PM gives LTAT, Felda 2 weeks to explain what ails them

PUTRAJAYA: The prime minister has given the Armed Forces Fund Board (LTAT) and the Federal Land Development Authority (Felda) two weeks to explain their shortcomings highlighted in the 2022 Auditor-General's Report.

Datuk Seri Anwar Ibrahim said the two agencies had been instructed to submit reports to him.

"Yes, notices have indeed been issued for explanations and full details from LTAT (and FELDA), even though this matter is from the 2022 audit.

"I request the report. We give them notice of at least two weeks to submit a full report, and then the Cabinet will discuss it," he said.

Anwar was speaking after performing Friday prayers at the Surau Amaniah, Putrajaya district police headquarters today.

The auditor general had flagged LTAT over its diminishing investment returns in two subsidiaries.

Datuk Wan Suraya Wan Mohd Radzi also flagged LTAT's decision to pay dividends derived from non-cash profits to contributors.

The AG also found that LTAT had been recording a negative balance in its reserves 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.

AG also raised concerns about Felda, which saw its net loss increasing to RM1.005 billion in 2022, from 2021's RM545 million.

It was revealed that Felda's outstanding loans from external institutions amounted to RM8.659 billion, a slight decrease from RM8.809 billion in 2021.

Asked whether there was a need for a special committee to investigate the issue, Anwar said the AG's report will be examined first before allowing the relevant ministries and agencies to provide explanations.

"What's important is that we need to 'stop the rot', the shortcomings and weaknesses," he said.

Earlier, the prime minister, wearing a blue Baju Melayu, performed Friday prayers with a congregation of more than 100, including police officers and residents, at the Surau Amaniah IPD Putrajaya.

He was accompanied by Home Affairs Minister Datuk Seri Saifuddin Nasution Ismail, Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Moktar, and Inspector-General of Police Tan Sri Razarudin Husain.

After performing Friday prayers, the prime minister had lunch at the surau.

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