12 Jul 2013 11:19

KUALA LUMPUR, July 10 (Bernama) -- The Pilgrims Fund Board (Tabung Haji) is seeking a foray into the food sector as a strategy to expand its business.

It is currently involved in the industrial, services, plantations and banking as well as the real estate sectors.

Speaking to Bernama recently, its Group Managing Director and Chief Executive Officer Datuk Paduka Ismee Ismail said the plan, which is still in the planning stage, should be implemented in the near future.

"Tabung Haji needs to undertake a study first to identify the available opportunities. Is it in food sales or the distribution network? All this needs to be studied.

"We are also seeking the best way to penetrate the food market in a big way as it has great potential," he added.

The fund manager for the Muslim community in Malaysia to undertake the pilgrimage to Makkah, is also considering purchasing shares in Bumiputera companies involved in the food sector, and listed on Bursa Malaysia.

"We are looking at small Bumiputera companies with good products but without the marketing ability to expand the business. We are monitoring several Bumiputera companies with the potential to be assisted," Ismee said.

Meanwhile, he said among the other non-traditional sectors which have gained the attention of Tabung Haji is, oil and gas, pharmaceuticals, as well as education.

Tabung Haji which celebrated its 50th anniversary this year, is a statutory body incorporated under the Lembaga Tabung Haji Act, 1995 (Act 535).-- BERNAMA