Tabung Haji defends decision to buy TRX land from 1MDB

KUALA LUMPUR: Lembaga Tabung Haji is buying the plot of land in the Tun Razak Exchange (TRX) from 1Malaysia Development Bhd (1MDB) at a discount of about 3% from the fair value of the real estate assessed by an independent valuation firm.

Tabung Haji defended its decision to purchase the land, saying it was forking out RM188.5mil for the 1.6 acre (0.64ha) parcel while its fair value was RM194mil.