Tuesday, May 13, 2008

Tabung Haji To Invest

yes, Tabung Haji should invest and actively involved in (halal) Food Industry long time ago (1) for the benefits of all Muslims (particularly in Malaysia) (2) to increase share value and stakeholders' value.

imagine this, by investing RM2,000 in Tabung Haji today, this investor may perform Haj in 5-10 years time. Figure it out!

May 13, 2008 22:30 PM

Tabung Haji Expects New Investment Company To Be Up Within A Month
KUALA LUMPUR, May 13 (Bernama) - Lembaga Tabung Haji expects the setting up of a new investment company with two other partners to be finalised within a month.The new company will seek opportunities in halal-based investments, said its group managing director/chief executive officer, Datuk Ismee Ismail.Tabung Haji signed a memorandum of understanding with the Halal Industry Development Corporation (HDC) and Dubai Islamic Investment Group at the opening of the World Halal Forum 2008 Monday to form the company.The MoU was to lay down the principles and framework for the relationship between the parties to create the investment company.It will also set out the commercial principles to be applied in respect of the incorporation of a holding company that will be used as the basis for conducting the activities."I expect the paid-up capital of the company to be in the region of US$100 million. Tabung Haji will hold 25 percent in the company," Ismee told reporters here Tuesday.HDC and Dubai Islamic will hold 30 percent and 45 percent respectively in the investment company."The company will have its own management, investment fund, its own board of directors and CEO. The management will study specific syariah based companies from the food, cosmetics and pharmaceuticals industries."The operations will be all based here. But our investments may cover international companies," he said.-- BERNAMA

while we welcome the move (yes, this is sound decision, we have to recognise it) Tabung Haji should also carefully safeguard the interest of stakeholders. by pumping in US$25 million, it is our hope that Tabung Haji will generate more and more money from this investment, Insya Allah.

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