TH announces 3.1% profit distribution for 2023

KUALA LUMPUR: Lembaga Tabung Haji (TH) has announced a profit distribution of 3.10 after zakat (tithe) for the financial year 2023.

Minister in the Prime Minister's Department (Religious Affairs) Datuk Mohd Na'im Mokhtar, when announcing the matter, said the distribution of profits involved a sum of RM2.72 billion and would benefit more than 9.15 million TH depositors.

"TH has distributed profit distribution totalling RM42.88 billion since its establishment 60 years ago," he told a press conference here today.

Also present were TH chairman Tan Sri Abdul Rashid Hussain, Group managing director and TH chief executive officer Syed Hamadah Syed Othman, and TH Group executive director of finance Mustakim Mohamad.

Mohd Na'im said the profit for 2023 was announced based on the audited financial statements and after taking into account the impairment in the value of investment properties in Saudi Arabia and the United Kingdom.

He also announced that TH would pay RM101 million in zakat to all state Islamic religious councils on behalf of depositors for last year.

He said that the payment was adjusted based on the proportion of depositors' savings balances in each state.

"TH hopes that the zakat payments will help the government's efforts to eradicate hardcore poverty throughout the country," he said, adding that RM1.37 billion has been paid on behalf of depositors so far.

Mohd Na'im said that TH depositors can check the profit credited into their respective accounts from noon today, through the THiJARI platform, TH counters, Bank Islam and Bank Rakyat counters, as well as the electronic channels of TH's strategic partner banks, such as Bank Islam, Bank Rakyat, Maybank Islamic, CIMB Islamic, and AmBank Islamic.

Meanwhile, Syed Hamadah said that as a savings institution primarily dedicated to facilitating the haj pilgrimage, TH will prioritise responsible investment practices and adopt a diversified investment portfolio approach to ensure resilient, safe, and sustainable earnings potential.

"TH always strives to improve its services by implementing reforms to add value for the benefit of depositors," he said.

-- BERNAMA

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