LTAT announces 5% dividend for year 2023

KUALA LUMPUR: The Armed Forces Fund Board (LTAT) has announced a 5% dividend involving a total payment of Rm485.08mil for the year 2023.

Defence Minister Datuk Seri Mohamed Khaled Nordin said the amount was higher than Rm476.45mil paid in 2022.

“Hopefully, this brings good news to the 123,380 contributors who are members of the armed forces saving with LTAT.

“With the announcement of this dividend, we believe that LTAT will excel as a pension fund for serving armed forces personnel.

“LTAT is expected to continue playing a role in advancing the country’s economy through its participation through various fields,” he told reporters after the dividend announcement here yesterday.

He said the dividend distribution for the year 2023 will start on April 4.

Commenting on the alleged financial crisis involving LTAT, Mohamed Khaled said it was an unfounded accusation.

“People don’t really check with us (LTAT). They seem to believe more in sensational stories. We are unlikely to announce such a dividend if we do not have a solid and strong financial position,” he said.

With the appointment of Gen (R) Tan Sri Azizan Ariffin as the new LTAT chairman and Mohammad Ashraf Md Radzi as the new LTAT chief executive effective April 1, he expressed confidence in the restructuring of LTAT.

“We will make sure that all the plans will be successful based on things that we believe are good for the future of LTAT besides protecting the interests of the contributors,” he said.

When asked about the sale of Affin Bank Bhd’s shares to the Sarawak government, he said the matter would proceed and was now awaiting Bank Negara’s approval. — Bernama