Report: Harapan MPs claim RM10b Tabung Haji losses kept off the books

Modified 5 Apr 2019, 10:55 am

Several Pakatan Harapan lawmakers who attended a recent special briefing on Tabung Haji were informed of a further RM10 billion in losses which was allegedly kept off the books.

This, according to The Malaysian Insight (TMI), was on top of an RM4.1 billion deficit in 2017 which was already public knowledge.

Johor Bahru MP Akmal Nasrullah Mohd Nasir was reported as saying that a briefing held in Parliament last Wednesday linked part of the losses to Felda Global Ventures (FGV) shares being bought at inflated prices.

“It was revealed that when FGV shares fell… there were unrecorded losses and that in reality, the money (invested in FGV) is all gone,” he was quoted as saying.

Meanwhile, the portal quoted Sungai Petani MP Johari Abdul, who said, “Almost all of Tabung Haji’s businesses have made losses”.

The briefing was reportedly held to better explain the government’s intention to transfer Tabung Haji assets to a special purpose vehicle (SPV) as part of a turnaround plan.

Minister in the Prime Minister’s Department Mujahid Yusof Rawa had told Parliament that other options being considered were for the government to act as guarantor, or for it to provide a grant to Tabung Haji.

Share this story


By posting a comment, you agree to our Terms & Conditions as stipulated in full here


Foul language, profanity, vulgarity, slanderous, personal attack, threatening, sexually-orientated comments or the use of any method of communication that may violate any law or create needless unpleasantness will not be tolerated. Antisocial behaviour such as "spamming" and "trolling" will be suspended. Violators run the risk of also being blocked permanently.


Please use the report feature that is available below each comment to flag offending comments for our moderators to take action. Do not take matters in your own hands to avoid unpleasant and unnecessary exchanges that may result in your own suspension or ban.