Fast, factual wire coverage from across Malaysia and the region.
Malaysia's government has injected over RM10 billion to rescue Tabung Haji from insolvency caused by mismanagement and embezzlement. The bailout aims to restore the Islamic financial institution's long-term sustainability rather than acquire its assets.
Tabung Haji incurred nearly RM13 billion in losses across 14 investments, with seven investments wiped out completely. The government bailout through UJSB covered RM10.2 billion of the damage.
Tabung Haji reports that its 2018 recovery plan has resolved RM12.6 billion in accumulated investment losses. The pilgrimage fund's profit distributions have rebounded to 3.50% for 2025 from a low of 1.25% in 2018, signalling financial stabilisation.