Urgent Audit Demanded for Urusharta Jemaah

Members of Parliament are demanding a thorough audit of Urusharta Jemaah Sdn. Bhd. (UJSB) to provide a complete picture of Lembaga Tabung Haji's (TH) assets that were transferred to the company following its restructuring. The focus should extend beyond TH's management up to 2020 to include UJSB's position and management thereafter.

Several questions remain unanswered, particularly concerning the sukuk structure, its repayment, and UJSB's financial health. Lawmakers are seeking clarity on who currently controls and manages UJSB and what has become of TH's assets after their transfer. They are also questioning the profits or returns generated from these assets post-transfer.

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I want to ask that attention not only be given to Tabung Haji's management until 2020. UJSB also needs to be looked at and audited.

There are concerns that UJSB's audit has only covered the period up to 2020, while significant transactions, especially those involving unpaid sukuk issuances, have occurred since then. The government is urged to explain the status of TH's RM9.63 billion in assets, which were reportedly exchanged for RM19.9 billion in zero-coupon sukuk instruments, to verify if TH's financial issues have truly been resolved.

Allegations suggest UJSB has been profitable and able to pay bonuses to its employees, despite taking over assets from TH. Lawmakers are pressing for honest answers, emphasizing that these were not problematic assets but valuable ones like hotels and plantations capable of generating substantial returns. The primary purpose of UJSB was to take over and manage TH's assets due to the institution's financial situation.

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We heard allegations that UJSB made profits and could pay bonuses to its officers, even though the assets taken were from TH. Is this true?