TH’s performance better? Data shows otherwise, says Najib

Najib Razak says Tabung Haji declared a dividend of 1.25% for 2018 compared to 6.25% in 2017 under BN rule.

PETALING JAYA: Najib Razak today poured scorn on a claim by the minister in charge of Islamic affairs that Lembaga Tabung Haji’s performance and financial standings had improved in the first half of 2019.

The former prime minister said the pilgrimage fund’s net profit had dropped to RM375 million in the second quarter from the RM440 million recorded in the first quarter.

He noted that TH’s revenue for the first half of this year came to RM1.3 billion, which amounted to 30.9% of the money earned in 2018 and only constituted 28.4% of the revenue recorded in 2017.

TH’s asset value, the Pekan MP went on to say, dropped to RM74 billion in June from the RM76.5 billion recorded during the same period in 2018.

This meant Tabung Haji’s performance was still weak after a “hibah” (dividend) of 1.25% was declared for 2018 – the lowest rate given to depositors in its history – compared to 6.25% in 2017 under the Barisan Nasional administration, he said in a Facebook post.

Najib was responding to a Facebook post by Minister in the Prime Minister’s Department Mujahid Yusof Rawa who had, several days ago, said TH’s finances were improving.

He went on to wonder if Mujahid understood the facts.

“He keeps saying it (TH’s performance) is good although the data shows it is sluggish,” Najib said. - FMT