TH records highest profit in its 52-year history

TH depositors will be getting a 5% bonus plus 3% Hajj bonus for those who have yet to perform the Hajj.

(Free Malaysia Today) – Lembaga Tabung Haji (TH) today revealed that it managed to rake in RM3.53 billion in profit, the highest it has recorded since it was established 52 years ago.

The amount, according to Minister in Prime Minister’s Department Jamil Khir Baharom, represented a  19% increase from the RM2.98 billion earned in 2014.

“With this performance, TH will be distributing RM3.23 billion to our 8.85 million depositors, which means each individual will be getting a 5% bonus.” he said, adding that those who had yet to perform the Hajj would get an additional bonus of 3%.

“From the total profit, RM59.3 million will be used to pay for zakat while RM300 million will be kept for TH’s reserves,” he said in an announcement at TH headquarters here today.

Jamil Khir said TH had decided on the amount of reserves after considering Bank Negara Malaysia’s recent assessment of its reserve levels.

The central bank recently said that TH’s reserve levels were in the negative and it would not be able to pay dividends this year if it did not take steps to resolve the matter.

In a letter dated December 23, Bank Negara Governor Zeti Akhtar Aziz told the pilgrims’ fund that it had only 98 sen in assets for each ringgit in liability.

Section 22 of the Tabung Haji Act stipulates that it could not announce dividends and bonuses if its assets were worth less than its obligations.