Lembaga Tabung Haji posts RM1.47bil income in 1H22

KUALA LUMPUR: Lembaga Tabung Haji (TH) posted a total income of RM1.47 billion for the first half of 2022 (1H22), with total deposits of RM88.09 billion, the highest level in the 59 years of its establishment.

For the first six months, more than 200,000 new savings accounts were opened, further increasing TH’s depositors to 8.6 million people.

"This achievement reflected TH’s resilience despite facing the after-effects of the COVID-19 pandemic which has not ended, among which were the effects of inflation, market uncertainty, and global economic weaknesses,” TH said in a statement today.

Group managing director and chief executive officer Datuk Seri Amrin Awaluddin said an investment approach that prioritises a safe return reflects TH’s commitment to safeguarding depositors’ interest by preserving and increasing their savings.

"Moving forward, TH will continue its efforts to increase income through investment and manage operational costs more efficiently, ensuring sustainability and stability of income distribution for depositors.

"TH will also continue to focus on a high level of governance, compliance and integrity for the benefit of TH and its depositors,” he said.

According to TH, the bulk of the income was derived from fixed income investments that had contributed RM966.34 million in the first half, accounting for 65.71 per cent of the total gross income.

Investment in equities contributed RM224.62 million, an improvement of RM41.27 million compared to RM183.35 million in the same period last year.

"After accounting for expenses and zakat, TH reported a net profit of RM1.03 billion for the first six months to June 30, 2022, compared to RM1.22 billion for the same period in 2021,” the pilgrims' fund board said. -- BERNAMA

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