Sab, Apr

Tabung Harapan Malaysia to stop collection on Dec 31


PUTRAJAYA: The Cabinet has agreed to close the Tabung Harapan Malaysia (THM) account on Dec 31, seven months after it was formed on May 30.

Finance Minister Lim Guan Eng announced this today, saying that the Auditor-General’s Department would audit the account to ensure that the management of THM had been done in an orderly manner and with integrity.

“The ministry will also appoint an external audit firm to audit the THM account, which is in line with Section 7 of the Audit Act 1957.

“This is being done because Tabung Harapan Malaysia involved fund contributed by the people to help in paying the RM1 trillion debt following the 1MDB (1Malaysia Development Bhd) scandal and the government is committed to remain transparent for every sen received,” he said in a statement.

As of today (Oct 29), the Tabung Harapan Malaysia, Lim said, had collected RM196,322,746.30.

He also expressed the ministry’s appreciation to the Yang di-Pertuan Agong Sultan Muhammad V for the King’s contribution to the fund.

The minister said the THM depicted the people’s patriotism spirit to play their part in helping to pay the said debt resulting from financial scandals.

“Since THM was formed, various levels of the society have come together in a show of solidarity with the government to contribute and help in improving the country’s financial status,” Lim said.

He reiterated the government’s decision to reject an unnamed foreign firm’s RM100 million contribution to THM on the belief that it had ulterior motives, which displayed the current administration’s seriousness to protect the fund from any negative element.