Tabung Haji incurred RM933 million in paper loss through FGV, says Rafizi

Lembaga Tabung Haji has lost on paper RM933 million through investments in Felda Global Ventures Holdings Bhd (FGV) but still retained shares in the listed plantation company despite revenue decline, PKR's Rafizi Ramli said today. Rafizi said Tabung Haji's decision not to dispose of the shares pointed to political interference, since FGV was Prime Minister Datuk Seri Najib Razak's brainchild. This suggested that the fund's priority was not to protect the interest of its depositors, but the government, he said "Tabung Haji's decision not to take any action to protect depositors' funds even as its investment in FGV was incurring losses is not the normal professional conduct of an international investment institution," he told a press conference in Sungai Besi. – February 16, 2016. MORE TO COME]]>