What was the total value of property assets used to settle the debt?

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The total value of property assets used to settle the debt was RM965 million.

A total of RM965 million in property assets has been used to partially settle the government's RM12.5 billion financial commitment to Lembaga Tabung Haji. These assets include a plot of land located at the Tun Razak Exchange (TRX) and plantation land situated in Sarawak. The remaining RM11.5 billion of the original commitment was replaced with a new sukuk instrument that is set to mature in 2036.
Property Assets Transferred

The specific property assets that have been transferred to Tabung Haji to date comprise land at the Tun Razak Exchange (TRX) and plantation land in Sarawak. These assets represent the government's partial fulfillment of its obligation to redeem the Sukuk Urusan Jamaah Sdn Bhd (UJSB) Series 1, which matured on May 29, 2026.
Original Commitment and Restructuring

The government's financial commitment to Tabung Haji originally stood at RM12.5 billion, related to the maturity of the Sukuk UJSB. The financial restructuring of Tabung Haji, approved in late 2018, involved Urusan Jamaah Sdn Bhd (UJSB), a wholly owned government company, taking over certain loss-making Tabung Haji assets. In return, UJSB issued sukuk to Tabung Haji, with the government obligated to redeem these instruments upon maturity.
Sukuk Maturity and Redemption

The Sukuk UJSB Series 1 instrument matured in May 2026, requiring the government to settle its RM12.5 billion commitment. While RM965 million was settled using property assets, the remaining RM11.5 billion was addressed by issuing a new sukuk, which matures in 2036. This arrangement has been a subject of discussion regarding the government's ongoing financial obligations to Tabung Haji.

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What was the total value of property assets used to settle the debt?

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