PKR reveals more losses for Tabung Haji in deal with oil and gas company


I suggest you investigate (and invest) in THHE. The share prices will awake, same time as The Force. Really.

Dateline 2015-05-18, TMI:

Lembaga Tabung Haji has also incurred millions of ringgit in losses from another investment with an oil and gas company, PKR said today, even before questions about the pilgrims’ fund’s purchase of land from debt-ridden 1Malaysia Development Bhd (1MDB).

Tabung Haji’s purchase of shares from oil and gas support services counter Ramunia Holdings Bhd, resulting in losses based on the current price of its shares, had gone unnoticed, PKR lawmaker Rafizi Ramli (pic, right) said today when debating the Capital Markets and Services (Amendment) Bill 2015 in the Dewan Rakyat.

The Pandan MP said that in 2007, Tabung Haji had progressively bought shares in Ramunia Holdings, and by the end of 2008 held 25% of the company’s shares, which it purchased for between RM1 and RM1.40 per share.
In June 2012, the company was renamed TH Heavy Engineering to reflect the fund’s interest in the company.
Currently, the shares are trading at 30 sen per share, Rafizi said, which meant that Tabung Haji had incurred losses worth millions of ringgit from this one investment alone.

 

 

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