Diesel Subsidies Will Not Affect TH Properties

Diesel Subsidies Will Not Affect TH Properties

Kuala Lumpur, 28 May 2024 – In response to the recent announcement by the YAB Prime Minister regarding the rationalisation of diesel subsidies and their potential impact on the property development sector, TH Properties Sdn. Bhd. (TH Prop), a wholly owned subsidiary of Lembaga Tabung Haji wishes to clarify its stance and reassure stakeholders of its resilience amidst these developments.

Amid challenges posed by rising construction material costs and fuel subsidy rationalisation, TH Properties said it is confident of continuing to defend its profit margin as both TH Properties and their appointed contractors procure unsubsidised diesel at commercial rates for its operations, which are not influenced by government subsidies. This approach reduces dependency on subsidised fuel and shields the company from fluctuations in subsidy policies.

TH Properties Sdn. Bhd. commend the government’s proactive steps to optimise subsidy distribution and promote sustainable economic growth. As part of Lembaga Tabung Haji, the company is committed to supporting initiatives that enhance national development and is confident that the rationalisation mechanism will not adversely affect the company’s operations as a property developer.

The company remains dedicated to supporting government policies that foster economic stability and growth, reaffirming its commitment to national development goals.

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