LTAT makes record payout of RM818.2m in dividends, bonuses

by **Cals** Fri 07 Feb 2014, 15:48

Business & Markets 2014

Written by Surin Murugiah of theedgemalaysia.com

Friday, 07 February 2014 15:01

KUALA LUMPUR (Feb 7): Lembaga Tabung Angkatan Tentera (LTAT) or the Armed Forces Fund Board recorded a new record high in payout of dividends and bonuses for eligible members for its financial year ended Dec 31, 2013 when it made payout of RM818.2 million in dividends and bonuses.

LTAT also registered an unaudited total income of RM966.5 million, an increase of 19.1% compared with last year’s income of RM811.6 million.

In a statement Friday, LTAT said that as a result of its achievements, eligible members would receive total dividends and bonuses at a rate of 16% amounting to RM818.2 million, a 7.8% increase compared with RM759.3 million paid out in 2012.

LTAT said the 16% dividend and bonus comprise of 7% dividend, 1% bonus and 8% special bonus in the form of unit trusts for active members.

It added that the average yearly dividend and bonuses paid out for the past 41 years was 11.2% per annum with an average of 15.4% for the past 10 years and 15% for the last five years.

The fund said that as at Dec 31, 2013, its total assets increased by 5.8% to RM9.1 billion compared with RM8.6 billion in the previous year while members’ contribution stood at RM8.3 billion compared with RM7.8 billion last year.

Defence Minister Datuk Seri Hishamuddin Tun Hussein said LTAT’s consistent growth in its financial results over the years clearly reflected its commitment to its key stakeholder, the serving members of the armed forces.

He said given its track record and exceptional performance over the last 41 years, LTAT had outperformed itself in delivering strong yields.

He said this had resulted in improved dividends and bonuses payout, and the extensive range of financial support and corporate responsibilities initiatives undertaken for its members.

“LTAT’s strength lies in its determination to perform alongside the Government in Malaysia’s efforts to propel towards a well-developed nation.

“Based on LTAT’s strong track record, we are optimistic that LTAT will continue to seek new ways and means to further enhance value for its key stakeholders and in doing so will maintain if not achieve greater returns for the Fund while contributing to the country’s well-being,” he said.

For the year ended Dec 31, 2013, LTAT paid out a total of RM827.4 million to 6,169 members upon completion of their services with the armed forces and RM14.2 million to 2,073 members who are eligible to purchase a residential house or land under the Housing Withdrawal Scheme.

In addition, RM6.0 million was paid out to 237 members under the Death and Disability Benefits Scheme, of which, RM4.8 million was paid to 195 dependants of deceased members as death benefits while RM1.2 million was paid to 42 members as disability benefits.