The rakyat's confidence in Tabung Haji set to return

By ZAIDI ISHAM ISMAIL
editor@dagangnews.com

KUALA LUMPUR Dec 22 - For the past several years, Lembaga Tabung Haji (TH) has been embroiled in numerous controversies.

These include depositors' eroding confidence in TH due to political interference and others.

However this could be a thing of the past with the appointment of  Tan Sri Azman Mokhtar as TH's new chairman effective Monday.

Azman's return into the limelight after a long hiatus is welcomed by many as he will bring a wealth of experience to the haj pilgrim managenet fund.

"Azman's arrival on board TH will be important as he is there to support the fund's management.

"It is a good thing that the government is institutionalising a former corporate captain as the new chairman.

Azman will help to strengthen trust and confidence in TH," a Tabung Haji source told DagangNews.com.

He added it is a good step to appoint a non-politician at the helm of TH which is used by some politicians as their political platforms.

Meanwhile a fund manager at the Employees Provident Fund said Azman brings a wealth of corporate experience to TH.

"Other than help steer the board in haj pilgrimage matters, Azman could also give tips on how to manage TH's business divisions.

TH has a stable of companies under its wings such as TH Plantations and TH Property which could be propelled further.

"Azman could share his corporate experience with the TH board on how to maximise earnings potential from these companies."

He added these companies are after all set up with the main purpose of generating a recurring income for TH and dividends to its stakeholders and depositors.

Azman could also help prevent a repeat of  "losing" one of its formerly owned firm TH Heavy Engineering Bhd which was delisted from Bursa Malaysia earlier this month and was taken over by the Finance Ministry.

"Azman's main priority is to lead TH out of the pandemic, regain the rakyat's trust and boost depositors' funds which currently stand at more than RM80 billion," said the fund manager.

The fund manager said Azman could also guide TH to rationalise its investments in the stock market.

These include pulling out its investments of from companies which are hit by COVID-19 and restrategise by parking its investments in high growth companies which will ride the pandemic in 2022.

Azman, was formerly managing director at Khazanah Nasional Bhd, IHH Healthcare, Iskandar Investment and Axiata Group Bhd. - DagangNews.com