KUALA LUMPUR: Tabung Haji (TH) is studying the possibility of separating the needs of their depositors based on the purpose of their investments, the Dewan Rakyat was told today.
Deputy Minister in the Prime Minister’s Department Fuziah Salleh said this was because its depositors comprise those who save up for the purpose of performing the Haj as well as for investment.
“Those who deposit for Haj have different needs than those who save for investment. We have to protect their investments in TH by balancing these needs.
“As for the board members, I am confident that they uphold the government’s aspirations to protect TH,” she said in reply to a supplementary question by Datuk Hasan Arifin (BN-Umno-Rompin).
Earlier, Fuziah said TH’s financial positions remained strong with its assets valued above its liabilities by RM1.8 billion as of June.
She said this was in comparison to Dec 31, 2018 where its assets stood at RM1 billion compared to its liabilities.
In the first half of 2019, she said TH generated RM1.32 billion from its fixed deposit income investments (RM663 million), real estate investment (RM292 million) and Islamic financial instruments (RM199 million).
She said total assets and liabilities stood at RM74 billion and RM72.2 billion, respectively.
She said its net profit had increased to RM815 million, attributing it to effective investment strategies and prudent cost-saving measures.
“Throughout 2019, the value of its domestic equity increased by RM1.12 billion from RM6.36 billion at the end of 2018, to RM7.8 billion up to September 27, 2019,” she said.
She said TH had made RM1.2 billion by selling its assets with a profit of RM61.1 million, of which RM27.9 million profit was made through the selling of RM803.9 million assets in the stock market, RM25.3 million profit from RM405.3 million financial instruments and RM7.9 million profit from the sale of properties worth RM10.4 million.
Fuziah also clarified that no assets had been sold since they were put under the Special Purpose Vehicle (SPV) entity nine months ago.