Umno MPs turn tables, push for fresh probe into TH post-2018 restructuring

Tuesday 22 Sep 2026

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KUALA LUMPUR (Aug 11): Umno lawmakers, whose broader coalition Barisan Nasional (BN) led the federal government when the core accounting, governance and investment failures at Lembaga Tabung Haji (TH) occurred, sought on Tuesday to widen the scrutiny beyond the period covered by the Royal Commission of Inquiry (RCI).

While defending BN against claims that its political leaders — without naming anyone — had “plundered” the pilgrims’ fund, several of its MPs instead called for a fresh investigation into TH’s post-2018 restructuring and Urusharta Jamaah Sdn Bhd (UJSB), the government-owned vehicle established after BN lost federal power.

“Do not stop the audit halfway,” said Kinabatangan MP Datuk Mohd Kurniawan Naim Moktar who made the call for a fresh RCI to examine UJSB’s asset recovery, disposals, cash flow, management costs and sukuk restructuring. “The question is no longer only who was at fault before 2018. The question is what happened to the assets after 2018, who benefited from the recovered value and, ultimately, who bears the burden.”

Naim said the public deserved a full account of UJSB’s performance almost eight years after it was established. UJSB, a wholly owned subsidiary of Minister of Finance Inc, acquired 106 listed equity holdings, an unlisted plantation company and 29 properties from TH at the end of 2018.

The assets were transferred at RM19.9 billion, although their market value was approximately RM9.73 billion at the time. The difference of more than RM10 billion helped remove the shortfall from TH’s balance sheet. However, UJSB did not pay the RM19.9 billion entirely in cash. TH received RM300 million in cash while the remaining RM19.6 billion was settled through two zero-coupon sukuk subscribed by TH.

Ahead of the bailout, BN had led the federal government throughout the 2014-to-May 2018 period, when the RCI said TH’s financial difficulties intensified. Pakatan Harapan (PH) took office in May 2018 and approved the UJSB restructuring later that year. The RCI’s mandate covered TH’s management and operations between 2014 and 2020, spanning the final years of the BN administration, the first PH government and part of the subsequent Perikatan Nasional administration.

Eight of the 37 MPs who participated in Tuesday’s debate were from BN, the second-largest group after PH’s 14. Five were from Bersatu, three each from Gabungan Parti Sarawak and Gabungan Rakyat Sabah, two were independents and one each represented Warisan and Muda.

BN's MPs generally accepted during the debate on Tuesday that proven wrongdoing should be investigated and prosecuted but disputed attempts to present the report as evidence that BN political leaders had personally stolen depositors’ money.

Tenggara MP Manndzri Nasib, for one, challenged repeated political claims that billions of ringgit had been “stolen” from TH during BN’s administration.

“If billions of ringgit were robbed or plundered, why has no individual been brought to court for stealing depositors’ money?” he asked. “Where in the RCI report is there black-and-white evidence that a minister or political leader put depositors’ money into his own pocket?”

Manndzri defended the high hibah and haj financial assistance provided during the BN years, arguing that depositors had benefited from higher returns and lower payments for performing the haj. That, somehow, contra with the RCI findings that found that TH’s liabilities had exceeded its assets from 2014 and that high profit distributions continued to be paid despite the deterioration of its reserves.

Under Section 22 of the Tabung Haji Act 1995, profit may only be distributed when TH has distributable earnings and its assets exceed its liabilities.

Separately, Simpang Renggam MP Datuk Seri Hasni Mohammad, who was the first Umno's MPs to debate on Tuesday proposed a “declassification by default” policy for future royal commissions once their proceedings had concluded, except where continued secrecy was strictly required by law.

The RCI report was completed on Aug 30, 2022 and presented to the Cabinet in December that year but was only declassified on July 29, 2026 — three days before polling in the Negeri Sembilan state election.

Tampin MP Datuk Mohd Isam Mohd Isa and Kuala Pilah MP Datuk Adnan Abu Hassan, all from Umno as well, questioned whether the timing was politically motivated. The government previously said earlier disclosure could have undermined depositor confidence and risked destabilising TH.

Earlier, Hasni also called for regular public updates from enforcement agencies, independent forensic audits of the investments identified by the RCI and comprehensive amendments to the Tabung Haji Act.

“I want to emphasise that BN, particularly Umno, will not compromise with anyone involved in criminal breach of trust, abuse of power or mismanagement that has harmed Tabung Haji,” he said. “No one, regardless of position, political affiliation or former office, should be protected from the legal process.”

Edited ByPresenna Nambiar

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