- The 252-page royal commission of inquiry (RCI) report on the investigation into TH’s management and operations from 2014 to 2020 was declassified and released last Wednesday.
- The RCI found that TH had concealed the true state of its finances, reporting a RM3.4 billion profit for 2017 when it should have recorded a RM1.4 billion net loss – a shortfall of almost RM4.8 billion.
- On Tuesday, Khairy said Umno would show that the party was changing for the better if it admitted to these weaknesses and failures.
- Mujahid Yusof Rawa hit back at Umno Youth chief Dr Akmal Saleh’s question over who allegedly looted Tabung Haji, saying the RCI report had already identified cases warranting action.
- Analyst Syaza Shukri of International Islamic University Malaysia said Umno would likely disregard its former youth chief’s suggestion as his personal view because Khairy was no longer seen as representing the grassroots.
- Analyst Ahmad Zaharuddin Sani Ahmad Sabri of Global Asia Consulting said Khairy’s call was more than just criticism – it was an implicit admission that the political culture entrenched within the country’s economic institutions has long been a liability for Malaysia.
- Mujahid criticized the framing of the issue, stating: “You cheat Muslims of their money, but you don’t call that looting. You falsify the accounts of Muslims, but you don’t call that looting.”
- Syaza said the best thing for Umno to do is to follow Khairy’s suggestion – to be honest about the governance failures that plagued the pilgrims’ fund (TH).
- However, Syaza said Umno would likely point out that it was not the sole party responsible for any mismanagement of TH, or that the fund was only plagued by issues between 2014 and 2017.
- Zaharuddin questioned why billion-ringgit financial institutions and GLCs remained vehicles for political appointments, calling it a bipartisan disease that has taken root over the past few decades.
Mujahid Yusof Rawa has countered Umno Youth chief Dr Akmal Saleh’s inquiry about who 'looted' Tabung Haji, asserting that the royal commission of inquiry (RCI) report has pinpointed specific cases needing action. The RCI revealed that Tabung Haji concealed its financial state, reporting a RM3.4 billion profit in 2017 when it should have shown a RM1.4 billion net loss, indicating a shortfall of nearly RM4.8 billion under proper accounting standards.248
Despite Khairy's call for Umno to acknowledge its governance failures, analysts like Syaza Shukri from the International Islamic University Malaysia believe the party will likely dismiss these suggestions as personal opinions rather than grassroots sentiment. Shukri emphasized that Umno's best course of action would be to confront its shortcomings regarding the management of the pilgrims' fund.3567910
Ahmad Zaharuddin Sani Ahmad Sabri from Global Asia Consulting noted that Khairy's remarks reflect a broader issue within Malaysia's political culture, which has historically been detrimental to economic institutions. He questioned why significant financial entities continue to be influenced by political appointments, suggesting that this is a systemic issue transcending Umno.1112
The RCI's findings, released last Wednesday, have intensified scrutiny on Umno's past management of Tabung Haji, raising questions about accountability and governance in Malaysian politics.
“The RCI report found TH concealed its finances, reporting a RM3.4 billion profit for 2017 instead of a RM1.4 billion net loss, a shortfall of almost RM4.8 billion. Analyst Syaza Shukri said Umno would likely dismiss Khairy's suggestion as his personal view, while Zaharuddin called the political appointments in GLCs a 'bipartisan disease.'”
Malaysiakini
