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No News Is Bad News
Will the Cabinet tomorrow opt for transparency in the Tabung Haji (TH) Royal Commission Inquiry (RCI) Report?
Why cannot query TH’s financial losses? RM20b of taxpayers’ money used to bailout TH!
https://www.tiktok.com/@the.tiger.show/video/7527637896812039442?lang=en (Melayu miskin sebab malas? RAW EP07 CLIP03 Dr Muhammed A Khalid menyanggah mitos yang mengatakan orang-orang Melayu miskin disebabkan kemalasan. #thetigershow #thetigershowpodcast #podcastclips #podcastmalaysia #currentaffairs #fyp #fypシ゚viralシfypシ゚viralシalシ)
https://www.facebook.com/watch/?v=714665376699709 (Pakar ekonomi Dr Muhammed Abdul Khalid mengkritik dasar Malaysia yang tidak pernah membenarkan mana-mana pelarian termasuk dari)
KUALA LUMPUR, July 28, 2026: Malaysia’s 10th Prime Minister (PMX) Anwar Ibrahim and his Cabinet is scheduled to discuss and decide whether to make public the Tabung Haji (TH) Royal Commission Inquiry (RCI) Report.
And, there are racial and religious bigots who accuse non-Muslims of interfering with the financial affairs of TH.
These moronic bigots are unaware, or choose to be ignorant, that some RM20 billion of taxpayers’ money was used to bailout TH.
And, the majority of the taxpayers are non-Muslims/Malays! So, they have every right to query TH’s losses or they have to fork out more for the pencuri-pencuri (thieves) in the future.
Don’t take the word of non-Muslims/Malays for saying they have the right to query.
Institute of Malaysian and International Studies (IKMAS) Research Fellow Dr Muhammed Abdul Khalid said in a video (circulated on WhatsApp) the Chinese, Indian and Malay money (R20 billion) was was used to bailout TH.
“We did not take out zakat money to bailout TH. It is public (federal) money,” he added.
So, who saved TH from financial collapse?
And, the same goes to Felda's RM10 billion in losses:
For image info, go to https://www.freemalaysiatoday.com/category/nation/2026/07/27/felda-lost-nearly-rm10bil-due-to-mismanagement-political-meddling-says-anwar
View the above two video clips - one on why the Malays are not really/rightly lazy. It is because they have no incentive to improve due to the Government’s policy of providing clutches for them; and why the Government and majority of Malaysians are a bunch of hypocrites.
No News Is Bad News reproduces below a news report on why non-Muslims have the right to query TH’s financial losses and a profile of Dr Muhammed:
“Non-Muslims have right to query Tabung Haji as taxpayers fork out almost RM20b for its bail out”
SUCH maybe a sarcastic way to silent rightists or even ‘un-learned’ loyalists of political parties who ticked off non-Muslims for poking their noses in in the management of the premiere Islamic financial institution in Malaysia.
Constitutional Law & Civil Rights
This came about as former Bank Negara Malaysia (BNM) deputy governor Sukudhew (Sukhdave) Singh said he found it impossible to accept Prime Minister Datuk Seri Anwar Ibrahim’s ’s rationale that the Royal Commission of Inquiry (RCI) report on Tabung Haji was withheld out of fear of depositors losing faith in the institution.
“Protecting an institution’s reputation by concealing the truth is not leadership; it’s an excuse to not do anything,” Sukhdave who served in that capacity for over four years (April 16, 2013 to Dec 31, 2017) penned in a LinkedIn post.
Sukudhew (Sukhdave) Singh 3rd+
Former Deputy Governor, Central Bank of Malaysia | Former Independent Director, Khazanah Nasional Berhad
I find it impossible to accept the Prime Minister’s rationale that the Royal Commission of Inquiry (RCI) report on Tabung Haji was withheld out of fear that depositors would lose faith in the institution. Protecting an institution's reputation by concealing the truth is not leadership; it is an excuse to not do anything. What about the RM10 billion in depositors' funds that vanished? What about the millions of ordinary Malaysians who scraped together their hard-earned savings, ringgit by ringgit, for a sacred pilgrimage, only to have their trust betrayed? And most importantly: where is the accountability for those who plundered these funds? I have said it before, and I will say it again: Malaysia’s deepest crisis is the systemic erosion of governance. It persists because our leaders preach reform on the podium, yet lack the gumption to enforce it when accountability becomes uncomfortable. Citizens do not lose faith in an institution when malfeasance is exposed and the culprits are brought to justice. They lose faith when wrongdoing is swept under the carpet and we get political excuses. Enough with the tired routine of politicians allowing public funds to be plundered, only to quietly plug the hole with taxpayers' money. Taxpayers fulfill their obligations because the long arm of the law leaves them no choice. It seems far easier for the government to squeeze compliant taxpayers than to demand a true reckoning from those who pillaged the funds of Tabung Haji's contributors. When it comes to governance, there is no middle ground: either you are a genuine reformer, or you are a chameleon masquerading as one.
