Tabung Haji (TH) returns as high as 8.25%
reason for poor financial state of affairs
single depositor had > RM190mil
1.3% or 117,000 depositors contributed 50% of deposits.
dangers if “run” by this small group of depositors.
TH to set savings limit of RM200,000 for depositors
govt would only guarantee RM200,000 for every depositor
govt protection, high dividends attract high-networth individuals
for investment rather than for haj
Tabung Haji’s dividends 2013 - 2017 : 6.25% - 8.25%
Comparatively, fixed deposit about 3%
this attracted deposit growth of 10.6% between 2011 - 2017.
Due to high dividends TH pressured to seek high risk, high return ventures
40% of assets in listed companies exposed to fluctuation of financial market
end Oct, 30% of these investments dropped > 50% of initial investment
TH ill-equipped to become resilient asset management company
My comments :
I quite disagree. For over fourty years years Tabung Haji was functioning perfectly.
TH's main purpose was to mobilise the peoples' funds into savings first - with the sole intention of enabling the people to perform the pilgrimage to Mecca. Surplus deposits were invested in various money returning assets which were distributed back to the depositors as extra earnings. They performed this role superbly.
Then the "Muslims cannot tell lies" anak sundal took over power.
Pariah class tiga. The rest is deep shit.
The feudal mindset of the Malays prevented them from hanging the crooks from the lamp post. The worse slavery is the slavery of the mind.
Now the slaves are being told 'Hand over your land to me'.
There is no need to hang them from the lamp post.
But once in a while just threaten them lah.
"We will hang you from the lamp post".
Beranilah gempak sikit.
