An analyst believes Umno is unlikely to act on Khairy Jamaluddin’s call for the party to acknowledge its shortcomings in managing Tabung Haji (TH), arguing that his views no longer carry significant influence within the party.
Syaza Shukri of the International Islamic University Malaysia said Khairy’s remarks would probably be regarded as his personal opinion rather than a reflection of the views held by the party grassroots.
“The best thing for Umno to do is to follow what Khairy suggested, to be honest about the governance failures that plagued the pilgrims’ fund,” she said.
However, Syaza believes the party is more likely to argue that it was not solely responsible for any shortcomings in TH’s management, or that the problems were confined to the period between 2014 and 2017.
RCI report highlights financial shortcomings
The debate follows the release of the 252-page royal commission of inquiry (RCI) report into TH’s management and operations between 2014 and 2020, which was declassified and made public last Wednesday.
Among its findings, the RCI concluded that TH had concealed its actual financial position for several years. It stated that the fund reported a RM3.4 billion profit for 2017 when, under proper accounting standards, it should have recorded a RM1.4 billion net loss, representing a gap of almost RM4.8 billion.
On Tuesday, Khairy said Umno could demonstrate its commitment to reform by openly acknowledging the weaknesses and failures identified in the management of TH.
Governance concerns extend beyond Umno
Global Asia Consulting analyst Ahmad Zaharuddin Sani Ahmad Sabri said Khairy’s remarks went beyond criticism of Umno and reflected broader concerns over political involvement in the country’s economic institutions.
He described the comments as an implicit acknowledgement that entrenched political practices within major national institutions had become a long-standing liability for Malaysia.
Zaharuddin also questioned why billion-ringgit financial institutions and government-linked companies continued to be used as platforms for political appointments when the public ultimately bore the financial risks.
“This is no longer an Umno issue, but a bipartisan disease that has taken root over the past few decades,” he said.
