LTAT declares 12% dividends, disproves Rafizi’s claims

(FMT) – The Armed Forces Fund Board (LTAT) recorded RM766.8 million in profits last year and declared dividends and bonuses of 12% for its investors in 2015.

Defence Minister Hishammuddin Hussein announced this today to rebut allegations by PKR Secretary-General Rafizi Ramli concerning LTAT’s gratuity payments to its 122,000 investors.

“LTAT recorded profits of RM766.8 million in 2015.

“I would like to announce today that dividends and special bonuses of 12% will be given to LTAT’s investors.

“This means that the previous allegations concerning LTAT’s status are wild accusations, which we can today answer with the announcement of our dividends.”

Last April, Rafizi said that official documents in his possession revealed 1Malaysia Development Berhad’s arrears to LTAT subsidiary Perbadanan Perwira Hartanah Malaysia (PPHM) had reached RM396.41 million in September.

The arrears, he said, had directly affected LTAT’s cash flow and caused delays in paying gratuities to pension-less veteran soldiers.

LTAT Chairman Mohd Anwar Mohd Nor has begun legal action against Rafizi, calling his accusations defamatory and ill-intentioned with the aim of destroying LTAT’s credibility.