LTAT HERO ENTREPRENEUR INITIATIVE UPLIFTS MAF VETERANS’ SOCIO-ECONOMIC WELL-BEING

BUTTERWORTH, Oct 17 (Bernama) -- The Ministry of Defence (MINDEF), through the Armed Forces Fund Board (LTAT), has proven effective in empowering Malaysian Armed Forces (MAF) veterans and improving their socio-economic well-being through entrepreneurship via the LTAT Hero Entrepreneur programme.

Deputy Defence Minister Adly Zahari said the programme, introduced last year, had successfully produced 29 veteran entrepreneurs in its first phase, recording an average income increase of 216 per cent. It also showed significant progress in financial literacy, business management and market competitiveness among participants.

 He described the achievement as a remarkable success that reflects the strong entrepreneurial potential of MAF veterans when given proper opportunities and guidance.

“More than 60 per cent of MAF veterans venture into entrepreneurship after retirement. Therefore, through LTAT, we provide them with opportunities to enhance their knowledge, particularly in financial management, business operations and other aspects related to entrepreneurship, to help boost income and achieve long-term financial sustainability.

“Following the success of the first phase, we will proceed with the second phase this year, involving 35 new MAF veteran entrepreneurs in collaboration with the Armed Forces Ex-Servicemen Affairs Corporation (PERHEBAT),” he told reporters after attending the graduation and launch ceremony of the LTAT Hero Entrepreneur Empowerment Programme 2.0, held in conjunction with the LTAT Hero Roadshow 2025 at the Butterworth Air Base here today.

Also present was LTAT chief executive Mohamad Ashraf Md Radzi.

Elaborating further, Adly said the new phase combines six months of digital and physical coaching sessions focusing on financial literacy, innovation and market access to strengthen veteran-owned enterprises, particularly in the northern region covering Perlis, Kedah, Penang and Perak.

He added that the participating entrepreneurs were involved in various business sectors, including food and beverage, retail and manufacturing.

Meanwhile, Mohamad Ashraf said the Hero Entrepreneur reflects LTAT’s commitment under the MADANI Economy framework to expand financial inclusion and drive balanced economic growth through entrepreneurship.

“The success of this programme proves that economic empowerment and social progress can go hand in hand within an integrated ecosystem,” he said.

--BERNAMA