KUALA LUMPUR: The Armed Forces Fund Board (LTAT) plans to reduce its strategic asset holdings from 56% to 35% under ‘Project Earth’ over the next three years to lower exposure while retaining control.
LTAT chief executive Mohammad Ashraf Md Radzi said strategic assets currently account for 56% of the RM13.6bil under management.
“Through this capital recovery, any transactions or monetisation will allow us to reclaim the capital invested in these companies in a structured manner – at their rightful value – and reinvest in other asset classes where we have gaps,” he said at the LTAT Dividend 2024 media briefing yesterday.
He noted that LTAT’s strategic assets include its wholly owned subsidiary, Boustead Holdings Bhd, a 54.9% stake in Pharmaniaga Bhd
and a 22% stake in Affin Bank Bhd. — Bernama
