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A Royal Commission of Inquiry has warned that the government's RM88 billion guarantee to Tabung Haji depositors will be triggered if the pilgrimage board's recovery plan fails, risking Malaysia's fiscal stability and investor confidence.
A Royal Commission of Inquiry has determined that Tabung Haji's 2017 financial statements significantly misrepresented the institution's position, concealing a RM1.4 billion loss beneath a reported RM3.4 billion profit through improper accounting practices.
Malaysia's Cabinet has approved the public release of a Royal Commission of Inquiry report examining Tabung Haji's financial crisis from 2014 to 2020, after the pilgrims' fund recovered from a RM10.9 billion deficit through a government bailout and restructuring.
A 25-year-old part-time Grab driver is being charged in court for allegedly staging his own kidnapping and demanding RM30,000 in ransom from his parents to cover mounting loan shark debts.