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.