KUALA LUMPUR, Aug 25 — The proposal to purchase land in Saudi Arabia will be carefully reviewed, considering market conditions, risks, and the financial capacity of Tabung Haji (TH), said Deputy Minister in the Prime Minister’s Department (Religious Affairs) Zulkifli Hasan.
He emphasised that any decision made by TH will consider all relevant factors to ensure it benefits all TH depositors.
“It’s too early to provide details, and there are no updates yet on amendments to property ownership laws,” he said.
He was responding to a question from Senator Hussin Ismail, who asked if TH planned to buy land near Masjid al-Haram to improve services for Malaysian haj pilgrims, during a question-and-answer session in the Dewan Negara.
Zulkifli added that TH has signed long-term agreements with various service providers in Saudi Arabia to maintain quality services and ensure the financial stability of TH.
“Through these agreements, TH has secured hotels within a 1km radius of Masjid al-Haram, enough to accommodate all Malaysian muassasah pilgrims.
He added that TH is open to reviewing proposals that can help control costs while making improvements that benefit pilgrims, all within TH’s financial capabilities.
In reply to a supplementary question about buying shares in existing hotels, Zulkifli said this would need thorough study to ensure the best decision.
He also said Malaysia has secured long-term contracts for seven buildings in Makkah and three in Madinah, all within a 1km radius, which are highly sought after by other countries.
“TH follows the best governance standards, with approval from the Finance Ministry and full compliance with all required protocols.
“Any claims that governance procedures haven’t been followed are false, and such misinformation needs to be corrected to fully support TH,” Zulkifli added.
