Tabung Haji declares 5pc dividend for 2015

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LTH recorded a turnover of RM4.46 billion million for the 2015 financial year, making RM577 million in net profit year-on-year. ― File pic KUALA LUMPUR, Feb 4 — Lembaga Tabung Haji (LTH) announced today a 5 per cent dividend for its 8 million depositors for the 2015 financial year, a 1.25 percentage point drop from the previous year.

Minister in the Prime Minister’s Department Datuk Seri Jamil Khir Baharom also announced a 3 per cent bonus for depositors who have yet to perform the haj.

The minister said the payout to depositors will amount to a total of RM3.2 billion. “Thank God almighty that despite the challenging and uncertainties faced in 2015, LTH’s financial performance remained robust,” he said.

According to the minister, LTH recorded a turnover of RM4.46 billion million for the 2015 financial year, making RM577 million in net profit year-on-year. “It is the highest recorded turnover and profit in LTH’s 52 years of operation,” Jamil Khir told the media briefing at the fund’s office here. The fund’s finances came into public attention after a letter from Bank Negara Malaysia warning the fund that its assets were insufficient to meet its liabilities, was leaked to the public.

Last week, LTH CEO Tan Sri Ismee Ismail denied its reserves was in the negative, indicating that BNM had calculated wrongly because the central bank did not take into account the fund’s investment portfolios such as its subsidiaries, plantation assets and properties. Ismee stated further that the fund’s cash assets alone as at December 31, 2015, stood at RM10.7 billion, a point he reiterated today.

He said LTH will continue to make sound but “cautious” investment moves for 2016, taking into consideration market uncertainties. “I think we will continue with our fixed income investment portfolios, especially in real estate,” Ismee said.

Depositors are scheduled to receive their dividend payouts on February 10. LTH chairman Datuk Seri Abdul Azeez Abdul Raheem who was speaking at the same press conference said today’s announcement proves that the pilgrimage fund’s reserves are healthy unlike what was reported.

“If you look at our performance for 50 years up to 2006 the total bonus payout was about RM5 billion. But since 2006 to 2015, the bonus payouts totalled RM18 billion. “That shows our finances are strong.

Source: http://www.themalaymailonline.com/malaysia/article/tabung-haji-declares-5pc-dividend-for-2015