Contributions depositors untouched - Chairman of TH

Azeez answered questions at a press conference at Menara TH here today. - Photo by Mohd Yusni Ariffin

KUALA LUMPUR: TH (TH) guarantees depositors' money will not be affected or lost with the purchase of a plot of land at the Tun Razak Exchange (TRX) of 1MDB, before.

Accordingly, the chairman Datuk Abdul Azeez Rahim ask all depositors not to worry about political provocation that has spread widely in social media.

"I hope my aunt and uncle in the village do not worry, we do not take direct depositors' money to buy land 1MDB it.

"If you do not believe can update their accounts whether we (TH) have used their money. Savings are guaranteed even RM1, the TH and government guarantees to depositors," he told reporters here

Azeez explains, only 15 percent of TH asset allocation will be used for real estate investments.

He said that this investment is necessary to ensure TH able to give dividends to depositors every year in addition to providing subsidies to the pilgrims.

"About 15 to 20 percent (about RM11 billion) is allocated for property investment TH. Now TH only invest 10 per cent (RM5.6 billion) from the provision of investment," he said.

Azeez said, every year, TH was also able to generate a good income and benefits, the most important will be used for subsidies and the management of Hajj, then TH will distribute profits through an annual bonus grants.

He said that over the past 10 years also, TH has paid an average rate of return in excess of six per cent.

In 2013, TH pay a dividend of 8 per cent, while in 2014 the number increased to 25.8 percent.