Shares in FGV a strategic investment, says Tabung Haji
Tabung Haji assures depositors that their money has not vanished as alleged and their deposits are guaranteed.
Lembaga Tabung Haji (TH) today clarified that its shareholdings in Felda Global Ventures Holdings Bhd (FGV) are a long-term strategic investment in one of its priority sectors for investment.
Depositors need not worry as their money has not vanished as alleged and their deposits are guaranteed, TH said in a statement today.
The drastic fall in global palm oil prices has directly affected commodity-based companies and negatively affected plantation stocks, it said.
"The fall in global commodity prices is beyond our control as it is determined by existing market forces," it said.
In a statement yesterday, Pandan Member of Parliament Rafizi Ramli allleged that TH has lost RM933 million through its shares in FGV.
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