Tabung Haji 1H22 income at RM1.47bil

PETALING JAYA: Lembaga Tabung Haji (TH) posted a total income of RM1.47bil for the first half of 2022 (1H22), with total deposits of RM88.09bil, 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,” Bernama reported.

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

“Moving forward, TH will continue its efforts to increase income through investments 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 RM966.34mil in the first half, accounting for 65.71% of the total gross income.

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

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

Meanwhile, back in July, TH announced that it was strengthening its investment in the real estate market overseas after finalising negotiations to purchase a building in London.

In a statement, Amrin said the purchase of the freehold building was in addition to TH’s property investment portfolio in the United Kingdom since 2012.

The property is a government office building which houses the UK’s Department for Transport.

The six-storey office building spanning 179,869 sq metres is known as Great Minster at 33 Horseferry Road, Victoria.

It is sited in a strategic location amidst the biggest business district in West End, London, and is a commercial hub that is currently expanding rapidly.

Victoria also houses many government and public sector offices due to its location in the proximity of the Parliament building, and with easy accessibility to major public transportation including underground train stations at Pimlico, Westminster and Victoria, as well as other main transportation networks.

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