Tabung Haji's H1 2019 net profit rises to RM815mil

The pilgrimage fund announced yesterday that it had recorded RM1.3bil in revenue during the six-month period, generated primarily from fixed-income asset investments (RM663mil), real estate investments (RM292mil) and Islamic money market instruments (RM199mil).

KUALA LUMPUR:  Lembaga Tabung Haji (TH) recorded a stronger financial performance  in the first half of 2019, underpinned by sustainable investment strategy and prudent cost management measures.

The pilgrimage fund announced on Thursday it recorded RM1.3bil in revenue due to its sustainable investment strategy and prudent cost management measures.

The revenue was generated primarily from fixed income assets investments (RM663mil), real estate investments (RM292mil) and Islamic money market instruments (RM199mil).

TH's net profit increased to RM815mil as a result of continuous cost savings in management and administration.

It expected its income to increase further when it receives the full benefits from Sukuk Urusharta Jamaah Sdn Bhd which was issued on May 30, 2019.

It also pointed out the change in its investment strategy to focuse more on stable investment assets enabled it to reduce the pressure from uncertain financial market conditions due to global trade tensions.

As at June 30, 2019, TH's financial position remained strong as total assets exceeded total liabilities by RM1.8bil, with total assets of RM74bil while total liabilities were RM72.2bil.

TH said the trust and support of depositors to TH remained intact with the amount of deposits remaining high at RM71bil as at June 30, 2019.