KUALA LUMPUR: Lembaga Tabung Angkatan Tentera (LTAT) chief executive Tan Sri Lodin Wok Kamaruddin denied that the Armed Forces pension fund has withheld gratuity payment to its members as claimed.
"We are a stable group. Our business activities are quite diversified and we don't depend on one particular project or investment.
"Our cashflow has been really strong. We have sufficient cashflow to support our financial obligations that we need to make," Lodin told reporters after the Boustead Heavy Industries Corp Bhd annual general meeting here today.
Two days ago, Parti Keadilan Rakyat strategy director Rafizi Ramli claimed that LTAT was unable to make the gratuity payment to its non-pensionable veteran soldiers due to a deal between its subsidiary Perbadanan Perwira Hartanah Malaysia (PPHM) and 1 Malaysia Development Bhd (1MDB).
The related contract involved the moving and upgrading of eight air bases from the Sungai Besi airbase to the new location known as Bandar Malaysia, which PPHM took over from 1MDB.
On the payment terms of the contract, Lodin said 1MDB has been consistent with its payment to PPHM.
Asked if LTAT is pursuing with a legal suit against Rafizi, Lodin said the fund board will issue a press statement later today.