Fast, factual wire coverage from across Malaysia and the region.
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The Malaysian Anti-Corruption Commission has arrested the former chief executive and chief financial officer of Tabung Haji following a Royal Commission of Inquiry investigation into alleged abuse of authority in purchasing shares worth RM370 million from two plantation companies.
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.
Malaysia's Cabinet has approved declassifying the Royal Commission of Inquiry report on Tabung Haji and extending its scope to assess recovery measures under new management, addressing concerns over depositor confidence.
Parliament has passed legislation closing a regulatory gap in KWAN that allowed a RM5 billion withdrawal in 2021. Future withdrawals now require explicit Dewan Rakyat approval, strengthening parliamentary oversight of the sovereign fund.
Malaysia's Parliamentary Public Accounts Committee has not yet determined whether to launch a formal inquiry into the alleged RM200 million fraud involving state pension fund KWAP and Indonesian aquaculture firm eFishery.
Malaysia's parliament has endorsed a motion to channel RM14.5 billion in remaining proceeds from Malaysian Government Investment Issues to the Development Fund, addressing fiscal deficit financing and infrastructure investment.