‘AES helped support veterans’

PETALING JAYA: A former chairman of the Armed Forces Fund Board (LTAT) has clarified its involvement in the Automated Enforcement System (AES) project.

Admiral (Rtd) Tan Sri Mohd Anwar Mohd Nor said in 2014, LTAT was invited by the previous administration to take over ATES Sdn Bhd and Beta Tegap Sdn Bhd, the two concessionaires of the AES project.

He said after due diligence, the project was found to be commercially viable with a strong double digit return on investment, besides creating employment opportunities for army veterans and reducing road accidents.

Mohd Anwar, who is currently the Malaysian Armed Forces Veterans Association president, said that in 2017, the government decided to take over the AES project (which was then called AWAS) from LTAT.

The then government also agreed to repay LTAT’s investment cost in the AES project with a 12% return per annum, he said in a statement here yesterday.

He said it would be “quite unfair” if the current government decides to repay the money spent by LTAT to acquire the two companies without paying the 12% returns and other AES project-related expenses incurred so far.

LTAT, pointed out Mohd Anwar, was providing employment for its veterans and looking after the welfare of its members.

“It has been paying an average of 11.3% in annual dividends to its members.”