Nabil Luqman

0f9d2dd4f71434084e2b6094de1865e23abb37bb9f28ca51feeabee679ec9be2

Social

Axiata Arena

sports

events

contract

Telekom Malaysia

Stadium Bukit Jalil

rebranding

new names

Malaysia&rsquo;s two flagship sports and entertainment venues have officially received new identities following a strategic naming rights partnership between Perbadanan Stadium Malaysia (PSM) and Telekom Malaysia Berhad (TM). Effective 6 March 2026, Bukit Jalil National Stadium is now known as TM Stadium Nasional, while Putra Indoor Stadium, previously branded as Axiata Arena since 2017, has been renamed Unifi Arena.
The collaboration, which spans an initial three years, represents the first renaming of Bukit Jalil National Stadium since its opening in 1998. Meanwhile, the Putra Indoor Stadium had carried the Axiata Arena title for nearly a decade under a previous 10-year partnership with Axiata Group.
Supporting Long-Term Sustainability and Development
&nbsp;<img src="https://r2.myc.my/808bac81fff91c5d3d22a515d48dfb49b296e327e87f53abad1b6ac706ee7072" />
PSM Chief Executive Officer, Iliyas Jamil, said the naming rights partnership is a key initiative to ensure the sustainability and long-term growth of the stadiums. &ldquo;These venues are more than just event locations; they are spaces where historic moments are made and where Malaysians unite as one,&rdquo; he explained. &ldquo;Revenue from this collaboration will be invested in upgrading facilities, enhancing visitor comfort, and maintaining the stadiums&rsquo; international standards for sports and entertainment events.&rdquo;
Iliyas added that the rebranding aligns with broader plans to modernise the facilities and keep them competitive for hosting major international tournaments, concerts, and cultural events. &ldquo;As caretakers of these iconic stadiums, we are committed to ensuring they remain at the highest standard for all Malaysians,&rdquo; he said.
TM&rsquo;s Commitment to National Sports and Community
<img src="https://r2.myc.my/bc560801178218238642fbe685c76434015d166a50094020cd798906671cca8f" />
TM Group Chief Executive Officer, Amar Huzaimi Md Deris, highlighted the symbolic and practical significance of the naming rights deal. &ldquo;The National Stadium and Putra Indoor Stadium have long been gathering points for Malaysians to celebrate achievements, witness historic moments, and foster a sense of community,&rdquo; he said. &ldquo;Through this partnership, we aim to strengthen these venues so they continue to unite communities and inspire national pride for generations to come.&rdquo;
Beyond the naming rights, TM has a longstanding track record of supporting Malaysian sports. The company recently partnered with the Malaysian Sepaktakraw Association to back national teams at major tournaments, including the 2025 Asia Cup in Kuala Lumpur, the 2025 SEA Games in Bangkok, and the 2026 ISTAF World Cup.
Amar Huzaimi emphasised that such initiatives reflect TM&rsquo;s ongoing commitment to developing local sports, nurturing talent, and contributing to the national sports ecosystem. &ldquo;Sepaktakraw is a sport deeply rooted in our culture, and we are proud to play a role in its growth locally and internationally,&rdquo; he said.
Enhancing Visitor Experience and Global Competitiveness
<img src="https://r2.myc.my/2ef2e9522243d38195cba2dbfbc40098099bf99e3e197efbe144ed59dad8e493" />
Located within the Bukit Jalil National Sports Complex, TM Stadium Nasional and Unifi Arena are Malaysia&rsquo;s largest sporting and entertainment venues, hosting international football matches, major tournaments, concerts, and large-scale national events. The three-year naming rights deal will also fund upgrades to seating, amenities, and technological infrastructure, improving the overall visitor experience.
&ldquo;This partnership ensures the stadiums remain modern, comfortable, and capable of attracting world-class events,&rdquo; said Iliyas Jamil. &ldquo;It is a strategic move to maintain Malaysia&rsquo;s position as a hub for sports and entertainment in the region, while also contributing to tourism and the local economy.&rdquo;
A Legacy for Future Generations
The TM-PSM collaboration goes beyond corporate branding; it represents a long-term investment in Malaysia&rsquo;s sporting and cultural heritage. By upgrading facilities and providing a more enjoyable experience for visitors, the initiative ensures both stadiums continue to serve as national landmarks.
Amar Huzaimi concluded, &ldquo;As a national telecommunications and technology company, TM views this partnership as part of our broader mission to contribute to Malaysia&rsquo;s development, support local sports, and foster national pride across generations.&rdquo;
With the new names TM Stadium Nasional and Unifi Arena, Bukit Jalil&rsquo;s iconic stadiums are poised to remain at the forefront of major sporting and entertainment events, offering world-class facilities while preserving their status as symbols of Malaysian unity and achievement.
What are your thoughts on the name change? Let us know in the comments. 
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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New deal, new names — remember this when booking your next event!

