Tabung Haji lost RM145.3m from Putrajaya Perdana investment linked to 1MDB, Dewan Rakyat told

On August 11, the Dewan Rakyat was informed that the Tabung Haji (TH) suffered a RM145.3 million loss due to its investment in a Putrajaya Perdana entity, which was linked to the troubled 1Malaysia Development Bhd (1MDB) investment vehicle. TH Minister in the Prime Minister's Department (Religious Affairs) Zulkifli Hasan revealed that this loss was one of 14 problematic investments identified in the Royal Commission of Inquiry (RCI) report on TH's management and administration.

TH had invested in Putrajaya Perdana and appointed its former chairman as its chairman, which later got entangled in 1MDB transactions. Consequently, TH incurred a significant financial loss of RM145.3 million. The RCI has identified a total of 14 problematic investments with losses running into billions of ringgit, including Putrajaya Perdana, Al-Rawda, PT TH Indo Plantations (THIP), Trurich, and FGV.

These investments were approved by the minister between 2010 and 2017 following endorsement and recommendation by TH's board of directors. Zulkifli also questioned the 1MDB land purchase by TH when the scandal was at its peak, with the chief executive officer at the time also being a member of the 1MDB board of directors. The RCI report raised concerns over TH's investment decisions and the pressure to maintain high dividend payouts, which led TH to take high-risk investments resulting in considerable losses.

The ongoing special Dewan Rakyat sitting was convened to discuss the RCI findings and recommendations.