Tabung Haji equity rises by RM1.12b, denies selling stakes in past year

The RM1.12 billion increase is due to TH’s investments in the main companies on the Bursa Malaysia. — Picture by Yusof Mat Isa
The RM1.12 billion increase is due to TH’s investments in the main companies on the Bursa Malaysia. — Picture by Yusof Mat Isa

KUALA LUMPUR, Sept 30 — The domestic equity value of pilgrimage fund Lembaga Tabung Haji (TH) has increased from RM6.36 billion at the end of last year to RM7.48 billion, it announced.

It said RM1.12 billion increase is due to TH’s investments in the main companies on the Bursa Malaysia, particularly those with financial achievements, good dividend records, and generate stable and Shariah-compliant revenue.

“These include Tenaga Nasional Berhad, one of the biggest holdings in TH’s portfolio. Overall TH’s holdings has increased by RM304 million in the past 18 months,” the fund said in a statement.

For 2019, TH said that neither owns nor disposed of its share holdings in companies such as FGV Holdings Berhad, Lion Industries Corporation Berhad, T7 Global Berhad, Shin Yang Shipping Corporation, Brahim’s Holdings Berhad and Cheetah Holdings Berhad, contrary to recent media reports.

“Tabung Haji has instead taken the opportunity to invest and strengthen its portfolio, and has never let go of its RM2.6 billion equity holdings in the past three months.

“Alongside equity, TH also endeavours in seeking out other opportunities in all classes of assets, including real estate and financial instruments that generate steady revenue, such as sukuk bonds,” TH said.

The fund added that it remains dedicated to upholding the interests of its depositors, investing prudently and in line with allocating strategic assets, prioritising long-term sustainable revenue by taking into account the suitable risks.

“TH will continue to maintain a high level of administration in handling the monies entrusted to it,” the fund said.

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