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Bukit Jalil National Stadium & Axiata Arena Gets A Rename Under TM Naming Rights Deal

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BIllie Eilish UMMY

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Coke Fifa

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UMMY Sienna Spiro

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Pizza hut Meltz 2026

Formula 1 is finally returning to Sepang this October after nearly a decade away, but turning the one-off event into a permanent fixture on the calendar would require Malaysia to commit at least RM300 million annually, according to Sepang International Circuit (SIC).
While the price tag may seem steep, SIC believes the long-term economic benefits could outweigh the costs. However, with the government prioritising cost-of-living issues and a packed Formula 1 calendar, a permanent return remains far from guaranteed.
RM300 Million Needed Every Year To Host Formula 1
<img src="https://r2.myc.my/29de5a43a2ea204cd52cc01a5e5c1ffd581c28d0aeb3a128a1114b6d79e41b1e" />
SIC Chief Executive Officer Azhan Shafriman Hanif said Malaysia would need to spend no less than RM300 million each year to secure a permanent place on the Formula 1 World Championship calendar.
The figure includes Formula 1 hosting rights, currently estimated at between US$70 million and US$80 million (around RM289 million to RM340 million), alongside the operational and technical costs required to stage a Grand Prix that meets Formula 1 standards.
Despite the sizeable investment, Azhan said data from other host nations shows Formula 1 races often generate returns worth at least three times the amount spent.
Based on those estimates, an annual investment of RM300 million could potentially deliver around RM1 billion in economic returns through tourism, hospitality, spending and other commercial activities.
Two Major Obstacles Stand In Malaysia's Way
&nbsp;<img src="https://r2.myc.my/f964db65787fd0dad2cbbdc2748ebfa16e53412212f49aff48443225dc23e90b" />
According to SIC, bringing Formula 1 back permanently depends on more than just funding.
Azhan explained that Malaysia must first be able to afford the annual hosting rights fees. Even if the financial resources are available, the country would still need to secure an open slot on Formula 1's increasingly crowded race calendar.
Formula 1 has continued expanding globally over the past few years, making available calendar dates increasingly limited as more countries compete to host races.
For now, Azhan acknowledged that the government's immediate priority remains supporting Malaysians through economic challenges and rising living costs rather than committing hundreds of millions of ringgit to a major sporting event.
Bahrain Is Paying The Hosting Fee This Time
<img src="https://r2.myc.my/2129833cfab370af958c43c42b43da099d43a27ae54b7a5e7c94dee68045cef2" />
Unlike a traditional Malaysian Grand Prix, this year's race comes under a unique arrangement.
The Formula 1 Gulf Air Bahrain Grand Prix in Malaysia, taking place at Sepang from 2 to 4 October 2026, will be hosted on behalf of Bahrain after geopolitical tensions forced the race to be relocated.
Under the agreement involving Formula 1, the FIA, and the governments of Malaysia and Bahrain, Bahrain is paying the Formula 1 hosting rights fee, while Malaysia is only responsible for preparing the circuit.
Prime Minister Datuk Seri Anwar Ibrahim said Malaysia's expenditure is limited to maintaining Sepang International Circuit to Formula 1 standards, costing approximately RM16 million. Separately, SIC has estimated local preparation costs at around RM40 million, covering operational upgrades needed for the event.
Bahrain Will Receive Ticket Revenue
&nbsp;<img src="https://r2.myc.my/7cd6652cbb51c83d31d0a3b1093b5ef45fc6cc760216ed763b5d29e708cd7e46" />
While Malaysia is hosting the race, it will not receive the commercial revenue typically associated with a Formula 1 Grand Prix.
Azhan confirmed that Bahrain will receive all proceeds from ticket sales and will also determine ticket prices for the October event.
He said discussions with Bahrain International Circuit are currently focused on operational planning, while negotiations involving ticketing, hospitality packages and official merchandise are expected to continue during upcoming meetings between both parties.
Although many Malaysian fans have called for affordable ticket prices, Azhan admitted the final decision rests with Bahrain.
Fans Left Confused Over Race Schedule
<img src="https://r2.myc.my/67f72032bab6a1bf7ef853257b83df88e65698bc60a222e96305bcf40207bb1d" />
As excitement builds for Formula 1's return to Sepang, many fans have found themselves confused over one important detail &mdash; exactly when the race weekend will take place.
Different platforms have displayed conflicting information, with some Google search results, third-party event listings and even sections of official websites showing varying dates and session timings.
While Formula 1 and SIC have confirmed the event is scheduled for 2 to 4 October 2026, spectators have continued sharing screenshots online highlighting inconsistent schedules across different platforms, leading to uncertainty over practice sessions, qualifying and race timings.
Many fans are now waiting for the final timetable and ticketing details to be officially confirmed before making travel and accommodation arrangements.
One-Off Event Could Shape Formula 1's Future In Malaysia
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://r2.myc.my/7d466a55bb1437edb857f3a5ffe596437e3707bd8c48f3f3603f3d14ef6ff36e" />
Rather than viewing this year's event as a permanent return, SIC sees it as an opportunity to prove Malaysia can once again host Formula 1 successfully.
Azhan said the experience gained from organising the Bahrain Grand Prix will provide valuable operational and commercial data that could help determine whether a permanent Formula 1 return is financially viable in the future.
Malaysia previously hosted the Malaysian Grand Prix at Sepang from 1999 to 2017, before the race was removed from the Formula 1 calendar due to rising hosting costs and licensing fees.
For now, SIC's priority is ensuring October's race runs smoothly, while any discussion about a long-term return will depend on funding, stakeholder confidence and whether Formula 1 can offer Malaysia a place on its increasingly competitive calendar.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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A permanent F1 return sounds exciting, but does it make economic sense?

