Tun Daim's Invaluable Contributions To TH Recovery Will Forever Be Remembered - Mujahid

KUALA LUMPUR, Nov 14 (Bernama) -- The invaluable contributions of the late Tun Daim Zainuddin, particularly his instrumental role in the restructuring and recovery plan for Lembaga Tabung Haji (TH), will forever be remembered, said former Minister in the Prime Minister's Department (Religion) Datuk Seri Dr Mujahid Yusof Rawa.

Mujahid highlighted that the late Daim was appointed as the chairman of the Council of Eminent Persons (CEP), which was established on May 12, 2018. One of its key missions was to oversee the restructuring and recovery of TH, which was facing a deficit of RM4 billion at the time - a figure that had ballooned to RM10 billion by the end of 2018.

“Among the initial findings of the advisory council was the mismanagement within TH, including the purchase of questionable stocks and funds that led to significant financial losses. Issues related to poor governance and non-compliance with accounting standards were also identified,” said the Parti Amanah Negara (Amanah) deputy president in a statement today.

Mujahid, who is also a member of the Senate, shared that the committee appointed former Securities Commission executive chairman Tan Sri Mohammed Nor Md Yusof as the new TH chairman, while former BIMB Holdings Bhd CEO Datuk Seri Zukri Samat was appointed as the new CEO.

As the minister overseeing the religion portfolio at the time, Mujahid noted that the responsibility for executing the TH restructuring and recovery plan was entrusted to him.

“Tun Daim's invaluable contributions and services as the chairman of the Council of Eminent Persons (CEP), especially in overseeing the recovery of Lembaga Tabung Haji (TH), will forever be remembered. It was under his leadership that the restructuring framework for TH was initiated for the period 2018-2020. Alhamdulillah, TH is now on the right track to meet the challenges ahead,” said Mujahid.

Daim, whose full name is Che Abdul Daim Zainuddin, 86, passed away at 8.21 am yesterday while receiving treatment at a private hospital in Petaling Jaya. 

A seasoned statesman, Daim served as Malaysia's Finance Minister twice. His first tenure was from 1984 to 1991 under Dr Mahathir’s administration, during which he played a pivotal role in managing Malaysia’s economy and implementing structural reforms.

He returned to the role for a second term from 1999 to 2001, again under Dr. Mahathir, to address the economic challenges arising from the Asian financial crisis.

The CEP was established after the 14th General Election (GE14), and besides Daim, the other distinguished members included former Bank Negara governor Tan Sri Zeti Akhtar Aziz, former Petronas president and chief executive officer Tan Sri Mohd Hassan Marican, and prominent economist Prof Dr Jomo Kwame Sundaram.

-- BERNAMA