UMNO Youth wants government, Tabung Haji to clarify TRX land transaction

In a statement released Friday, the movement expressed concern on the purchase of the land by Tabung Haji from the 1Malaysia Development Berhad (1MDB) valued at RM188.5 million. READ ALSO: Tabung Haji confirms buying TRX land, denies purchase of Signature Tower

"The purchase of the land was said to be an investment by Tabung Haji through a proper evaluation process at every stage.

"UMNO Youth does not deny the need for Tabung Haji to make an investment. Investments in the capital market (purchasing of shares) and the real estate sector must be carried out by Tabung Haji to generate returns that can be distributed to the Tabung Haji depositors in the form of dividends," the statement said.

However, it said, the issue that must be clarified is how the purchase transaction for the land was carried out.

Meanwhile, Jamaluddin Muhammad reports from MILAN, Italy that Tan Sri Muhyiddin Yassin has expressed support for the statement by the UMNO Youth in calling on the Finance Ministry and Tabung Haji to explain on the land purchase by Tabung Haji from 1Malaysia Development Berhad (1MDB).

The UMNO deputy president told the Malaysian media although the sale and purchase transaction was valid on the basis of a willing buyer-willing seller, Tabung Haji depositors perceived the transaction to be a burden they were carrying for 1MDB.