1d9556b268ad87e88df696c839c185f58bbef681041258446854f9920f7a70c8

Malaysia Would Need RM300 Million A Year To Bring Formula 1 Back Permanently

A Malaysian content creator has sparked a major controversy within the global Pok&eacute;mon Trading Card Game (TCG) community after allegedly opening unreleased Pok&eacute;mon cards nearly two months before their official launch &mdash; with some collectors claiming the products may have been obtained through an unauthorised source.
The incident has raised concerns among fans worldwide, with many questioning how the highly anticipated Pok&eacute;mon TCG 30th Anniversary Binder Collection ended up in private hands before reaching official retailers. It has also sparked fears over whether the controversy could affect Malaysia&rsquo;s upcoming role as the first Asian host of Pok&eacute;mon&rsquo;s 30th Anniversary celebrations.
Unreleased Pok&eacute;mon Cards Opened Live For Up To RM4,600 Per Pack
<blockquote class="tiktok-embed" style="max-width: 605px; min-width: 325px;" cite="https://www.tiktok.com/@thecardscience/video/7665715321155751181" data-video-id="7665715321155751181">
<section><a title="@thecardscience" href="https://www.tiktok.com/@thecardscience?refer=embed" target="_blank" rel="noopener">@thecardscience</a> Pokemon 30th Anniversary Packs Early Reveal! How are they getting these packs so early? What do you guys think? <a title="pokemonmarketupdate" href="https://www.tiktok.com/tag/pokemonmarketupdate?refer=embed" target="_blank" rel="noopener">#Pokemonmarketupdate</a> <a title="pokeinvesting" href="https://www.tiktok.com/tag/pokeinvesting?refer=embed" target="_blank" rel="noopener">#pokeinvesting</a> <a title="budgetpokemoncards" href="https://www.tiktok.com/tag/budgetpokemoncards?refer=embed" target="_blank" rel="noopener">#BudgetPokemonCards</a> <a title="pokemon30thanniversary" href="https://www.tiktok.com/tag/pokemon30thanniversary?refer=embed" target="_blank" rel="noopener">#pokemon30thanniversary</a> <a title="pokemonleaks" href="https://www.tiktok.com/tag/pokemonleaks?refer=embed" target="_blank" rel="noopener">#pokemonleaks</a> <a title="♬ original sound - The Card Science" href="https://www.tiktok.com/music/original-sound-The-Card-Science-7665715525753883405?refer=embed" target="_blank" rel="noopener">♬ original sound - The Card Science</a></section>
</blockquote>

