Review finds Tabung Haji in dire straits

Uncertain future: As pilgrims hopefuls wait for their chance to perform the haj, consultants have highlighted that TH was sitting on up to RM10.2bil in losses of its domestic and international equities as of October this year.

PETALING JAYA: Over-stated profits, over-stated value of assets, an unbalanced profile of depositors and questionable transactions were all uncovered in the review of the financial position of Lembaga Tabung Haji (TH).

The consultants highlighted that TH was sitting on up to RM10.2bil in losses of its domestic and international equities as of October this year and its liabilities outstripped assets by RM9bil.