KUALA LUMPUR, Feb 12 — The distribution of profit after zakat for financial year 2022 to be announced by Tabung Haji will depend on the investment strategy adopted by its fund managers throughout last year.
“This includes TH which was seen as conservative in 2022 , as it felt it was better to safeguard capital and make a small profit than trying to maximise profit but would be exposed to capital risk which may be lost,” he said to Bernama. Among the sukuk holders that would be affected by this move are institutional investors such as EPF and TH, and it would also impact the EPF members, besides TH depositors.
The difference is that the actual cost paid by Malaysian pilgrims is partly covered by TH through subsidy or the Haj Financial Assistance. Nevertheless, the profits are also distributed to TH’s depositors apart from assisting in covering for the hajj cost which is increasing.