<script async="" src="https://www.tiktok.com/embed.js"></script>

The Pok&eacute;mon TCG 30th Anniversary Binder Collection is one of the franchise&rsquo;s most anticipated releases of 2026, with its official global launch scheduled for 16 September 2026.
However, in mid-July, a Malaysian streamer and seller reportedly went live on social media with English-edition boxes of the unreleased collection. Instead of simply showcasing the products, the streamer opened the packs on camera while charging viewers up to RM4,600 per pack to watch the reveals.
The move immediately caught the attention of the international Pok&eacute;mon TCG community, as products at this stage of distribution are typically still under strict control between printing facilities, distributors and authorised retailers.
Many collectors argued that the cards could not have entered circulation through legitimate channels and suspected that the products may have been taken from a printing facility or distribution centre before their official release.
During the livestream, the streamer reportedly claimed that she was not bound by any standard distributor agreement and had obtained the products through a personal connection. However, that claim has since become a major point of scrutiny among collectors.
Mystery Mew Card Divides Global Pok&eacute;mon Community
<img src="https://r2.myc.my/056f04141bb8a89eae58b2b0738ac0cab6ecbeffb7dd0596fa269a697481ecb7" />
The controversy grew further after the livestream revealed a mysterious Mew card that had never been officially announced.
The card reportedly featured the label &ldquo;B/RGB&rdquo; where a normal set number would usually appear, and appeared to pay tribute to the original Pok&eacute;mon Red, Green and Blue Game Boy titles. It was also rumoured to feature artwork by renowned multimedia artist YOSHIROTTEN.
However, the card raised questions among fans as it did not contain several expected details found on the official anniversary collection, including a confirmed set number, official documentation or the Pikachu-shaped 30th Anniversary stamp seen on other cards.
This led to a heated debate within the Pok&eacute;mon TCG community.
Some collectors believe the card could be an extremely sophisticated fake, pointing to the lack of official confirmation and unusual markings. Others argued that the card appeared too advanced to be a simple counterfeit, highlighting its texture, foil patterns and anti-counterfeit elements as possible signs of authenticity.
So far, The Pok&eacute;mon Company International (TPCi) has not confirmed or denied whether the Mew card is genuine, leaving collectors worldwide waiting for an official response.
Potential Legal Issues Over Alleged Pre-Release Products
<img src="https://r2.myc.my/e668a250fe61f38200df77f005035372823a2849f38ed1845c8145f34cbf8a53" />
Beyond the mystery surrounding the cards themselves, collectors have raised concerns over the decision to publicly monetise the opening of unreleased products.
The Pok&eacute;mon franchise has strict controls over pre-release materials, with employees and distribution partners often bound by confidentiality agreements to prevent leaks before official launches.
While the streamer may not have personally signed any agreement with TPCi, opening and profiting from products believed by the community to have been obtained improperly could create serious legal risks.
The Pok&eacute;mon Company International has previously taken action against individuals involved in major leaks and unauthorised releases. Meanwhile, professional grading companies such as PSA, CGC and BGS typically do not certify stolen or unauthorised pre-release items.
This means that even if the cards pulled during the livestream are genuine, their ability to be officially graded, sold or traded could be severely affected.
Malaysia&rsquo;s Pok&eacute;mon 30th Anniversary Hosting Role Under Spotlight
&nbsp;<img src="https://r2.myc.my/22b71b3d17370ecfa718997e477a90be7a4f9ec31bb9a48c24c7ec2113a6be4b" />
The controversy has also raised concerns beyond the actions of one individual, as Malaysia is preparing to host a major Pok&eacute;mon milestone.
Kuala Lumpur was recently announced as the first city in Asia to host the Pok&eacute;mon 30th Anniversary &ldquo;Pok&eacute;Xciting!&rdquo; celebration, taking place on 12 and 13 September 2026.
The celebration is expected to include a Pok&eacute;mon Run, TCG pop-up events, regional fan activities and a 100-day official Pok&eacute;mon Centre pop-up at Ombak KLCC.
For the Malaysian Pok&eacute;mon community, the event represents years of effort in building trust and recognition with TPCi as a growing market for the franchise.
Many local collectors have expressed disappointment over the incident, with some choosing to report the livestream rather than celebrate the early access.
While the controversy currently involves one streamer, fans fear that a supply chain breach linked to Malaysia could affect future collaborations and opportunities with the Pok&eacute;mon franchise.
For now, the global Pok&eacute;mon community remains divided &mdash; waiting for answers on whether the leaked cards are genuine, how they reached Malaysia before release, and what action TPCi may take next.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Unreleased Pokémon cards, a mystery livestream and growing questions from fans worldwide.

bf072a961d5c1b00816ac2c99a46c5ea667fd5f32dbb0bc44ad2223f71579419

Malaysian Streamer Sparks Pokémon TCG Controversy After Opening Unreleased Cards Ahead Of Official Launch

