LTAT unaudited income up 34.7%

KUALA LUMPUR: Malaysian Armed Forces Fund (LTAT) recorded an increase of 34.7% in unaudited total income to RM747.5mil for the financial year ended Dec 31, 2010, the highest profit since its establishment 38 years ago.

Eligible members will receive total dividends and bonuses at a rate of 14% for the financial year under review.

The payout, which comprises 7% dividend, 1% bonus and 6% special bonus in the form of unit trusts, amounts to a total of RM616.3mil, an increase of 7.2% against the 2009 payout.

LTAT's total assets as at Dec 31, increased by 1.3% year-on-year to RM7.6bil, while member's contributions stood at RM6.7bil compared with RM6.3bil in 2009.

Minister of Defence Datuk Seri Dr Ahmad Zahid Hamidi said he was given to understand that LTAT expected to continue on this performance streak in line with the growth of the national economy and the exciting developments taking place in Asia.

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