Under fire, Tabung Haji says received RM1.06b from oil and gas investments

Stop. Picking. On. TH.

Dateline 2017-01-26, Malay Mail Online:

Pilgrimage fund Lembaga Tabung Haji (TH) said today it recorded a RM1.06 billion cumulative revenue from all its investments in the oil and gas sector, amid claims that it may have lost RM700 million from the move.

TH said its diversified investments in various sectors have enabled it to cover the increasing costs of Haj operations and subsidy for Malaysian pilgrims every year since 2000, which is expected to rise to around RM200 million this year.

“TH is a long term investor in the oil and gas industry. TH first made investment in this sector in 2001 and has recorded a respectable cumulative RM1.06 billion income from all our investments therein,” TH said in a statement here.

The company however did not specify the amount of profit from its investments into the industry.

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