| No | Question | Answer |
|---|---|---|
| 1. | Why is TH delaying the announcement of profit distribution for Financial Year 2022 ? |
TH is taking into account the recommendations and initial feedback of the Royal Commission of Inquiry (RCI) for the Profit Distribution to be announced based on TH's audited financial statements. Efforts are underway to ensure that the audit process for TH and TH Group's financial statements for Financial Year 2022 are completed early in the second quarter of 2023. |
| 2. | Does this mean that TH’s financial statements in previous years were not audited before the Profit Distribution announcement? |
In previous years, TH's Profit Distribution was announced based on its Financial Statement only. The Group Consolidated Financial Statement) will only be finalised when all the Financial Statements of the subsidiaries under TH Group have been audited. The practice of declaring Profit Distribution in previous years is in line with the practice of other Institutions such as retirement savings institutions and unit trust fund investment institutions. However, TH took note of the RCI's initial recommendations and endeavors to complete the audit for TH and the Group's Financial Statements early in the second quarter of the following year. |
| 3. | Will TH announce its profit distribution in the second quarter every year? |
The Profit Distribution will be announced based on the audited Financial Statement. Efforts will continue to be intensified to ensure that the Financial Statements of TH and the Group are audited within a reasonable period of time from the end of the financial year by carrying out interim audits and so on. |
| 4. |
Who is the appointed auditor by TH this year? |
TH as a federal statutory body is subjected to the Act 1980 , Statutory Bodies (Accounts and Financial Reports) under Act 240. This Act has stipulated that the Auditor General is responsible for auditing the Financial Statements of statutory bodies. The Auditor General can be assisted by external audit firms in the process of auditing the Financial Statements of statutory bodies. External audit firm Ernst & Young has been appointed to audit TH's financial statements this year. |
| 5. | Will the appointment of this external audit firm affect the Profit Distribution? |
TH’s Profit Distribution is based on Financial Statements audited by the National Audit Department and assisted by certified external audit firms such as Ernst & Young. This will increase the confidence of the depositors and other stakeholders because the external audit firms appointed by the National Audit Department are professional and independent private audit firms with extensive experience especially in areas of compliance with the Malaysian and international Financial Reporting Standards. The appointed external audit firm will ensure that the audit process is carried out transparently to increase confidence in the quality and reliability of TH's Financial Statement. |
| 6. | What is TH's projected Profit Distribution for Financial Year 2022 and subsequent years? |
TH's Profit Distribution is based on its performance and the institution’s financial ability in the current year and requirements of the Tabung Haji Act 1995. The performance of capital markets and hajj financial support will also affect TH’s financial ability and performance for a current year. TH is committed to provide a sustainable and a stable distribution of profits which is in line with the mandate of its establishment to manage the savings of Malaysian Muslims to perform Hajj. |
| 7. | When is the Profit Distribution announcement Financial Year 2022 and how can depositors check for updates on the announcement? |
The Profit Distribution for Financial Year 2022 will be announced early in the second quarter of 2023 through official TH platforms such as press conferences, press releases social media as well as TH’s website. Depositors can check their latest savings account balance at:
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