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RCI TH: Former TH Chairman, Ex-treasury Sec-gen On Remand For Seven Days

Kuala lumpur: A former Lembaga Tabung Haji (TH) chairman and a former Treasury Secretary-General have each been remanded for seven days to assist in investigations into findings contained in the Royal Commission of Inquiry (RCI) report on the institution. The remand order, effective today until September 2, was issued by Magistrate Ezrene Zakariah following an application by the Malaysian Anti-Corruption Commission (MACC) at the Magistrate's Court here today.

According to BERNAMA News Agency, the two suspects, both in their 60s, are being investigated under Section 23(1) of the MACC Act 2009, as stated by their respective lawyers. In addition, the court has also extended the remand order of a former TH chief executive officer by four days, until August 31. Earlier in the day, the three individuals arrived at the court complex at 9.31 am wearing orange MACC remand attire.

The RCI report on TH, which became publicly available on the official portal of the Department of Islamic Development Malaysia (JAKIM) on July 29, recommended that a forensic audit be conducted into the decision-making processes behind past investments that resulted in a significant decline in TH's asset values. The report, which examined TH's management and operational issues from 2014 to 2020, also identified problematic investments necessitating a forensic audit.

The RCI uncovered evidence of suspicious transactions and the concealment of information. The scope of the RCI investigation encompassed an examination of issues related to TH during the period from 2014 to 2020. The investigation referenced findings by the firms PricewaterhouseCoopers (PwC), Ernst and Young (EY), and Roland Berger, though it excluded the restructuring and recovery plan that was underway at the time.

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