The announcement came in a written parliamentary reply on Thursday, answering a query from Datuk Ahmad Marzuk Shaary (PN-Pengkalan Chepa). MOF said it is committed to providing allocations for early sukuk redemption, subject to the government’s financial position.
Why Is MOF Putting RM1 Billion into Urusharta Jamaah in 2027?
The RM1 billion moves closer to the government’s initial plan to provide RM1.73 billion annually for early sukuk redemption. Datuk Ahmad Marzuk Shaary had asked for UJSB’s latest net asset value, total liabilities and accumulated losses.
He also asked whether UJSB could meet its sukuk obligations without further government support.
How Much Has UJSB Actually Received So Far?
According to chairman Datuk Mohd Shukri Hussin, UJSB has received only RM930 million over the past six years. That is far below the Cabinet approval for at least RM17.8 billion in April 2019, according to findings by the Royal Commission of Inquiry (RCI).
MOF said previous allocations could not be provided as planned because the government prioritised spending to address the Covid-19 pandemic.
What Did UJSB Pay for Tabung Haji’s Assets in 2018?
UJSB is wholly owned by Minister of Finance Incorporated. It was set up as the special-purpose vehicle to acquire TH’s underperforming assets in 2018.
UJSB paid RM19.9 billion in late 2018, a RM10.2 billion premium over their stated value of RM9.7 billion. In return, TH received RM300 million in cash and two sukuk tranches: Series 1 worth RM10 billion and Series 2 worth RM9.6 billion.
How Was the Series 1 Sukuk Redeemed?
The Series 1 sukuk matured on May 29 with a redemption value of about RM12.5 billion. UJSB did not redeem the full amount.
- RM11.5 billion refinanced through a 10-year Series 3 sukuk issued to TH, maturing May 2036
- RM965 million settled through a parcel of land in Tun Razak Exchange and a plantation in Sarawak
The Series 2 sukuk, worth RM9.6 billion, is due to mature in May 2029.
What Is Behind Urusharta Jamaah’s RM13.2 Billion Accumulated Losses?
UJSB recorded an operating profit of RM297 million for the financial year ended 2025, despite accumulated losses of RM13.2 billion. The losses mainly stem from the 2018 asset premium and accrued profit costs on sukuk issued to TH.
MOF said the losses should be distinguished from operating performance, noting UJSB has recorded operating profits since 2019. Assets under its management rose to RM11.61 billion at end-2025, from RM9.7 billion in 2018.
Plantation companies that returned to profitability were transferred back to TH at prices below their acquisition costs, MOF said.
Is UJSB a Bursa Stock to Monitor?
The announcement does not name a Bursa-listed counter tied to UJSB or Tabung Haji. UJSB’s ownership sits entirely with Minister of Finance Incorporated.
Worth monitoring is whether the RM1 billion arrives in 2027, since earlier allocations did not arrive as planned.
Key Takeaways
- MOF will allocate RM1 billion to UJSB in 2027 for early sukuk redemption and TH cash flow, subject to government finances.
- UJSB has received only RM930 million in six years, against Cabinet approval for at least RM17.8 billion.
- Accumulated losses stand at RM13.2 billion, while FY2025 operating profit was RM297 million.
- The RM11.5 billion Series 3 sukuk matures in May 2036, and the RM9.6 billion Series 2 sukuk in May 2029.
Disclaimer: This article is for general information only and is not investment advice. Figures come from The Edge Malaysia reporting. Always do your own research before making any financial decision.
Frequently Asked Questions
How much will the government give Urusharta Jamaah in 2027?
The Ministry of Finance will allocate RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) in 2027 for early sukuk redemption. The funds are also aimed at strengthening Lembaga Tabung Haji’s cash flow, subject to the government’s financial position.
Is Urusharta Jamaah listed on Bursa Malaysia?
The source article does not describe UJSB as a Bursa-listed company. It is wholly owned by Minister of Finance Incorporated, and no Bursa stock code is given in the announcement.
How much did Urusharta Jamaah pay for Tabung Haji’s assets?
UJSB paid RM19.9 billion for the underperforming assets in late 2018. That was a RM10.2 billion premium over their stated value of RM9.7 billion.
When does the Series 2 sukuk mature?
The Series 2 sukuk, worth RM9.6 billion, is due to mature in May 2029. The Series 3 sukuk, issued to Tabung Haji for RM11.5 billion, matures in May 2036.
Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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