BTS once again proved their global star power after stage outfits and accessories worn during the 2026 FIFA World Cup Final Halftime Show raised more than RM1.2 million at a charity auction, accounting for nearly half of the event's total proceeds.
The online auction, titled "One Goal: An Auction to Benefit the FIFA Global Citizen Education Fund", was organised by Christie&rsquo;s in partnership with Global Citizen. Running for seven days before concluding on 29 July, the auction attracted bidders from 24 countries and raised a total of US$652,630 (approximately RM2.66 million) to support educational opportunities and access to football for children in underserved communities worldwide.
Jimin's Shirt Becomes The Auction's Top-Selling Item
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <img src="https://r2.myc.my/73219534372b21ac05f9de384befbfb60d00df5f5224cb36b78af43350381f2b" />&nbsp;
Leading the auction was the custom shirt worn by Jimin during BTS' performance of Dynamite at the World Cup Final halftime show. The piece sold for an impressive US$110,000 (around RM450,000), far exceeding Christie's pre-auction estimate of US$3,000 to US$5,000.
Remarkably, Jimin's shirt matched the final selling price of the official FIFA World Cup Final match ball, making them the joint highest-selling items of the entire auction.
Every BTS Item Surpasses Expectations
<img src="https://r2.myc.my/5597f623ddb1076aa211e12e613da113d487a748ffca97cdaa94268576b3cce7" />
Every item worn by the seven BTS members attracted bids well above their estimated values, highlighting the group's immense worldwide appeal.
The final auction prices were:
<ul>
<li>Jimin's shirt &ndash; US$110,000 (RM450,000)</li>
<li>V's scarf &ndash; US$46,200 (RM189,000)</li>
<li>Jungkook's jacket &ndash; US$46,200 (RM189,000)</li>
<li>Suga's trousers &ndash; US$33,000 (RM134,000)</li>
<li>J-Hope's gloves &ndash; US$28,600 (RM117,000)</li>
<li>RM's boots &ndash; US$19,800 (RM80,800)</li>
<li>Jin's belt &ndash; US$16,500 (RM67,400)</li>
</ul>
Collectively, the seven items raised US$300,300 (approximately RM1.23 million), contributing around 46% of the auction's total proceeds.
Other Memorabilia Also Draw Strong Bids
<img src="https://r2.myc.my/f5396d97170b2cc047f458562b2210bb1caff7e323407ee9b6c9efd05ab18404" />
While BTS dominated the auction, several other pieces of memorabilia also attracted significant attention from collectors.
An Argentina jersey signed by Lionel Messi sold for US$66,000 (approximately RM269,000), while the official World Cup Final match ball matched Jimin's shirt with a winning bid of US$110,000.
Elsewhere, Madonna's signed fingerless gloves from the halftime show's opening performance fetched US$41,800 (around RM171,000), while Justin Bieber's custom SKYLRK sneakers worn during his acoustic performance sold for US$26,400 (approximately RM108,000). Bieber's fashion label also pledged to match the auction price in full, doubling the donation generated from the shoes.
Other auctioned memorabilia included items from Shakira, Coldplay frontman Chris Martin, and several exclusive World Cup collectibles.
Supporting Children Through Football And Education
<img src="https://r2.myc.my/a45d0767ffeba14c60dd6736c2d59983d8592e3b3c5eaff4c6aa8c487349f5c5" />
Every dollar raised from the auction will go towards the FIFA Global Citizen Education Fund, a global initiative aiming to raise US$100 million to improve access to quality education and football opportunities for children in underserved communities around the world.
Commenting on the success of the event, Julien Pradels, President of Christie's Americas, described the auction as a victory beyond football.
"This is a wonderful win for an important cause. Competition in our auction was as global and fierce as it was on the World Cup soccer pitch."
The auction demonstrated not only the enduring influence of BTS, but also how the group's worldwide fanbase can drive meaningful support for charitable initiatives. With nearly half of the total funds raised coming from just seven BTS-worn items, the event highlighted the extraordinary demand for memorabilia associated with the K-pop superstars while contributing to a cause that will benefit children across the globe.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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ARMY showed up once again, with BTS memorabilia raising over RM1.2 million for a meaningful cause.

c932c536f497a2737d5287c4c65800082ed56a0de10aa5eeb421528a561f3d2c

BTS’ World Cup Halftime Show Outfits Raise Over RM1.2 Million At FIFA Charity Auction

