Tabung Haji confident of winning depositors' trust

KUALA LUMPUR, March 21 (Bernama) -- Tabung Haji is confident it will win back the trust of depositors in it as a trustee to manage their savings and investments.

Deputy Minister in the Prime Minister’s Department Fuziah Salleh said with the comprehensive recovery plan and a new management line-up, Tabung Haji was optimistic of getting back on the right track.

She said  Tabung Haji was applying two things, namely not violating any laws as well as ensuring there were no weaknesses in its financial management.

“When we were placed under the supervision of Bank Negara (BNM), there is some risk control there. This will ensure that we regain the trust of the people in Tabung Haji that we are on the right track,” she said, after appearing as a guest on the Ruang Bicara programme on Bernama News Channel at Wisma Bernama here last night.

Fuziah also said the setting-up of a special purpose vehicle (SPV) would also maximise the recovery of assets which had not performed.

“Future investments will be monitored by BNM which will look at the risks while the new management will also look at it, so God willing, Tabung Haji will not be investing in any company which is not profitable,” she said.

She added that she hoped the public, especially depositors, would continue to have faith in TH’s management and Board of Directors’ ability to mobilise the recovery agenda.

Last Monday, Minister in the Prime Minister’s Department Datuk Seri Mujahid Yusof Rawa told the  Dewan Rakyat that Tabung Haji had increased its assets to RM76.5 billion compared to RM75.5 billion in 2018 through its recovery and restructure plan.

-- BERNAMA