That figure 8.25% is VERY misleading. Many financial blogs just quote the 8.25% figure without explanations. The same thing happened last year.

Actually, it's savings X 6.25% for those have done their Hajj, and ((savings - Hajj cost) X 6.25% + (Hajj cost X 2%)) for those who haven't.

My book was damagedby water. Tapi to get new one must make report la, Div 1 G officer or Ketua Kg la...So, lazy and never bothered. I have been potong gaji for 200/month since 1995 till now. Eventually I will withdraw. I have already been for the Haj while I was based there.

Kereta aku bocor dulu.....Proton maa...

Tabung Haji has entered into a deal to purchase 2 plots of TRX land from 1MDB for a total sum of RM772 million cash. Tabung Haji is using depositors money and not government funds.

Tabung Haji is believed to have paid a whopping RM2,860 per square feet (RM194million) for the first plot of land. Little birds in Tabung Haji confirmed it was a fast-track deal which gained the Minister's approval in less than two weeks and that the money has been paid to 1MDB in full, as demanded.

For the second plot of land in the same TRX vicinity Tabung Haji has agreed to pay RM3,900 per square feet (RM578million) in cash.

In a statement today, the influential watchdog for public and corporate governance said the primary function of the pilgrims’ fund board is to facilitate Muslim’s savings for their pilgrimage to Mecca.

“Thus, such excessive investment spending on the purchase of land and other deals should be made transparent by making the information readily available to the public before the leaks of the deal from the social media,” said TI-M president Datuk Akhbar Satar.

He also noted that “lack of openness and transparency in the high value investment creates vulnerability for corruption”.

“When the investment decision is not being conducted according to rigorous, open and transparent procedures, it can offer extremely lucrative opportunities for self-enrichment to officials who are involved in the decision-making process,” he said.

Akhbar also said “this episode also serves to show how the Official Secrets Act (OSA) can be misused”.

Are all corporate board papers for companies under OSA or just GLC entities?

Is this how Tabung Haji uses public money entrusted to it?

Contributors hope for their money with Tabung Haji would be managed for their good but the money is being used to rescue 1MDB which has lost billions of ringgit, Tun Dr Mahathir wrote.

Tabung Haji to sell TRX land in bid to end controversy
Published: Saturday May 9, 2015 MYT
KUALA LUMPUR: Lembaga Tabung Haji will be selling the parcel of land it purchased from 1Malaysia Development Berhad (1MDB) and expects to seal a deal within a fortnight.
Abduk Azeez  said all three offers were at least RM188.5mil but they were selling to buyer who would give them at least RM5mil profit.
Azeez said they received the advice, and not instructions, from Najib on Saturday morning.

http://www.thestar.com.my/News/Nation/2015...sell-land-1mdb/

who is the buyer? kwap or kwsp or .......?

Retirement Fund Inc (KWAP) will buy a parcel of land and building as its new headquarters at the Tun Razak Exchange (TRX) project in Kuala Lumpur City Centre, The Star reported today, with the price set for more than 15% lower than what Lembaga Tabung Haji had paid under its deal.

The English daily said KWAP would pay between RM1 billion and RM1.2 billion for both the land and a 40-storey tower in the site.

Quoting sources, it said the land was bought at about RM2,300 psf.

It said the heads of agreement on the purchase had been ironed out between KWAP and 1Malaysia Development Berhad (1MDB), which owned TRX.

still MUCH, MUCH more than what 1MDB paid for?
15% cheaper than TH, then not same as bail out?
seems like this time not much noises?

"not much noises because it's gomen staff pension fund"
can this logic be used on none gomen staff pension fund?
ah jhlow and ah jib must be thinking of this question now...

Pensioner, Zahari Yaakob, 56, from Negri Sembilan, said had the news of the purchase been announced by Tabung Haji representatives, it would not have created such panic among depositors.

"If they had announced it earlier, people would not have become this worried of losing their savings.

"Malaysians are all educated now, there should be nothing for Tabung Haji to hide," he said.

Zahari added that since he and his wife have both performed the haj, they were not too worried about the need to withdraw their savings.

"It's good though that they have acted fast by selling off the land," he said.

talked with tabung haji staff today.....latest que until today is 2084