Government denies selling Tabung Haji's strategic assets

The Malaysian government has firmly denied allegations that strategic assets belonging to the Pilgrims Fund Board (Tabung Haji or TH) have been sold off. The claims had circulated following remarks by former Treasury Secretary-General Tan Sri Ahmad Badri Mohd. Zahir.

Minister in the Prime Minister's Department (Religious Affairs), Dr. Zulkifli Hasan, clarified that instead of selling assets, the government has transferred less competitive and problematic TH assets to Urusharta Sdn Bhd. This entity is a wholly-owned Special Purpose Vehicle (SPV) established by the government.

This strategic restructuring is intended to enhance TH's financial performance and operational capabilities. By isolating underperforming assets within the SPV, TH can focus on its core mandate of managing haj savings and investments more effectively. The government emphasizes that this is a measure to strengthen, not diminish, TH's position.