【Negeri Sembilan Election】Pilgrims Fund Board Scandal Exposed: Nga Kor Ming Calls for Support for PH to Prevent Repeat of Corruption

(Seremban, 31st) DAP National Deputy Chairman and Minister of Housing and Local Government Nga Kor Ming said today that the declassification of the Royal Commission of Inquiry report on the Pilgrims Fund Board reveals the "ugly truth" about mismanagement and rampant corruption at this Muslim savings institution during the Barisan Nasional administration.

He pointed out that this fully proves why Malaysians must continue to support Pakatan Harapan to prevent this corrupt history from repeating.

Speaking at mass campaign events in Rantau and Mantin, Nga Kor Ming said the Royal Commission report revealed that the Pilgrims Fund Board's financial report for the 2017 fiscal year listed a profit of RM3.4 billion, but if the Malaysian Financial Reporting Standards had been applied, it should in fact have recorded a net loss of RM1.4 billion.

He stressed, “A bookkeeping profit of RM3.4 billion, but actually a loss of RM1.4 billion – this is textbook financial fraud,” using fake profits to cover up the truth that the institution was severely insolvent. At the same time, he also criticized the Board for issuing a 13-month bonus during the financial crisis, outright calling this "legalized corruption."

Nga Kor Ming stated that the case of the Pilgrims Fund Board is not just mismanagement, but a “betrayal of the savings of hundreds of thousands of Malaysian Muslim pilgrims.”

He said that the previous efforts of the PH government to restore the finances of the Pilgrims Fund Board were slandered and attacked by political opponents, showing that these politicians would distort facts at any cost to gain power.

He pointed out that now, as the Pilgrims Fund Board recorded a 3.5% profit distribution for the 2025 fiscal year, it shows that since PH took over, recovery has been gradual. He cited a string of scandals like 1MDB, criticizing Barisan Nasional for leaving a mess after 60 years in power, while the unity government under PH has seriously cleaned up the aftermath. The fiscal deficit has narrowed for five consecutive years, dropping from 6.4% in 2021 to a projected 3.7% in 2025.

In view of the upcoming Negeri Sembilan state election, Nga Kor Ming also lashed out at BN and PN for continually stirring up racial and religious issues to provoke voters during the campaign, yet could not even produce a clear candidate for Menteri Besar. He emphasized: "Racial politics cannot be eaten, and it cannot bring development. Stirring up racial and religious confrontation every day will only frighten off investors and undermine social stability.”

Nga Kor Ming called on all Negeri Sembilan voters, especially outstation voters, to mobilize in full force and come out to vote on polling day on August 1st, using their votes to reject racial politics and the culture of corruption.

Prominent leaders attending the campaign events included DAP Secretary-General and Seremban MP Anthony Loke, Penang Bukit Gelugor MP and former Deputy Minister in the Prime Minister's Department Ramkarpal Singh, Puchong MP Yeo Bee Yin, Selangor EXCO and Sekinchan Assemblyman Ng Suee Lim, PH candidate for Jina Arumugam, PH candidate for Mantin Lee Kai Yit, and prominent activist Hew Kuan Yau, among other leaders from various circles.