Wednesday, June 17, 2009

Waqaf An-Nur Corporation Berhad

Waqaf An-Nur Corporation Berhad

JCorp established a chain of clinics and dialysis centres under the name of Waqaf An-Nur Clinics since 1st November 1998[1] . This was pursuant to its “Corporate Waqaf” concept as part of its Corporate Social Responsibility initiatives.

The clinics were initially managed by KPJ Healthcare Berhad, one of JCorp’s subsidiaries. On 25th October 2000 JCorp incorporated Pengurusan Klinik Waqaf An-Nur Berhad (“the company”) and took over the management of the Klinik Waqaf An-Nur chain. [2].

The company is a company limited by guarantee and not having share capital. According to the company’s Annual Report 2007, the principal activities of the company are as beneficiary, managers and administrator of waqaf and also acts as “Maukuf-alaihi” for shares and other kind of company business securities from “waqif”, including especially Johor Corporation, the general Muslim community and company or body or other organization and also acts as investment holding company.”[3]

On 1st December 1999, the company obtained tax deductible status for contributions from donors pursuant to section 44© of the Income Tax Act 1967.

Pursuant to a “Hujjah Wakaf” signed by JCorp on 24the October 2000, a waqaf of the clinics including the lands upon which they were situated was created by JCorp with the company as trustee.[1] The Board of Directors of the company consisted of representatives from the State Religious Department and JCorp.

This waqaf was made pursuant to the Johor Administration of Islamic Religion Enactment 1978 (section 44) and Kaedah-Kaedah Wakaf Johor 1983. These were subsequently repealed and substituted by the Administration of Islamic Religion Johor 2003 (see section 89).

On 19th July 2005, the company changed its name to Kumpulan Waqaf An-Nur Berhad.[2]

On 3rd August 2006, JCorp granted another waqaf of all its shareholdings in 3 listed companies ie Kulim (M) Berhad (4.68% of equity), KPJ Healthcare Berhad (4.32% of equity) and Johor Land Berhad (3.57% of equity) totalling a value of RM200 million.[4]

On or about 18th May 2009 the company changed its name to Waqaf An-Nur Corporation Berhad.

70% of the dividends owned by the company through its shareholdings in the listed companies are reinvested in growing the business core as well as in human capital investments to meet long term growth needs. The remaining 30% is channeled to fund the activities of the company.[5]

The Profits (after tax) and Distribution of funds to Special and Trust Funds Account (ie for the purposes stated in the waqaf testimonial) for the company is as follows:-

Year Profit (after tax) Special Funds distribution
2006[6]
3,802,488 2,236,099
2007[6]
1,467,392 1,895,225
2008[2]
2,670,000 (before tax) 540,000







1. Wahid, M.A., Konsep dan pelaksanaan wakaf di Klinik Waqaf AN-Nur Johor Bahru, in Latihan Ilmiah Reserves. 2005, Akademi Pengajian Islam: Kuala Lumpur.
2. Waqaf An-Nur Corporation Berhad, Waqaf An-Nur Corporation Berhad in Mingguan Malaysia. 2009: Kuala Lumpur.
3. JOhor Corporation, Annual Report. 2007.
4. Johor Corporation, Waqaf Korporat untuk Jihad Bisnes, J. Corporation, Editor. 2007.
5. Johor Corporation, Corporate Wakaf Concept. 2006.
6. Kumpulan Waqaf An-Nur Berhad, Annual Report. 2007.

1 comment:

  1. How is the thesis coming along ? Thought sharing is welcomed.

    ReplyDelete