Islam
“And most importantly: where is the accountability for those who plundered these funds?
In an obvious pot shot at PMX who is also the Finance Minister, Sukhdave who spent 31 years in the central bank prior to relinquishing his position stressed that “there is no middle ground when it comes to governance: either you are a genuine reformer or you’re a chameleon masquerading as one”.
“Enough with the tired routine of politicians allowing public funds to be plundered, only to quietly plug the hole with taxpayers’ money,” he asserted.
“Taxpayers fulfill their obligations because the long arm of the law leaves them no choice. It seems far easier for the government to squeeze compliant taxpayers than to demand a true reckoning from those who pillaged the funds of Tabung Haji’s contributors.”
Government
‘Rapid turn-around’
Finance
Taking Sukhdave’s constructive criticism a step further, it should be made clear that every Malaysian citizen in regardless of their creed and cultural background have the legal right to comment on the hajj pilgrims fund as freedom of speech protects public discussion on government-linked institutions.
However, a line needs to be drawn in that their queries should centre on Tabung Haji’s governance, transparency, corporate decisions or financial health matters.
On the contrary, non-Muslims citizens should at best not interfere with the internal religious rituals, fatwa or theological obligations tied directly to the performance of the Hajj pilgrimage.
Re-capping the contribution of taxpayers in rescuing the ailing hajj fund, it has to be stressed that the government special-purpose vehicle Urusharta Jamaah Sdn Bhd acquired Tabung Haji’s underperforming and problematic assets at a total value of RM19.9 bil despite those assets having a degraded market value of RM9.63 bil at the time.
Banking
The RM10.3 bil gap between what those assets were worth and what the government paid for them was absorbed by taxpayers to patch the pilgrimage fund’s balance sheet back to solvency.
Following the appointment of new chairman Tan Sri Abdul Rashid Hussain who was appointed to the role on Dec 20, 2023, Tabing Haji is on the verge of turning around with talks underway to buy back the RM19.9 bil in assets parked at Urusharta Jamaah.
Religion & Belief
As the 80-year-old who ‘created ‘RHB Bank in 1997 following the merger of Kwong Yik Bank and D&C Bank (Development and Commercial Bank) told The Edge Weekly in a recent interview:
I’ve done it, cleaned it up, have written everything off, whatever needed to be gotten rid of. And I think, in the last two years, we’ve demonstrated in our results that we’ve turned around from a balance sheet point of view. And we have turned [out] to be profitable.
And with profit, the first thing is to pay out a dividend. And we have done that in two stages. From 3%, we jumped up to 3.25%, and last year, we did 3.5%.
All in all, Tabung Haji’s deposits have grown from RM70 bil in 2019 to RM93.4 bil in 2025 and about RM95.3 bil as at mid-2026. The numbers suggest that the confidence level in the institution has improved.
Religious Travel
In end-May, Tabung Haji won the prestigious Labaytum Diamond Award for world-class Hajj management, marking its fifth consecutive win overall and its second straight highest-tier Diamond distinction for the 1447H/2026 season from the Saudi Hajj and Umrah Ministry. – July 27, 2026
Profile : Dr Muhammed Abdul Khalid
Dr. Muhammed bin Abdul Khalid (“Dr Muhammed”) is currently a Research Fellow at the Institute of Malaysian and International Studies (IKMAS), Universiti Kebangsaan Malaysia, and Adjunct Professor at the Center for Policy Research and International Studies(CenPRIS), University Sains Malaysia.
He is also the chairman of Allianz General Insurance Malaysia Berhad, Member of the Board of Trustees of the Malaysian Institute of Economic Research (MIER), and Member of the Honorary Council of Advisors at the
European-Malaysian Chamber of Commerce. He had also served as Member of the Board at Malaysia Investment Development Agency (MIDA).
Previously, he is the Economic Adviser to the former Prime Minister, and Member of the Economic Action Council chaired by the Prime Minister from 2018 to 2020.
Dr. Muhammed has served as consultant to the World Bank, United Nations Development Program (“UNDP”), United Nations Children’s Fund (“UNICEF”), United Nations Population
Fund (“UNFPA”), United Nations Economic and Social Commission for Asia and the Pacific (“UNESCAP”), United Nations High Commission for Refugees (UNHCR), and United
Nations Population Fund (UNFPA).
He has worked at Khazanah Research Institute, Securities Commission Malaysia, and the Institute of Strategic and International Studies (ISIS) Malaysia. He was also a Senior
Technical Advisor at the United Nations Development Program (UNDP) Malaysia.
He obtained his PhD from the Institut d’études Politiques de Paris (Sciences-Po Paris),
France, and a Master of Economics from University of Malaya, and a BSc from University of Southern California, Los Angeles, USA.
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