Secrets, kid gloves and heavy losses
The Tabung Haji RCI report is out. Is it good enough?
I wrote this on Tuesday and it’s a good primer to set the stage of what will be a series of multiple newsletters on pilgrims’ fund Lembaga Tabung Haji (LTH).
While things have improved over one of Malaysia’s most troubled government-linked investment companies (GLICs), the fund is still not out of the woods.
More so since we have new material to work with: the Royal Commission of Inquiry’s report.
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The Tabung Haji (TH) Royal Commission of Inquiry report is finally public after Anwar’s government declassified it yesterday.
We knew the headline story: in 2017, the pilgrims’ fund-cum-GLIC reported a RM3.4 billion profit when it should have booked a RM1.4 billion loss.
Today’s brief takes a broad look at what was made public as I’ll save the meatier one for a weekend long read.