Malaysian lawmaker demands clarity on Tabung Haji's politically linked investments

Datuk Seri Dr. Zaliha Mustafa, a Member of Parliament for Sekijang, has called on the Malaysian government to clarify several investments made by Lembaga Tabung Haji (TH), the Islamic pilgrimage fund, which allegedly have ties to political individuals or companies. She stressed the need for transparency to ensure the public understands the true situation behind TH's investment decisions, as highlighted in the Tabung Haji Royal Commission of Inquiry (RCI) report.

Among the specific investments under scrutiny are those related to WH Heavy Engineering, Destini, and the purchase of shares in Emrail. The RCI report noted that TH acquired a 15.3% stake in Emrail for RM20.1 million, but only RM2 million was paid after the put option was exercised, with the balance remaining unsettled. "If these companies are indeed linked to any political party, then this also needs clarification," Zaliha stated in the Dewan Rakyat.

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If these companies are indeed linked to any political party, then this also needs clarification.

Zaliha also questioned how the political leadership at the time allegedly intersected with TH's investment decisions. She referenced the purchase of TRX land from 1Malaysia Development Berhad (1MDB) for RM188.5 million in 2015. In the case of Putrajaya Perdana, the RCI recorded TH buying a 30% holding for RM193.5 million from Cendana Destini, an investment that subsequently failed to meet its targets.

"I was also informed that this investment proposal had reached former Prime Minister Datuk Seri Najib, and there were minutes of 'no objection' from him. So, if this information is true, I want the government to confirm this to the Dewan," she added. Zaliha further inquired about the status of 14 problematic TH investments and entities listed by the RCI for forensic audit, asking how many have been audited, the amounts recovered, and who has been held accountable.

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I was also informed that this investment proposal had reached former Prime Minister Datuk Seri Najib, and there were minutes of 'no objection' from him. So, if this information is true, I want the government to confirm this to the Dewan.