Tabung Haji assets more than liabilities now, says Fuziah
The deputy minister says the pilgrims fund recorded a net profit of RM815 million for the first half of 2019.
KUALA LUMPUR: Pilgrims fund Lembaga Tabung Haji recorded a net profit of RM815 million for the first half of 2019 thanks to the cost-saving measures put in place, the Dewan Rakyat heard today.
Deputy Minister in the Prime Minister’s Department Fuziah Salleh said Tabung Haji’s overall standing remained stable as of June 30 with assets of RM74 billion compared to liabilities of RM72.2 billion – a difference of RM1.8 billion.
“This is compared to the RM1 billion difference in assets and liabilities as of Dec 31, 2018,” she said.
She was replying to Hasan Arifin (BN-Rompin) who had asked about Tabung Haji’s revenue up till June 2019.
She said Tabung Haji does not depend solely on the sale of assets as its earning are also raised through dividends, sukuk holdings, lease arrangements and bank deposits.
Between January and June, she said, it achieved RM1.32 billion in earnings on the back of contributions from fixed asset investments (RM663 million), real estate (RM292 million) and Islamic financial market instruments (RM199 million).
As of June 30, Tabung Haji had disposed of assets worth RM1.219 billion. These include shares worth RM803.9 million, financial instruments with a book value of RM405.3 million, and property worth RM10.4 million.
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The amount raised from the disposed assets was RM61.1 million.