Tabung Haji scrutinises investment in Indonesia

KUALA LUMPUR: Lembaga Tabung Haji is zooming in on its investment in the 52% stake held in Trurich Resources Sdn Bhd, which owns some 42,000ha of oil palm plantations in Indonesia.

Tabung Haji and FGV Holdings Bhd jointly bought Trurich for RM600 million in 2009 and assumed debts of over RM700 million, sources say. It is unclear from whom they bought Trurich. The plantation group had been making losses for at least the last five years to 2016, based on data from RAM Credit Information Sdn Bhd.