LTAT declares 12% dividend, bonus for FY16

SUBANG, 25 Jan -- Menteri Pertahanan Datuk Seri Hishammuddin Tun Hussein berucap pada program Retreat Halatuju Kementerian Pertahanan Malaysia (MINDEF) Tahun 2017, hari ini. --fotoBERNAMA (2017) HAK CIPTA TERPELIHARA

KUALA LUMPUR: The Armed Forces Fund Board (LTAT) will be paying 12% dividend and bonus for the financial year ended Dec 31, 2016 (FY16), involving a sum of RM685.5mil. 

Defence Minister Datuk Seri Hishammuddin Hussein said payout comprised of 6% dividend and 6% special bonus in the form of unit trusts for active members. 

He said the rate declared was higher than the average yearly dividend and bonus of 11.3% since LTAT’s was set up 44 years ago. 

The dividends and bonuses to contributing members will be credited into their accounts starting tomorrow, he said in a statement on Wednesday. 

He said the LTAT’s unaudited total profit rose 5.8% to RM811mil in FY16 from RM766.8mil in FY15. 

For the year under review, the fund’s total assets increased 2.2% to RM9.5bil from RM9.3bil in the previous year, while members’ contribution stood at RM8.6bil compared with RM9.1bil previously. 

On LTAT’s performance, Hishammuddin said the fund had provided various payouts, incentives and contributions to its members. 

He said these included payouts amounted to RM15.9mil to 1,952 contributors who were eligible to buy a house or land under the Housing Withdrawal Scheme. 

The fund, through Perbadanan Perwira Niaga Malaysia, provides consumers goods below market prices to help members of the armed forces cope with the rising cost of living, involving subsidies amounted to RM10.6mil, he said. - Bernama