What was the total asset-liability deficit of Tabung Haji by end 2018?

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Tabung Haji's Asset-Liability Deficit Reached RM10 Billion by End 2018

By the end of 2018, Lembaga Tabung Haji (TH) faced an asset-liability deficit of approximately RM10 billion. This significant shortfall contributed to the institution's financial difficulties, necessitating government intervention to prevent a wider crisis.
Warnings from Bank Negara Malaysia Ignored

Bank Negara Malaysia (BNM) issued a series of five warning letters to TH between August 2014 and September 2016, highlighting concerns regarding the institution's financial position, reserve levels, and liquidity management. These warnings were directed at the TH Chairman and the responsible Minister at the time.
Deteriorating Financial Position

Despite these repeated alerts from BNM, the records indicate that the actions taken by TH from 2014 onwards did not demonstrate serious attention to the issues raised. Consequently, TH's financial standing continued to decline over this period.
Impact on Financial Health

The failure to address BNM's warnings contributed to the widening asset-liability deficit. This situation also involved the declaration of dividends when TH's assets were less than its liabilities, which was contrary to Section 22 of the Tabung Haji Act. Furthermore, the practice of distributing unprudent hibah continued until 2017, irrespective of the actual financial performance.

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What was the total asset-liability deficit of Tabung Haji by end 2018?

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