BNM releases press statement today.

http://www.bnm.gov.my/index.php?ch=en_pres...ac=3325&lang=en

LUTH press statement today. There is no denial of Zeti's warning letter.

https://cms-th.s3.amazonaws.com/26012016+Pr...min+Selamat.pdf

TH management  gonna take legal action on those who 'leak' the BNM letter to public!

Lembaga Tabung Haji will distribute RM3.23bil in bonuses to its depositors, according to Datuk Seri Jamil Khir Baharom.

The Minister in the Prime Minister's Department announced that the 2015 dividend rate was 5%, with a further 3% for depositors who have yet to perform the haj.

He said the combined 8% dividend would benefit 8.23 million Tabung Haji depositors who have yet to perform their pilgrimage.

In 2014, depositors received an annual dividend of 6.25% in addition to 2% for those who had not performed their haj.

Tabung Haji is not a company hence not bound by Companies Act. It is bound by its own Tabung Haji Act.

However, yes the amendments in CA is really long due....

For example section 365 is as below, there is no mention on current (year) profit. Profit was not defined in Companies Act as such subject to a very wide interpretations...

365. (1) No dividend shall be payable to the shareholders of any
company except out of profits or pursuant to section 60.

don't waste the money to so called "independent auditor" because there are none independent audit firm available in the world.

ENRON was audited by the biggest independent audit firm in the world that time. And THAT shit happen.

Don't you know the rule "I pay you money, you pay me respect".

Unless you run a kacang putih company which the auditor has the power to go against you.

9.5 months after financial year end finally they make a note on why is 2015 Annual Report still not out yet

The annual report for 2015 (current) cannot be viewed in public due to still awaiting presentation to Parliament.
http://www.tabunghaji.gov.my/th-annual-report

I'll continue to watch the space. Esp with the developments in TH Heavy Engineering

A well researched piece

http://www.theedgemarkets.com/my/article/t...medium=facebook

2016 numbers seem even worse

It's finally up.

https://cms-th.s3.amazonaws.com/Lembaga+Tab...+Statements.pdf

For your reading pleasure

Anyway, for the non-accounting geeks, pay attention to
- other reserves in page 251
- Changes in fair value of securities available-for-sale on page 253 and 254

In summary, the unrealised loss widens. And the concern that BNM stated in the advisory letter continues, and in fact worsened

Correct, I think this year is even worse. But no one cares I guess

Rafizi urges early action on Tabung Haji’s RM3b fund deficit
http://www.theedgemarkets.com/my/article/r...?type=Corporate

hahaha I guess no action would be taken. "close one eye" 

wow announced already. quite early this year..last year announce high so need extra time to try find money..lol

but people need to understand that the dividend is 4.25% only its already deducted 2.5% for zakat purpose. so gross is actually 6.75%

i wonder people who save in ASB whether they pay zakat anot     

So the Tabung Haji annual report is out

I focuses more on financial statements. Numbers don't bluff (or bluff less)

https://cms-th.s3.amazonaws.com/Lembaga+Tab...l+Statement.pdf

Good news - the unrealised losses on AFS investments is less than 2015, only RM600m

Bad news - Retained earnings is negative RM700million at group, looks like it's due to negative retained earnings from the subsidiaries. The fund's retained earnings is still slightly positive at RM79million
Its associates - Pelikan and THHE both make huge losses during the year and worth much less than what the fund paid for
Investment properties recorded a RM300 million fair value loss which is 4.2% over total IP value, makes you wonder how properties can make such big loss
There's a RM300million goodwill in the group, can't really find details of which CGU this is from so can't tell if impairment may be needed.
The provision for retirement benefits of RM500million is also not funded, means no planned assets injected into the retirement plan. This is not a good idea. When they start to pay for the retirement benefits then they would scramble for cash as the fund fully paid out the earnings to the depositors. The returns to depositors would reduce in the future due to this cost as well. The provision amount might be significantly higher as the medical inflation rate used is only 4.5%-5.5%. We all know the actual medical inflation rate.
O/T: It's damn good employment benefit though, muslims should consider joining TH just for this benefit

Tabung Haji still doesn't like to impair its investments unlike EPF who would do that actively

what I know..

not easy to join TH nowadays..

the job "quota" full.. also have some "waiting list"