Dr M: TH assets not useful, cannot give returns

Last updated on May 6th, 2021 at 08:16 am

KUALA LUMPUR – Muslim pilgrimage fund Lembaga Tabung Haji (TH) are not profitable, says Prime Minister Dr Mahathir Mohamad when he was asked to comment on the issue.

The transfer of four Lembaga Tabung Haji (TH) hotels to ministry of finance subsidiary Urusharta Jamaah Sdn Bhd (UJSB) is not generating sufficient money returns, and that the subsidiary should think of other ways to invest the funds.

The hotels are located in Kota Kinabalu, Penang, Alor Setar and Kuala Terengganu. According to reports, are not properly utilized.

In a statement released, TH said the decision to transfer the hotels under UJSB was part of the government’s re-organization plan for the struggling pilgrims fund. 

PM Mahathir also said that punishments for drug-related crimes are severe, and that the government should review the existing discipline.

Currently, drug trafficking and abuse are punished with the mandatory death penalty. Mahathir made it clear though that it is important for people to understand that drug abuse was harmful to people, the society and the entire country.

Desk Writer

Spends most of the time reading news all around the world. Strong knowledge and understanding of the current situation and happenings in the ASEAN region.

Recent Posts

Climate change and rising competition from Elon Musk’s Tesla causing Honda and Nissan to join hands?

Numerous auto giants across the globe are increasingly prioritising electric and hybrid vehicles as demand rises for less polluting models…

December 18, 2024

Japan’s “Kairos 2” Rocket Failed during its launch due to drive control faults?

Kairos 2, rocket is made by the Japanese Private Spacecraft manufacturer, Space One and it was launched on December 18,…

December 18, 2024

UAE Tops the World in 223 Global Competitiveness Indicators

Thanks to its clever management and forward thinking vision that prioritizes human development as the cornerstone and major objective of…

December 18, 2024

IMF Agreed to Upraise the Income Tax Threshold of Sri Lanka

On Wednesday, in the Sri Lankan Parliament President Anura Kumara Dissanayake has proudly announced the agreement which became firm after…

December 18, 2024

Kuanhong Arts Announces the Kick-off of “Jiang Hui’s 2025 Concert”

The ‘Queen’ and the ‘Second Sister’ Jiang Hui will comeback with a powerful solo concert which will be launched in…

December 18, 2024

India’s Wealth Titans Ambani and Adani Slip Below $100 Billion Mark

According to the Bloomberg Billionaires Index, Gautam Adani the founder of the Adani Group and Mukesh Ambani, the chairman of…

December 17, 2024

This website uses cookies.

Read More