What is the maturity date of the sukuk replacing the original RM12.5 billion commitment?

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The Sukuk Replacing the Original RM12.5 Billion Commitment Matures in 2036

The Sukuk UJSB Series 1, originally part of a RM12.5 billion financial commitment to Lembaga Tabung Haji, matured on May 29, 2026. While RM965 million of this commitment was settled with property assets, the remaining RM11.5 billion was restructured. This substantial portion has been replaced by a new sukuk instrument that is set to mature in 2036, extending the repayment timeline.
Restructuring of Tabung Haji's Financial Commitments

The financial restructuring of Tabung Haji, approved in late 2018, involved Urusan Jamaah Sdn Bhd (UJSB), a company wholly owned by the federal government, taking over certain loss-making assets from Tabung Haji. These assets were acquired at values exceeding their actual worth. In exchange for these assets, UJSB issued two series of sukuk to Tabung Haji. The federal government was then obligated to redeem these sukuk instruments upon their respective maturities in 2026 and 2029.
Partial Settlement and Extended Maturity

Of the initial RM12.5 billion commitment, only RM965 million has been settled through the transfer of property assets. These assets include a parcel of land located at the Tun Razak Exchange (TRX) and plantation land situated in Sarawak. The significant remaining balance of RM11.5 billion has been reconfigured into a new sukuk. This replacement sukuk is now scheduled to mature in the year 2036, indicating a prolonged period before the full financial obligation is discharged.
Government's Obligation for Redemption

The fundamental expectation is that the government should fulfil its commitment to fully redeem the RM12.5 billion owed to Tabung Haji. This redemption is to be executed either through direct cash payments or by providing equivalent assets that match the recovered value. The initial arrangement was designed as a temporary measure to restore Tabung Haji's reserves and enable continued dividend payments to depositors.

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What is the maturity date of the sukuk replacing the original RM12.5 billion commitment?

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