KUALA LUMPUR: Defence Minister Datuk Seri Mohamed Khaled Nordin today says he is ready to provide an explanation over the negative reserve balance of the Armed Forces Fund Board (LTAT) to the Public Accounts Committee (PAC).
"Yes. I'll explain the matter to the PAC. They (PAC) did not say they would summon me, they said they might summon me," he told reporters after attending the Royal Military College (RMC) Passing Out Parade today.
On Thursday, PAC chairman Datuk Mas Ermieyati Samsudin said the committee would initiate proceedings on LTAT following the Auditor-General's (AG) Report 2022.
She said they would summon three former top leaders of the LTAT after Aidilfitri.
She also did not rule out the possibility of calling up the defence minister.
According to the AG report released last Wednesday, LTAT has been recording a negative balance in its reserve since 2020.
According to the report, the LTAT's reserve stood at RM0.376 billion in 2020 and RM0.285 billion the following year.
The report said the LTAT recorded RM0.338 billion last year.
The report also pointed out that there were 41 old share portfolios with an unrealised loss of RM0.662 billion yet to be taken action, which contributed to the negative balance of reserves.