Putrajaya Perdana Acquisition Approval Took Place While The Company Was Under Jho Low’s Control

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Aug 11 (Bernama) – The entire approval process for Lembaga Tabung Haji’s (TH) purchase of a 30 per cent stake in Putrajaya Perdana Bhd in 2014 took place when the company was said to be under the control of Low Taek Jho, or Jho Low, through Utama Banking Group Bhd (UBG Bhd).

TH Posts Almost RM13 Bln In Losses From 14 Investments, Seven of Which 100 Pct Losses - Amir Hamzah

By Nurunnasihah Ahmad Rashid and Durratul Ain Ahmad Fuad

KUALA LUMPUR, Aug 11 (Bernama) -- Lembaga Tabung Haji (TH) incurred losses of nearly RM13 billion through 14 problematic investments, seven of which suffered losses of 100 per cent, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Tabung Haji Investment Losses Not All Due To Misconduct – Aminuddin

KUALA LUMPUR, Aug 11 (Bernama) -- Port Dickson Member of Parliament Datuk Seri Aminuddin Harun stated that discussions regarding investments by Lembaga Tabung Haji (TH) must be conducted fairly, as every investment carries risks, and not all losses incurred are due to misconduct.

Tengku Zafrul Calls For Stronger ASEAN Cooperation To Bolster Energy Security

KUALA LUMPUR, Aug 11 (Bernama) -- ASEAN needs stronger regional cooperation to bolster energy security and address the capital coordination challenges facing the region’s energy transition, said Malaysian Investment Development Authority (MIDA) chairman Tengku Datuk Seri Zafrul Abdul Aziz.

TH Needs To Reduce Reliance On UJSB Sukuk Income – Bentong MP

KUALA LUMPUR, Aug 11 (Bernama) -- The government has been asked to detail steps to reduce  Lembaga Tabung Haji's (TH) reliance on income from Urusharta Jamaah Sdn Bhd's (UJSB) sukuk, which, according to the Royal Commission of Inquiry (RCI) Report, contributes nearly 26 per cent of the institution's annual income.

Competitive Labour Costs, Skilled Workforce Boost Malaysia's Foreign Investor Appeal - CEO

KUALA LUMPUR, Aug 11 (Bernama) -- Malaysia's competitive labour costs, low land prices and strong human resources have made the country investor-friendly, said Hong Kong-listed Far East Consortium International Ltd. 

TH Impairment Policy Changed Twice In A Day For 2017 Profit Levels

KUALA LUMPUR, Aug 11 (Bernama) – The impairment policy of Lembaga Tabung Haji (TH) was changed from 70 per cent to 85 per cent and then 90 per cent within one day for financial year 2017, thus allowing the year's profits to be increased for the payment of profit distributions, according to the Royal Commission of Inquiry (RCI) Report.

Investment In Putrajaya Perdana Drags TH Into 1MDB Deal, Incurring RM145.3 Mln Loss

KUALA LUMPUR, Aug 11 (Bernama) -- Lembaga Tabung Haji’s (TH) investment in Putrajaya Perdana Bhd (PPB) and putting the then TH chairman as PPB chairman have dragged TH into 1Malaysia Development Bhd’s (1MDB) transactions, ultimately causing RM145.3 million in losses.

Asian Captive Conference 2026 To Focus On Emerging, Complex Risks

KUALA LUMPUR, Aug 11 (Bernama) -- The 8th Asian Captive Conference (ACC) 2026 will focus on the role of captive insurance in helping organisations manage emerging and increasingly complex risks amid a volatile global environment.

Mavenir Appoints Jitin Bhandari As EVP To Lead NeoCloud Expansion

KUALA LUMPUR, Aug 11 (Bernama) -- Mavenir has appointed Jitin Bhandari as Executive Vice President (EVP), NeoCloud Platform and Forward Deployment Engineering.

Government Bails Out TH With Over RM10 Bln To Restore Finances, Not Sell Assets

KUALA LUMPUR, Aug 11 (Bernama) -- The government rescued Lembaga Tabung Haji (TH) through a bailout exceeding RM10 billion due to mismanagement and embezzlement, to restore its financial position and not to take over the institution's assets, the Dewan Rakyat was informed today.

Govt Faced RM74.5 Bln Liability Risk If ‘Bank Run’ Occurred In 2018

KUALA LUMPUR, Aug 11 (Bernama) -- The government risked assuming liabilities of about RM74.5 billion if a massive panic withdrawal, or “bank run”, had occurred in 2018, said Minister in the Prime Minister’s Department (Religious Affairs) Dr Zulkifli Hasan.