{
  "id": 616250,
  "title": "Tabung Haji’s losses weren’t due to market slump, its stocks fell much harder, says Amir Hamzah",
  "url": "https://urgent.news/2026/08/12/tabung-hajis-losses-werent-due-to-market-slump-its-stocks-fell-much",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-12T00:59:20.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/malaysia/2026/08/12/tabung-hajis-losses-werent-due-to-market-slump-its-stocks-fell-much-harder-says-amir-hamzah/231000"
  },
  "original_language": "en",
  "account": "Tabung Haji's financial losses are not attributable to a market slump, as its stocks declined more sharply than the overall market, according to Finance Minister II Datuk Seri Amir Hamzah Azizan. The stock market reached its highest level in 2018, while Tabung Haji's decline was approximately 6 percent that year. Hamzah emphasized that management changes and a restructured board of directors have bolstered controls and improved governance at the institution. Despite writing down RM2.6 billion on its remaining holdings after 2018, Tabung Haji has continued to pay \"hibah,\" with the amount increasing each year. The recommendation by the RCI for hibah declarations to be made only after financial statements have been audited, rather than on a pro forma basis, has addressed concerns over previous issues, according to Hamzah.",
  "summary": "KUALA LUMPUR, Aug 12 — Claims that Tabung Haji (TH) suffered losses due to a stock market downturn are baseless, a...",
  "key_points": [
    "Tabung Haji's losses not due to market slump",
    "Stocks fell harder than overall market",
    "Management changes and restructured board improved controls"
  ],
  "editors_take": "Management changes and a restructured board at Tabung Haji have led to bolstered controls and improved governance, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Malay Mail",
        "title": "Tabung Haji’s losses weren’t due to market slump, its stocks fell much harder, says Amir Hamzah",
        "url": "https://urgent.news/2026/08/12/tabung-hajis-losses-werent-due-to-market-slump-its-stocks-fell-much-622275",
        "published": "2026-08-12T00:59:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}