LTAT total profits surpass RM1b

PETALING JAYA: Lembaga Tabung Angkatan Tentera (LTAT) or the Armed Forces Fund Board registered an unaudited total profit of RM1.014 billion, an increase of 4.9% compared with last year's RM967 million, surpassing the RM1 billion mark for the first time in its 42 year history.
Eligible members will receive total dividends and bonuses at a rate of 15% amounting to RM835.1 million, a 2.1% increase compared with RM818.3 million paid out in 2013. The 15% dividend and bonus comprise of 7% dividend, 1% bonus and 7% special bonus in the form of unit trusts for active members.
As at Dec 31, 2014, LTAT's total assets increased by 2.2% to RM9.4 billion compared with RM9.2 billion in the previous year while members' contribution stood at RM8.7 billion compared with RM8.3 billion last year.
For the year ended Dec 31, 2014, LTAT paid out a total of RM985.8 million to 7,031 members upon completion of their service with the armed forces and RM18.8 million to 2,568 members who are eligible to purchase a house or land under the Housing Withdrawal Scheme.
In addition, RM7.1 million was paid out to 244 members under the Death and Disablement Benefits Scheme, of which, RM5.3 million was paid to 195 dependants of deceased members as death benefits while RM1.5 million was paid to 49 members as disability benefits.
To date, 64,067 children of serving and retired army personnel received incentives and scholarships amounting to RM61.7 million for their excellent academic achievement, through various programmes initiated by LTAT and Yayasan Warisan Perajurit (YWP) which was established by the LTAT Group of companies led by Boustead Holdings Bhd.
For the year under review, scholarships and allowances totalling RM5.7 million were awarded to 5,716 children of serving armed forces personnel who performed well in their school examinations. Additionally, YWP contributed RM3.3 million to deserving member/widow of the Ex-Servicemen Association of Malaysia. For the year 2014, 63 recipients received total assistance of up to RM253,000 under this programme.
For the year under review, LTAT and its group of companies contributed RM1.9 million to the Ex-Servicemen Association Malaysia (PBTM) and the Armed Forces Welfare Fund for various community, sports and festive activities including the National Warrior Day Fund and donation for Hari Raya. As at to date, LTAT and its Group of Companies as well as YWP contributed RM168.0 million for various scholarship and financial assistance to eligible serving and retired members of the armed forces.
Under its affordable housing programme, LTAT through its wholly-owned corporation Perbadanan Perwira Harta Malaysia (PPHM) and its group of companies, built and sold 1,650 affordable houses in Mutiara Rini in Johor, Mutiara Damansara in Selangor as well as Taman LTAT Bukit Jalil in Kuala Lumpur to serving and retired members of the armed forces. Currently, LTAT and its group of companies are building 1,068 units of medium cost houses and 580 units PR1MA affordable houses in Bukit Jalil, Kuala Lumpur and 748 units of double storey, semi-detached houses as well as 307 units of double-storey link houses in Mutiara Rini, Johor, to be offered for sale to eligible members of the armed forces.
Perbadanan Hal Ehwal Bekas Angkatan Tentera (Perhebat), a subsidiary corporation of LTAT has successfully trained 8,630 retiring and retired armed forces personnel in various skills and entrepreneurial programs to enable them to take up a second career post retirement from the armed forces. To date, Perhebat has trained 184,344 retiring and retired personnel of the armed forces in various skills and entrepreneurial programs.