Tabung Haji to sell land bought from 1MDB at a profit?

KUALA LUMPUR - Najib Razak apparently has no intention of heeding critics’ demands to abort the controversial purchase of land by Tabung Haji from troubled 1Malaysia Development Bhd.

Instead, according to Tabung Haji chairman Abdul Azeez Abdul Rahim, the pilgrims’ fund board has been instructed to sell the 1.56-acre plot (only 80% the size of a football field) in the Tun Razak Exchange financial district purchased a month ago from 1MDB.

Abdul Azeez said at a press conference today that three offers had been received so far. The fund is expected to reap at least RM5 million in profits when the deal goes through.

Tabung Haji bought the land for RM188.5 million from 1MDB.

Abdul Azeez said board members had unanimously agreed on Friday night to hold on to the land deal. “However, because of the continuing slanders and the sensitivity of the rural Muslims who have their savings with Tabung Haji, it was decided to dispose of the land” and that the board would not make any profit if deal was just called off.

He said Najib had warned the board in a telephone call this morning about the implications of the “prolonged slander”.