KUALA LUMPUR, 12 August 2021 – The PERKUKUH Pelaburan Rakyat initiative is expected to be a catalyst for the next-phase transformation of Malaysia’s Government-linked Investment Companies (GLICs), including Lembaga Tabung Haji (TH).

TH Group Managing Director and Chief Executive Officer Dato’ Sri Amrin Awaluddin said GLICs have been the cornerstone of Malaysia’s economic development over the last six decades but in an increasingly competitive global environment, it is imperative for them to take the next step.

“PERKUKUH is the opportunity for Malaysia in this crisis. No doubt the pandemic presents a significant challenge, but we have overcome multiple economic downturns and it is time for GLICs to spearhead a new phase of transformation to support economic growth,” Amrin said.

PERKUKUH is also an opportunity to reset and strengthen the governance and financial position of TH, he added.

As Malaysia’s sole Hajj services provider, TH has developed its expertise by assisting 1.5 million Malaysians to complete their pilgrimage in the Holy Land since 1963 and it is recognised globally for excellent hajj services. TH also has 58 years of experience and expertise in Shariah, encompassing its operations and investments.

The PERKUKUH Pelaburan Rakyat initiative was unveiled by Prime Minister YAB Tan Sri Dato’ Muhyiddin Yassin today and aims to, among others, sharpen the focus and clarity on the distinct mandates for sovereign wealth funds and institutional investors, including TH.

Under PERKUKUH, TH will undertake initiatives to enhance its governance and controls to protect TH and its depositors, improve operations and efficiency, and generate sustainable profits and returns to depositors to ensure its financial sustainability.

TH will provide further information on these initiatives at the appropriate time.

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TH PRESS RELEASE - PERKUKUH TO CATALYSE GLIC TRANSFORMATION (FINAL-12082021).pdf