ALL Malaysians must have been shocked by the 1.25% Hibah Tabung Haji declaration made by YB Dr. Mujahid Yusof Rawa, the lowest in the history of Tabung Haji (TH)!

As expected the Minister to use the narrative to blame the previous government and the management, of the so-called manipulation of accounts and abuse of power up to 5 years in a row to declare a higher Hibah to depositors.

What is Hibah?

What is Tabung Haji?

Before the Minister and the new management of TH continue to blame game, it is better to be transparent to the people to explain some of the key issues that led to this low-level Hibah declaration:

Why TH only distributes RM913 million only to depositors when they announce an allowable profit for the financial year 2018 of RM2 billion?

Where is the remaining RM5.8 billion profit from the sale of TH's worth of assets to SPV Company Urusharta Jemaah Sdn. Bhd.? As reported previously by the YB Minister, total assets worth RM10 billion have been successfully sold at RM19.9 billion. If this profit is used to cover the deficit of RM4.1 billion assets in 2017, then it is still at RM5.8 billion. However, TH only declares RM2 billion only profitable distributable. Where did the remaining RM3.8 billion proceeds from the sale of TH assets?

What is the guarantee that the assets sold by TH to Urusharta Jamaah Sdn. Bhd. can be redeemed at the proper value. What happens if the value of these assets is less than the value of Sukuk held by TH? Of course TH had to record losses. As such, 'Government guarantees' are very important, but as reported, the Ministry of Finance insists that no 'Government Guarantee' is granted. How can TH's interests be kept?

In the event of misappropriation, fraud, manipulation of accounts by previous management, why has no prosecution been made against them today? Instead, the Minister preferred to trigger sentiment and punish them in court of perception. Is this a way of covering the weaknesses of the Pakatard Government administration which is essentially responsible for scaring investors with a high-debt nation narrative and going bankrupt, inconsistent and misleading foreign policies resulting in TH's palm oil and rubber stocks plunging to fall after the exchange of the Government in May 2018.

Is it true that TH's investment activity has been suspended since last year until today that the Investment Committee is not meeting and TH is unable to generate any investment as it normally does, except selling assets such as valuable TH property to SPV? (Among the valued properties sold include TRX Land bought at RM196 million and sold at RM400 million; Platinum Park sold at RM737 million while the purchase price is RM485 million; this excludes TH hotels that are also sold in TH Bayan Lepas, TH Kuching, TH Hotel Kelana Jaya, TH Hotel Kota Kinabalu, TH Hotel Alor Setar, TH Hotel Terengganu).