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 Business

Tabung Haji records RM1.55 bln investment income in H1 2020

10th July, 2020

KUALA LUMPUR: Lembaga Tabung Haji (TH) has recorded RM1.55 billion in investment income during the first half of this year (H1 2020), supported by sukuk and equity investments.

TH said, fixed income investments accounted for RM1 billion or 65 per cent of its total investment income for the period of January-June 30, 2020.

“Property investments generated an income of RM204.57 million, Islamic money market investments contributed RM187.13 million and RM150.27 million was derived from equity investments,” it said in a statement, Thursday.

It added that the increase in revenue generated a net profit of RM1.25 billion for H1 2020 compared to RM849.66 million in H1 2019.

TH’s total assets exceeded its liabilities by RM1.86 billion as at June 30, 2020, it said.

Meanwhile, group managing director and chief executive officer, Datuk Nik Mohd Hasyudeen Yusoff said as an institution responsible for the management of hajj and investments, TH was also adversely affected by the COVID-19 pandemic due to the measures implemented to halt the spread of the virus.

“The COVID-19’s significant impact on world economy and the country posed a major challenge for TH in terms of managing the investments and protecting the interests of depositors.

“TH has also taken steps to identify the impact of COVID-19 on the investments through regular monitoring, while operationally, TH needs to be more efficient by improving its services and reducing costs,” he said.

Nik Mohd Hasyudeen said, TH is also preparing for a more challenging hajj management next year following the postponement of the 1441H/2020M hajj season for Malaysian pilgrims, including new challenges such as the provision of services in light of the pandemic.

As of June 30, 2020, total deposits improved to RM73.86 billion compared with RM69.42 billion on Dec 31, 2019, with over 123,000 new savings account openings during H1 2020. –Bernama

   
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