KUALA LUMPUR – The Armed Forces Fund Board (LTAT) has declared an improved dividend of 3.5% for the financial year ended December 31, 2020, compared with 2.5% the year prior.
Defence Minister Datuk Seri Ismail Sabri Yaakob, in a statement today, said LTAT is able to declare a better dividend on the back of a higher net profit of RM229 million, compared with RM92.8 million in 2019.
“I am pleased with the results achieved by LTAT in 2020, more so because it was achieved amid a challenging economic climate brought about by the Covid-19 pandemic.”
He said the key contributing factor to the improved results was the successful implementation of high-impact initiatives via the fund’s Transformation Plan.
“This enabled LTAT to record an increased retained profit of RM287.5 million after the payment of dividends amounting to a total of RM310.7 million, compared with a retained profit of RM63.5 million in 2019.”
He said LTAT will continue to enhance its prospects via the Transformation Plan, premised on strengthening and rebalancing its investment portfolio, while improving its organisational structure, risk management, corporate governance practices and human capital development.
He said LTAT implemented 41 initiatives in 2019 and 53 last year, with an additional 77 to be rolled out this year, geared towards strengthening the operational and financial performance of the fund and its subsidiaries. – Bernama, May 11, 2021
