung Haji board of directors made a recommendation to the minister responsible, who then approved the declaration of a distributable hibah for the financial year 2017 of 4.5 percent and a hibah haji of 1.75 percent in contravention of section 22 of the Tabung Haji Act 1995.

"The audited financial statements of Tabung Haji for the financial year ending Dec 31, 2017, were signed off on April 3, 2018 by chairperson Abdul Azeez Abdul Rahim and Johan on behalf of the Tabung Haji board and Rozaida as the principal officer primarily responsible for the financial management and accounting records of Tabung Haji," it said.

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