Shortfall at haj fund the latest headache for KL

The Pakatan Harapan administration is now weighing options to deal with Tabung Haji, whose assets are RM4 billion short of deposits.
The Pakatan Harapan administration is now weighing options to deal with Tabung Haji, whose assets are RM4 billion short of deposits.THE STAR/ASIA NEWS NETWORK

Tabung Haji's 2016 assets are RM4b short of deposits, with allegations it cooked the books to justify dividend payout

Malaysia's RM64 billion (S$21 billion) Muslim pilgrimage savings fund is the latest state-owned giant to come under the new government's radar for financial mismanagement under the ousted Barisan Nasional (BN).

The Pakatan Harapan (PH) administration is now weighing options to deal with Tabung Haji (TH), whose assets are RM4 billion short of deposits by nine million would-be pilgrims, according to its last financial report in 2016, with more losses likely since.

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A version of this article appeared in the print edition of The Sunday Times on December 02, 2018, with the headline 'Shortfall at haj fund the latest headache for KL'. Print Edition | Subscribe