Tabung Haji still has RM3.5b to buy properties, says group MD

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/7/19/business/20120719155849&sec=business

Published: July 20, 2012

KUALA LUMPUR: Lembaga Tabung Haji (LTH), which is in the midst of finalising its first commercial property acquisition in London, still has the cash to make more acquisitions.

Its group managing director/chief executive officer, Datuk Ismee Ismail, said the pilgrims fund board has only used half of the RM7bil that it has allocated to acquire real estate in Malaysia and overseas.

In an interview with Bernama, he said the RM7bil fund accounted for 20% of the total fund managed by LTH, currently amounted to RM35bil.

"I think we are still under-invested. The investment in real estate has not touched RM7bil. Our focus firstly will be on properties in Malaysia, which we have started doing that for the past three years," he said.

Ismee said the remaining RM3.5 billion allocation may not be used up entirely this year even though there were many viable properties up for grabs. - Bernama