LTAT announces 5% dividend, to pay out RM485.08mil

KUALA LUMPUR: The Armed Forces Fund Board (LTAT) announced a dividend rate of five per cent for the year 2023 involving a total payment of RM485.08mil.

Defence Minister Datuk Seri Mohamed Khaled Nordin said the amount of the payment was higher than RM476.45mil for 2022.

"Hopefully, this brings good news to the 123,380 contributors who are members of the armed forces saving with LTAT. With the announcement of this dividend, we believe that LTAT will excel as a pension fund for serving armed forces personnel.

"LTAT is expected to continue playing a role in advancing the country’s economy through its participation in various fields," he told reporters after the LTAT 2023 dividend announcement at Hotel Royale Chulan, here on Thursday (April 4).

He said the dividend distribution for the year 2023 would start on Thursday.

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Meanwhile, commenting on the alleged financial crisis involving LTAT, Mohamed Khaled said it was an unfounded accusation.

"People don't really check with us (LTAT). They seem to believe more in sensational stories. We are unlikely to announce such a dividend if we do not have a solid and strong financial position," he said.

Besides, the appointment of Gen (Rtd) Tan Sri Azizan Ariffin as the new LTAT chairman and Mohammad Ashraf Md Radzi as the new LTAT chief executive effective April 1, he expressed confidence in the restructuring of LTAT.

"We will make sure that all the plans will be successful based on things that we believe are good for the future of LTAT besides protecting the interests of the contributors," he said.

In the meantime, when asked about the sale of Affin Bank Bhd's shares to the Sarawak government, he said the matter would proceed and was just waiting for Bank Negara's approval.- Bernama