Cabinet agreed to declassify and publicly release the TH RCI report covering 2014-2020, says Fahmi
PETALING JAYA: The Royal Commission of Inquiry (RCI) report on the management of Tabung Haji (TH) between 2014 and 2020 has been declassified and will be made public today, with enforcement agencies set to continue investigations into possible breaches of the law.
Government spokesman Datuk Seri Fahmi Fadzil said the decision was made after the Cabinet received a briefing from TH’s top management and reviewed the report, which examined the pilgrim fund board’s management, operations and asset-related matters between 2014 and 2020.
He said the report, which contains 25 recommendations aimed at improving TH’s governance and operations, would also be tabled and debated during a special sitting of the Dewan Rakyat in the near future.
“The Cabinet has taken note that TH’s top management has successfully implemented 75% of the recommendations outlined in the report,” he said in a statement.
Fahmi said the Cabinet also acknowledged TH’s announcement of a 3.5% profit distribution rate for the 2025 financial year, describing it as an indication that the institution’s management and financial position had improved.
However, he stressed that the government would ensure accountability, with enforcement agencies instructed to carry out a comprehensive investigation based on the RCI’s findings.
“The Cabinet has decided that comprehensive investigations by the enforcement agencies, based on this report, will continue immediately, and any parties found to have breached the law will be brought to justice,” he said.
The RCI was established in 2021 to investigate concerns surrounding TH’s management, operations and investments between 2014 and 2020, including issues relating to its financial position and governance.
The inquiry, chaired by former chief justice Tun Md Raus Sharif, also examined the transfer of underperforming assets to Urusharta Jamaah Sdn Bhd, a special-purpose vehicle established under a restructuring exercise to address concerns over TH’s financial health.
The RCI completed its report in July 2022, but its release was delayed amid concerns that publication could undermine public confidence and trigger uncertainty among TH depositors.
Last week, Prime Minister Datuk Seri Anwar Ibrahim said the government had initially decided against releasing the report immediately to prevent panic among depositors, as large-scale withdrawals could have affected TH’s stability during its recovery process.
He said the situation had since changed, with TH now in a stronger position following reforms and improved management.
The controversy surrounding TH emerged after a review following the 2018 general election found that the institution recorded assets of RM70.3 billion against liabilities of RM74.4 billion as at Dec 31, 2017, raising concerns over its financial position.
As part of efforts to strengthen TH’s financial standing, the government approved the transfer of underperforming assets to Urusharta Jamaah, a special-purpose vehicle wholly owned by the Minister of Finance (Incorporated), under a restructuring plan.
