Scoring a pilgrims’ fund
Tabung Haji claims 75% of reforms done. Not so fast.
And here it is: the promised deep dive on Lembaga Tabung Haji (TH).
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By now every major publication has run something on TH, the government investment linked company-cum-pilgrims’ fund on the mend.
The Edge took a deep dive into the 14 troubled investments and also lessons learnt. The rest just went with the usual coverage of the RCI.
LTH came up with a statement that it had enacted 75% of reforms and had moved on.
Has it really?
So I am going to do three things here.
Firstly, I’ll draw up a scorecard. Secondly, I’m going to cite a 2018 financial review report on something that has not been reported but still deserves attention.
Lastly, I’ll do a sweep on the 14 failed investments to round up the newsletter.
And at the end of the newsletter is a bonus terms and definitions box to make sense of the jargon used in the RCI and other TH-related reporting.
I’ll begin with the scorecard.