Fri. Aug 14th, 2020

Tabung Haji records RM1.55b ($4.3 million) investment income in first quarter of 2020

 

Lembaga Tabung Haji 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.

 

KUALA LUMPUR, July 9 ― 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, today.

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 Haj 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 the 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 Haj management next year following the postponement of the 1441H/2020M Haj 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

Malay Mail

Sharing!

Leave a Reply

Your email address will not be published. Required fields are marked *

shares