LTAT DECLARES 5.25 PCT DISTRIBUTION, RM514.2 MLN, A 7-YEAR HIGH

KUALA LUMPUR, March 27 (Bernama) -- The Armed Forces Fund Board (LTAT) has announced a 5.25 per cent total payout for 2024, comprising a five per cent dividend and a 0.25 per cent bonus, its highest in seven years.  

LTAT said the total distribution of RM514.2 million marked an increase from RM485.08 million in 2023.  

Minister of Defence Datuk Seri Mohamed Khaled Nordin said the payment would benefit 125,014 contributors, all members of the Malaysian Armed Forces (ATM).  

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"This is the third consecutive year LTAT has maintained a five per cent dividend, reflecting a strong recovery, sustainable performance, and financial stability," he said at the LTAT 2024 Dividend Announcement Ceremony today.  

The 2024 financial year dividend will be credited to contributors' accounts on March 28, 2025. Contributors can check their statements via the MyWIRA mobile application or LTAT's official website.  

Meanwhile, LTAT chief executive Mohammad Ashraf Md Radzi said LTAT had strengthened its financial position, recording year-on-year increases in all key performance indicators.  

For FY2024, LTAT posted a total revenue of RM753 million, up 2.5 per cent from the previous year.  

"This growth was driven by asset diversification and higher returns from strategic assets, reflecting disciplined portfolio management and a commitment to sustainable growth," he said.  

Net profit surged 23.7 per cent to RM588 million for FY2024, supported by strong revenue growth and prudent cost management.  

Since 2022, LTAT's net profit has consistently exceeded RM400 million annually, further strengthening its accumulated income.  

LTAT's accumulated reserves rose 160 per cent year-on-year to RM1.01 billion in the period under review. 

"This performance underscores the strength of Malaysia's domestic economy, where 100 per cent of LTAT's investments are in the local market.  

"It also reflects the effectiveness of government policies in regulation and development, which have fostered a stable investment and business environment," he added.

Separately, LTAT announced the selection of five military camps under the 'Kem Santuni MADANI' initiative, in collaboration with LTAT Group companies. The programme aims to address challenges in these camps, including infrastructure upgrades, financial empowerment initiatives, and community support programmes.  

-- BERNAMA