MINISTER in the Prime Minister’s Department Dr Mujahid Yusof Rawa has denied that the police reports lodged against former Tabung Haji executives and directors were for political payback.

Speaking at the Amanah national convention in Ipoh today, Mujahid said all parties must regard the incident as a lesson that must not be repeated.

“I am not sure if there will be more reports in the future but I hope if there are more, it is not revenge but a lesson for all of us and those involved must be brought to justice,” he said in Ipoh today.

Mujahid said this following a police report lodged by Trurich Resources Sdn Bhd (Trurich) against officials from Tabung Haji and its subsidiary for misrepresentation and withholding information that caused it to pay too much for oil palm plantations in Indonesia.

Tabung Haji has a 52% stake in Trurich, while the other owner is FGV holdings Bhd. The two are reported to have paid RM600 million in total for Trurich.

The Amanah vice president, however, refused to elaborate more on the matter saying that the police are now investigating the case.

“I do not know about the case. I am here the whole day. Trurich had a joint venture with Felda Global Ventures and I would like to affirm that we will not comment on any matter that is now with the police,” he said.

Trurich said in a statement yesterday it paid US$12.25 million (RM51.27 million) for Kaltara PTS, which owns 30,000ha of oil palm plantations in Indonesia, and US$45.77 million (RM191.59 million) to Kalteng PTS for 12,833ha of oil palm plantations and a 60-metric tonne palm oil mill.

The 2008 acquisitions were approved by Tabung Haji, by which Trurich was wholly owned at the time. 

Trurich said Tabung Haji had deliberately withheld information and made various representations that had caused it to overpay for these assets.

Trurich named in its police report then TH chief executive officer Ismee Ismail, then TH Plantation Bhd CEOs Zainal Azwar and Rashidi Omar, and two Indonesians Rajasa Abdurachman and Badai Sakti Daniel as being involved in the deals.

Tabung Haji recently underwent an audit after it was revealed that it had inflated its profit figures so as to justify paying dividends in the last five years at least.

Its former chairman Abdul Azeez Abdul Rahim has been accused of using more than RM20 million of Tabung Haji’s money to fund “political activities”. – December 15, 2018.