KUALA LUMPUR - Tabung Haji, in a move to secure recurring and sustainable returns, plans to invest in infrastructure and concession businesses locally and overseas.
Its group managing director and chief executive officer (CEO) Datuk Johan Abdullah said given the expected large initial investment, Tabung Haji hoped to collaborate with other government-linked investment companies (GLICs) in these ventures.
The new focus is one of the changes Johan is undertaking since taking over the helm of Tabung Haji on July 1.
Tabung Haji, the only Islamic investment company and pilgrims fund of its kind in the world, currently has a fund size of RM64.7 billion.
“We have to tweak our investment approach to make it more sustainable, whereby we can have recurring income every year and don’t have to wait for corporate exercises.
“Concessions will provide a steady cash flow. No big deal in the initial years, very huge amount of capital outlay, but it is quite steady,” said Johan in an exclusive interview with the Media Prima group recently.
Johan, who described leading the pilgrims fund as a blessing and huge responsibility, said from an investment perspective, the keywords he had been