KUALA LUMPUR: The Public Accounts Committee (PAC) will summon three former top leaders of the Armed Forces Fund Board (LTAT), following the Auditor-General's Report findings yesterday.
PAC chairman Datuk Mas Ermieyati Samsudin said former LTAT chairman Tan Sri Raja Mohamed Affendi Raja Mohamed Noor, former chief executive officer Datuk Ahmad Nazim Abd Rahman, and former senior director of strategy Dayana Rogayah Omar will be summoned along with any other relevant individuals or parties.
"The committee also does not discount the possibility of summoning the Defence Minister as the minister responsible for LTAT, as this is a critical issue involving the 122,935 contributors (as of March 13, 2023) who are made up of armed forces personnel.
"The PAC is deeply concerned about LTAT's financial position following revelations that LTAT's reserves are in the negative, raising questions about its ability to pay dividends to contributors," she told a press conference in Parliament today.
Mas Ermieyati added that the LTAT proceedings would be held after the Hari Raya Aidilfitri celebrations.
Yesterday, the 2022 Auditor General's report revealed that the LTAT had been recording a negative balance in its reserve since 2020
It said the LTAT's reserve stood at RM0.376 billion in 2020 and RM0.285 billion the following year. In 2022, the figure was RM0.338 billion.
The report also pointed out that there were 41 old share portfolios with an unrealised loss of RM0.662 billion, and action have yet to be taken on it.
LTAT has been hit with the departures of senior executives since Jan 31, when Ahmad Nazim resigned as CEO.
This was followed by Raja Mohamed Affandi (Feb 8) and Dayana Rogayah (Feb 19).
Meanwhile, Mas Ermieyati said the PAC would later summon the Federal Land Development Authority (Felda) and PR1MA Corporation, both flagged in the same Audtor General report released yesterday.
She said the PAC would table other reports on Universiti Teknologi Mara Holdings Sdn Bhd; Langkawi Development Authority (Lada) property development management; and the National Flood Forecasting and Warning Programme.
It would would also be tabling reports on the upgrading and reconstruction management of dilapidated schools; a follow-up action report on Covid-19 management, expired vaccines, unusable ventilator equipment and a surplus of personal protective equipment.
She said the PACC would also follow-up on the receipt and payment of social obligation bonds under the national rice industry management concession agreement.