INSTITUTIONAL Fund Lembaga Tabung Angkatan Tentera (LTAT) will be paying out 7% dividend and 3% bonus, involving RM315.9mil, to its contributors this year, Defence Minister Datuk Seri Mohd Najib Tun Razak said.
LTAT has been able to maintain the combined dividend and bonus rate of 10% this year due to its prudent and selective investment strategy, Najib told reporters after unveiling the scaled model of The Curve mall, a project by BOUSTEAD HOLDINGS BHD, which is a subsidiary of LTAT.
LTAT was set up in 1972 to look after the welfare of servicemen and ex-servicemen. Besides providing them with a retirement fund, it also provides other benefits, which includes housing assistance.
Najib said that for last year, LTAT registered unaudited profit of RM439mil compared with RM470.1mil in 2001.
The performance if LTAT is still good despite the challenging economic environment in 2002, he said.
Najib said that for last year, LTAT had made payments totalling RM813.3mil to its contributors who completed their service.
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