The declassified Royal Commission of Inquiry (RCI) report into Lembaga Tabung Haji (TH) has uncovered a troubling picture of how the country's pilgrimage fund continued paying generous staff bonuses and declaring high hibah (profit distributions) despite being in a weak financial position.
Released four years after it was completed, the 211-page report examined TH's management and governance between 2014 and 2020, highlighting governance failures, questionable investment decisions, creative accounting practices and political interference that ultimately placed the institution under severe financial strain.
Bonuses Continued Despite Mounting Losses
<img src="https://r2.myc.my/2cd6482fe4c6d0875e3991d0a4424931047fbc8579d8304e614fb85b516f054d" />
Among the report's most striking findings was that TH continued rewarding employees with substantial bonuses even as its finances deteriorated.
Between 2010 and 2017, staff received bonuses ranging from one to 13 months' salary. In 2014 alone, TH reportedly set aside RM74 million for staff bonuses, comprising an 11-month performance bonus and a two-month special bonus.
However, PricewaterhouseCoopers (PwC), which later reviewed TH's financial position, concluded that the fund had already been operating with an asset-liability deficit since 2014.
The RCI found there was no justification for such generous payouts while the institution was effectively losing money, recommending that the practice be discontinued and that improperly approved bonuses be recovered where appropriate.
The report also highlighted bonus payments made by TH Properties Sdn Bhd in 2017 and 2018, amounting to RM1.15 million and RM1.05 million respectively. According to the commission, these payments breached the Companies Act 2016 as they were approved without the necessary shareholder resolutions and by a committee lacking the authority to do so.
Profits Reported Despite Underlying Losses
<img src="https://r2.myc.my/7c80e03d2184410a156ed4d52f5ee7c3278b924f849c7e73bc68628dba8f74f7" />
The commission found that TH's financial position appeared significantly healthier than it actually was.
For the 2017 financial year, depositors were informed that TH had recorded a profit of RM3.4 billion. However, after applying the appropriate accounting standards, the RCI concluded the fund should instead have reported a loss of approximately RM1.4 billion &mdash; a difference of around RM4.8 billion.
Much of the discrepancy stemmed from the failure to recognise impairment losses on investments whose value had fallen substantially.
PwC estimated that TH had accumulated losses of roughly RM10 billion by 2017, with the fund remaining in deficit for several years before the financial problems became publicly known.
'Creative Accounting' Used To Maintain Hibah Payments
<img src="https://r2.myc.my/3eb9a262180575587c8e21d5fc2accfae136a921d5baa6c28fbb15a3cb715708" />
Despite the deteriorating financial position, TH continued distributing attractive hibah returns to depositors.
Under Section 22 of the Tabung Haji Act 1995, hibah can only be declared if the fund's assets exceed its liabilities.
Instead of relying on audited asset values, however, the RCI found that TH management used a higher internal valuation known as the Realisable Asset Value (RAV), allowing the institution to satisfy the legal requirement on paper while avoiding the recognition of significant impairment losses.
The commission described this as "creative accounting", concluding that TH's 2017 hibah distribution of 4.5%, together with an additional 1.75% haj hibah costing RM2.75 billion, should never have been declared under the audited financial position.
Crime analyst Kamal Affandi Hashim said such accounting practices could indicate deliberate criminal conduct rather than simple administrative mistakes, arguing that manipulating financial statements to conceal losses may expose both those directly involved and those responsible for oversight to potential legal liability.
Warning Signs Were Ignored
The RCI found that several warning signs emerged years before TH's financial issues became public.
Bank Negara Malaysia reportedly issued multiple warning letters to TH between 2014 and 2015 regarding its financial position.
In 2017, international consultancy Roland Berger also warned that TH had been depleting its reserves to maintain hibah payouts and cautioned that the adoption of new accounting standards would expose billions of ringgit in unrealised losses.
However, the report found no evidence that these findings were ever presented to TH's board before the 2018 General Election.
Costly Investments Added To Financial Pressure
<img src="https://r2.myc.my/aa65353e162e04c1fd3b4ddef81393dfbc7e7e9a5bd704331f492dd74a37d03d" />
The commission identified 14 investments that should undergo forensic audits due to governance concerns and significant losses.
Among the largest was TH's investment in FGV Holdings, which resulted in an unrealised loss exceeding RM1.06 billion after the value of its shares fell sharply following the company's 2012 listing.
Other major losses included:
<ul>
<li>RM364.31 million impairment involving Trurich Resources.</li>
<li>RM278 million impairment linked to TH Marine.</li>
<li>RM225 million loss from the Deru Semangat plantation project after environmental issues affected buyers' confidence.</li>
<li>RM170 million impairment involving TH Plantations.</li>
</ul>
According to the RCI, investment decisions were often made through weak coordination and excessive reliance on recommendations from TH's own management, while ministers approved proposals without obtaining independent external advice.
Governance Failures And Political Influence
The report also highlighted broader governance weaknesses within TH.
Political appointments to the board between 2014 and 2018 were said to have undermined public confidence, while several senior executives simultaneously held numerous directorships across TH subsidiaries, creating potential conflicts of interest and reducing oversight.
The commission also criticised the growing financial burden of haj subsidies, which had been funded using TH's investment returns, placing additional pressure on its long-term financial sustainability.
Investigations To Continue
<img src="https://r2.myc.my/95c2c7b5e168ddaaf2459237f03410d72d4fbfb01384e1d504062f1b1db895ba" />
The RCI recommended 25 reforms, including stronger governance measures, forensic audits into selected investments, stricter board appointment criteria and limiting political involvement in TH's management.
It also called for immediate follow-up on police reports and referrals to the Malaysian Anti-Corruption Commission (MACC) involving allegations of corruption, document falsification and financial misconduct.
The Cabinet has since ordered enforcement agencies to continue investigations and take legal action against any parties found to have breached the law.
In response, Tabung Haji said the issues identified in the report related to the period before 2018 and maintained that significant improvements had since been implemented. According to TH, approximately 75% of the RCI's recommendations have already been carried out, with the remaining reforms currently underway.
The pilgrimage fund added that it has rebuilt its financial position, restored its reserves and recently announced a 3.5% profit distribution for the 2025 financial year &mdash; its highest hibah rate in eight years &mdash; while reaffirming its commitment to strengthening governance, protecting depositors and restoring public confidence.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Big bonuses, mounting losses and serious governance concerns take centre stage in the latest RCI findings.

