TH group managing director and CEO Datuk Seri Zukri Samat(pic) has said that properties with yields of less than 2% and equities with impairments exceeding 20% would be acquired by the SPV at book value
KUALA LUMPUR: Lembaga Tabung Haji will be legally capable to pay dividends to its depositors for 2018 following a recent turnaround plan.
However, the pilgrim fund’s group managing director and chief executive officer Datuk Seri Zukri Samat warned depositors not to expect too much.
“We have restored the balance sheet of Tabung Haji, putting us in a position to pay hibah for 2018,” he said today during a press briefing about the fund's turnaround plan.
“But don’t expect too much,” he added, noting the general weak performance of the domestic and global equities markets last year.
Urging depositors to be patient, Zukri said he was confident that Tabung Haji’s financial position would continue to improve and the fund would be in a much better position to pay higher dividends to its depositors for 2019.
It was revealed last month by the Pakatan Harapan led Government that Tabung Haji had been illegally paying dividends to its depositors since 2014.
According to the Tabung Haji Act 1995, the fund can only pay dividends to its depositors in a particular year when its assets at the end of that year are more than its liabilities, and there are distributable profits.
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