The Royal Commission of Inquiry (RCI) report into Lembaga Tabung Haji’s (TH) affairs between 2014 and 2020 was declassified on Wednesday, and it paints a bleak picture of the institution. It’s the sort of classic case of political interests and weak governance winning out over millions of depositors who fund their pilgrimage through it. Management reportedly never brought the findings to the board – this in the run-up to the tightly contested 2018 general election. Management argued the Act “does not have a clear definition of assets,” a position that later triggered a 2019 police report. Subsidiary TH Properties separately paid bonuses in 2017 and 2018 that the RCI found breached the Companies Act.