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RCI Reveals Tabung Haji Paid Generous Bonuses Despite Financial Losses

FIFA president Gianni Infantino is facing growing opposition after unveiling a controversial proposal to sell minority stakes in the commercial rights of the FIFA World Cup and other major tournaments to private investors.
The plan, which would create a new commercial entity known as FIFA Forward Enterprise (FFE), has drawn fierce criticism from UEFA, national football associations, politicians and supporters, many of whom argue that football's biggest competition should not become an investment vehicle.
With FIFA's 211 member associations given until 19 September to decide whether to support the proposal, the debate has quickly become one of the biggest governance issues in world football.
What Is FIFA Proposing?
<img src="https://r2.myc.my/f3262b4559bdbcfa36b0ea81633d95f00b890266dad84b32110c02fd588da3d6" />
Under the proposal, FIFA would establish FIFA Forward Enterprise (FFE), a separate company responsible for managing the commercial operations of the World Cup, Women's World Cup, Club World Cup and other FIFA competitions.
FFE would oversee areas such as broadcasting rights, sponsorships, ticket sales, licensing and event operations.
Although FIFA says it would retain majority ownership and continue to control football governance, competition formats, regulations and the international match calendar, it intends to sell up to 21% of the company to private investors, raising approximately US$4.2 billion.
The governing body values FFE at around US$20 billion, with investment firm Thrive Capital, led by Joshua Kushner, expected to head the investor group. Global banking giant JP Morgan is serving as FIFA's financial adviser on the project.
Infantino Promises Billions For Member Associations
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Infantino has framed the proposal as a way to "democratise football" by redistributing more of the sport's commercial wealth to national football associations.
In a letter sent to all 211 FIFA member associations, he said countries that approve the proposal by 19 September could receive development funding worth up to US$40 million each during the 2027-2030 cycle.
This includes an immediate US$20 million payment from January 2027 through a new FIFA Fast-Forward Programme, alongside another US$20 million through FIFA's expanded Forward development programme.
Overall, FIFA says the initiative would unlock more than US$10 billion in football development funding over the coming years.
However, Infantino also warned that if the proposal is rejected, member associations would instead receive only the previously planned US$2.7 billion development package, amounting to around US$10 million per association.
The financial incentive has led critics to argue that member associations are effectively being pressured into backing the proposal.
UEFA Leads Fierce Opposition
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The strongest resistance has come from UEFA, which accused FIFA of crossing a line by attempting to commercialise football's most prestigious competitions.
In a strongly worded statement, UEFA said football's governance and heritage "are not assets to trade", adding that "none of us are the owners of football. It is not FIFA's to sell."
European football's governing body also criticised the lack of transparency surrounding the proposal, saying major stakeholders were not properly consulted before the plans became public.
UEFA has since convened discussions with its 55 member associations, with reports suggesting that some European nations are even considering the possibility of a boycott should the proposal proceed.
National Associations And Politicians Raise Concerns
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Several national football associations, including the Football Association (FA) of England, said they had received virtually no information before news of the proposal emerged publicly.
The FA described itself as "deeply concerned" about both the process and governance behind the plan, saying it would reserve judgement until FIFA provides full details.
Similar concerns have been voiced by the Football Association of Wales, the Irish FA, CONCACAF, the Asian Football Confederation and numerous European football organisations.
Politicians have also entered the debate.
<img src="https://r2.myc.my/0a5f737a1583ed8d016acc32139c0a0d0c6900ba6406429ee8bdb69c80f15cdc" />
UK Prime Minister Andy Burnham argued that football belongs to supporters rather than investors, insisting that the World Cup "was never anyone's to sell".
La Liga president Javier Tebas similarly criticised the proposal, accusing Infantino of prioritising commercial interests over the sport itself.
Why Critics Are Worried
<img src="https://r2.myc.my/19ea94ced861132bc4d9a37b3dc61e068870623f03097b26a278c11e779f893c" />
Although FIFA insists that outside investors would only own minority stakes and have no control over football decisions, many critics believe commercial pressures could eventually influence how tournaments are organised.
There are concerns that investors seeking maximum returns may push FIFA to expand tournaments further, stage the World Cup more frequently, prioritise commercially attractive host nations or introduce additional revenue-generating changes.
Critics also argue that once private capital becomes financially invested in football's flagship competitions, protecting investor returns could gradually become a greater priority than preserving sporting integrity.
The involvement of Thrive Capital has also attracted scrutiny due to founder Joshua Kushner's family ties to US President Donald Trump, while Infantino's increasingly close relationship with Trump has further fuelled concerns about transparency.
Why Many Believe The Plan Could Still Pass
Despite the backlash across Europe, Infantino is still widely expected to secure enough support for the proposal.
Since becoming FIFA president in 2016, he has significantly increased development funding distributed to football associations across Africa, Asia, Oceania and the Americas.
Many smaller associations rely heavily on FIFA grants and could view the additional funding as too significant to reject.
Because FIFA proposals only require support from a simple majority of its 211 member associations, Infantino may have enough backing outside Europe for the proposal to succeed.
A Defining Moment For Football Governance
The proposal has become one of the most controversial initiatives of Infantino's presidency, raising wider questions about the future ownership and commercialisation of football.
Supporters argue that attracting private investment could generate unprecedented funding for football development around the world.
Opponents, however, believe football's greatest competition should never become an asset partly owned by investment firms, warning that commercial interests could eventually outweigh the interests of players, clubs and supporters.
With FIFA members set to vote by 19 September, the outcome could reshape how the World Cup is funded and managed for decades to come.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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A billion-dollar proposal has sparked football's biggest backlash yet.

