KUALA LUMPUR: The Lembaga Tabung Angkatan Tentera (LTAT) will pay out a 12 per cent dividend and bonus for the financial year ending Dec 31, 2016 (FY16).
This will involve a sum of RM685.5 million, said Defence Minister Datuk Seri Hishammuddin Hussein.
He said the payout comprised a six per cent dividend and six per cent special bonus in the form of unit trust for LTAT’s active members.
“I am very pleased with the results and performance achieved by LTAT for FY16 and hope this performance will be sustained and improved for the coming years to ensure that the welfare of the serving members and retired members of the Armed Forces is always protected”, he said in a statement today.
He said the rate declared was higher than the average yearly dividend and bonus of 11.3 per cent ever since LTAT was set up 44 years ago.
The dividends and bonuses to contributing members will be credited into their accounts starting today, he said.
He said LTAT's unaudited total profit rose 5.8 per cent to RM811 million in FY16 from RM766.8 million in FY15. For the year under review, the fund's total assets increased 2.2 per cent to RM9.5 billion from RM9.3 billion in the previous year, while members' contribution stood at RM8.6 billion compared with RM9.1 billion previously.
On LTAT's performance, Hishammuddin said the fund had provided various payouts, incentives and contributions to its members.
“For the year 2016, LTAT has processed 11,179 withdrawal applications from members upon completion of their service with the Armed Forces amounting to RM1.7 billion.
“In addition, RM15.9 million was paid out to 1,952 members who are eligible to purchase a house or land under the Housing Withdrawal Scheme,” he said.
Hishammuddin said, further to this, a total of RM7.5 million was paid out to 225 members or next-of-kin under the Death and Disablement Benefits Scheme. From that total, RM5.7 million was paid out to 170 dependants of deceased members as death benefits and a total of RM1.8 million was paid out to 55 members as disability benefits.
He added that last year, LTAT together with Yayasan LTAT, established by the LTAT’s Group of companies led by Boustead Holdings Berhad, also awarded scholarships and Academic Excellence Awards amounting to RM3.7 million to 4,172 children of serving and retired Armed Forces personnel for their excellent academic achievements.
“During the year, Yayasan LTAT contributed RM259,000 to 79 deserving members/widows of Persatuan Veteran ATM (PVATM),” he said.
In addition, Hishammuddin said LTAT and its Group of Companies also contributed RM1.6 million to PVATM and Tabung Kebajikan Angkatan Tentera for various welfare, sports and festive activities. This includes contributions for the National Warrior Day Fund as well as donation for Hari Raya.
Further to this, LTAT also distributed Zakat contribution of RM432,000 to Tabung Zakat ATM.
Hishammuddin said that as part of its commitment to providing affordable housing to eligible serving and retired members of the Armed Forces, LTAT through Perbadanan Perwira Harta Malaysia (PPHM), a wholly owned subsidiary of LTAT and in collaboration with the Perumahan Penjawat Awam 1Malaysia (PPA1M), is constructing 2,988 units of affordable houses in Taman LTAT, Bukit Jalil, Kuala Lumpur and 304 units of affordable houses in Bandar Segari, Perak.