SPV under MoF to take over RM19.9bil underperforming assets from Tabung Haji

Tabung Haji CEO and MD Datuk Seri Zukri Samat. – Bernama

KUALA LUMPUR: A Special Purpose Vehicle (SPV) under the Finance Ministry will take over an estimated RM19.9bil worth of Tabung Haji's (TH) underperforming assets, says its chief executive officer and managing director Datuk Seri Zukri Samat (pic).

He said that in return, "the SPV will issue RM10bil sukuk and RM9.9bil of Islamic Redeemable Convertible Preference Shares".