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FIFA's World Cup Sell-Off Plan Sparks Global Backlash As Infantino Pushes Multi-Billion-Dollar Proposal

A PKR lawmaker has urged the government to suspend Chinese e-commerce platform Pinduoduo&rsquo;s operations in Malaysia until a proper cross-border anti-dumping framework is introduced, arguing that the platform&rsquo;s business model could put local businesses at a disadvantage.
Gopeng MP Tan Kar Hing called on the government to consider removing Pinduoduo from app stores and delaying its operations until stronger regulations are established to ensure fair competition.
According to Tan, Pinduoduo&rsquo;s factory-to-consumer (F2C) model allows overseas manufacturers to sell directly to Malaysian consumers at prices that local businesses struggle to match. While Malaysian companies must bear costs such as taxes, product certifications, safety requirements, warehouse expenses and other regulatory obligations, overseas sellers can often operate with lower costs.
He warned that unchecked growth of cross-border e-commerce platforms could place pressure on local manufacturers, wholesalers and distributors, potentially affecting businesses, jobs and the wider economy.
What Is Pinduoduo And Why Is It So Cheap?
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Pinduoduo is one of China&rsquo;s largest e-commerce platforms, connecting consumers directly with manufacturers through a factory-to-consumer model. By reducing the number of middlemen involved in the supply chain, sellers are able to offer products at significantly lower prices compared with traditional retail channels.
For example, a household product sold by a Malaysian retailer for around RM13 could reportedly be listed on Pinduoduo for as little as RM2, including delivery from China.
Unlike platforms such as Shopee and Lazada, which mainly operate as marketplaces where local and international sellers run their own online stores, Pinduoduo focuses heavily on direct factory sales, bulk manufacturing and aggressive pricing strategies.
All three platforms offer products ranging from electronics and fashion to household goods and daily necessities. However, Pinduoduo&rsquo;s competitive advantage comes from its close connection with manufacturers, allowing consumers to purchase goods closer to factory prices.
While this benefits consumers looking for affordable products, some local businesses worry that they will struggle to compete against prices that may be difficult for domestic retailers to sustain.
Tan Claims Local SMEs Face An Uneven Playing Field
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Tan argued that the issue goes beyond cheaper prices, claiming local businesses face higher compliance costs compared with some overseas sellers.
He said Malaysian companies are required to comply with regulations involving product certification, taxation, quality control and other operational requirements, while certain foreign platforms may not face the same level of obligations.
To address these concerns, Tan proposed several measures, including requiring overseas platforms to store Malaysian users&rsquo; data locally and encouraging partnerships with local manufacturers, suppliers and logistics companies.
He said such requirements could help ensure foreign platforms contribute to Malaysia&rsquo;s economy through technology transfer, industry development and support for local small and medium enterprises (SMEs), rather than only benefiting from Malaysian consumer spending.
Some Figures Cited By MP Face Scrutiny
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While many agree that local businesses face growing pressure from low-cost overseas platforms, some statistics cited by Tan have been questioned.
Tan stated that SMEs make up 98% of Malaysian businesses and contribute &ldquo;nearly half&rdquo; of the country&rsquo;s GDP.
However, figures from SME Corp Malaysia show that SMEs account for around 96.1% of businesses nationwide, while contributing 39.5% of GDP. The figure closer to half relates to employment, with SMEs accounting for 48.7% of the workforce.
Tan also criticised cross-border platforms for avoiding taxes, although Malaysia introduced a 10% Low Value Goods (LVG) Tax on eligible imported online purchases from 1 January 2024.
The tax was introduced to reduce the gap between local and overseas sellers. However, concerns remain over differences in areas such as product certification, consumer protection requirements and regulatory compliance.
Debate Over Cross-Border E-Commerce Expected To Continue
<img src="https://r2.myc.my/0815cd06ee1eeee6023024669da35489d3e79e3412c648107591ab39e4d4fdff" />
Despite questions surrounding some of the figures used, Tan&rsquo;s concerns highlight a wider debate over how Malaysia should regulate rapidly expanding cross-border e-commerce platforms.
He stressed that his proposal is not aimed at rejecting foreign investment or digital platforms, but rather creating a fairer environment for local businesses to compete.
As platforms offering ultra-low prices continue to grow in Malaysia, policymakers will need to balance consumer demand for affordable goods with the need to protect local businesses and maintain a sustainable domestic retail ecosystem.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Could Pinduoduo be banned in Malaysia? PKR MP pushes for suspension over fair competition concerns.

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