UJSB to receive RM1 billion in 2027 for early sukuk redemption
The company reported RM297 million in operating profit for 2025, although accumulated losses reached RM13.2 billion.
Urusharta Jamaah Sdn Bhd (UJSB) is to receive a RM1 billion allocation in 2027 to fund early redemption of sukuk, the Ministry of Finance (MOF) said. The funding is also intended to bolster cash flow at Lembaga Tabung Haji (TH).
Replying in writing to Datuk Ahmad Marzuk Shaary (PN-Pengkalan Chepa) in Parliament, MOF said funding for early redemptions would remain subject to the government’s financial position. Its original funding plan envisaged RM1.73 billion annually.
For the financial year ended 2025, UJSB’s operating profit was RM297 million, while its accumulated losses totalled RM13.2 billion, according to MOF. The ministry largely linked those losses to the premium on assets transferred from TH in 2018 and accrued profit costs associated with the sukuk issued to TH.
MOF said the losses did not reflect UJSB’s operating performance, which had remained profitable since 2019. It put the value of assets managed by UJSB at RM11.61 billion at end-2025, against RM9.7 billion in 2018.
Owned entirely by the Minister of Finance Incorporated, UJSB was tasked with taking over TH’s underperforming assets in 2018. The late-2018 purchase cost RM19.9 billion, including a RM10.2 billion premium above the assets’ stated value of RM9.7 billion.
The ministry said earlier allocations had not been delivered as planned because spending on the Covid-19 response took priority.
