TH records RM1.6b net profit after zakat for 2018

Lembaga Tabung Haji (TH) has announced a net profit after zakat of RM1.6 billion for the year 2018 after a two-year delay in submitting the annual report and financial statement for the year.

The decrease of RM1.8 billion or 53 percent from the previous year was due to hefty non-operating expenses on impairment, write-off and fair value adjustment and expected credit losses of TH’s assets amounting to RM1.5 billion compared to only RM140 million in 2017.