PM's economic adviser draws parallels between Tabung Haji, FGV issues

The economic adviser highlighted findings from the Tabung Haji Royal Commission of Inquiry, noting that the issues affecting the pilgrims' fund mirrored problems that had plagued FGV Holdings Bhd, a unit under the Federal Land Development Authority (Felda). The comparison suggests systemic weaknesses in institutional management and oversight that have affected multiple government-linked entities. The Royal Commission of Inquiry into Tabung Haji has been examining governance lapses and operational failures at the Islamic pilgrimage fund, which manages savings for Malaysian citizens undertaking the hajj pilgrimage. The fund has faced significant challenges in recent years, including investment losses and concerns over management practices. By drawing parallels with FGV's previous difficulties, the economic adviser underscored the importance of implementing stronger institutional safeguards and accountability mechanisms across government-linked organizations. The remarks come as Malaysia continues efforts to strengthen oversight of major funds and investment vehicles managing public resources.