In a press statement, the party’s deputy president Salahuddin Ayub stressed it was better if TH took heed of Bank Negara Malaysia’s warning on reserve policies instead of irresponsibly brushing off their warning.

“Amanah predicts that TH would be hit by a crisis of confidence among its depositors and investors unless immediate action is taken,” Salahuddin said.

TH had yesterday announced a profit of RM3.53 billion.

Four days ago it was reported that TH sold an office building at 151 Buckingham Palace Road, purchased in October, for £250 million, a 22 per cent increase since acquiring the property in 2014.

It was reported last month that TH’s reserve levels were in the negative and that the pilgrim fund would not be able to pay its depositors unless it liquidated its assets soon.

The claims were allegedly based on an unverified letter sent by outgoing Bank Negara Malaysia Governor, Zeti Akhtar Aziz to TH’s chairman Abdul Azeez Rahim, in December.

With its sale of assets in London, Salahuddin said he now wanted TH to come clean over the supposed sale of the Tun Razak Exchange (TRX) land in Malaysia as well.

In May 2015, Abdul Azeez announced that the fund would sell the land on the advice of the Prime Minister out of respect of the sensitivities of the fund’s depositors.

However, Abdul Azeez announced yesterday that TH had decided to develop the land instead.

“It is unfortunate if the decision on the purchase was made without proper planning and research and done to satisfy the whims of political leaders.

“Such policies must be stopped or else TH cannot be saved,” Salahuddin warned.