In today's Business News in The Star newspapers, it seems that Tabung Haji will bring back their foreign investments to invest in the local property investments. With moves like this, the local market will soon receive a boost and many local property companies will benefit from it. The question is which few companies will benefit from the investments of Tabung Haji. Of course if we know the answers now then it would make our investments much easier.
So who do you think will be the lucky one to receive the financial push to their companies? We will soon know about it.
The article extracted from The Star as below or you can click here for the full article.
Tabing Haji to bring back RM1bil from overseas
KUALA LUMPUR: As part of efforts to boost the nation’s economy, Lembaga Tabung Haji (TH) expects to bring back to the country RM1bil from its foreign property investments besides allocating about RM3.5bil for local property investments.
“As an Islamic institution and catalyst for the national economy, TH is responding to the Prime Minister’s call to enhance the stability of the financial market via existing and new initiatives to enable TH to actively participate in domestic investments with high multiplier effect,” the statutory body said in a statement.
TH said existing inititives include the RM200mil RIA Fund launched on April 2 to spur bumiputra small and medium enterprises’ (SMEs) development, for which loans worth RM60.5mil have been approved as of July 31.
TH will also invest in integrated livestock rearing to reduce the nation’s imports, and has approved allocations to enable it to take in 700 people under the 1Malaysia Training Programme.
Prime Minister Datuk Seri Najib Tun Razak yesterday announced proactive measures to boost the economy, including encouraging government-linked companies as well as private firms to repatriate their profits back and invest in high-multiplier local projects. — Bernama
