Source From (The Sun Daily): http://www.thesundaily.my/news/289777
Published: on 09 February 2012
sunbiz@thesundaily.com
PETALING JAYA (Feb 9, 2012): The Malaysian Armed
Forces Fund (LTAT) has announced a record profit of RM862.7 million for
the financial year ended Dec 31, 2011 (FY11), its highest since its
inception 39 years ago.
This is an increase of 14.8% from the RM751.5 million profit in FY10.
Members will receive total dividends and bonuses at a rate of 15%,
amounting to RM680.4 million, compared with 14% in 2010, said LTAT.
"The payout comprising of 7% dividend, 1% bonus and 7% special bonus
in the form of unit trusts reflects an increase of 10% in total payout
compared with last year's RM616.3 million," the fund said in a statement
yesterday.
As at Dec 31, 2011, LTAT's total assets saw an increase of 5.3% to
RM8 billion from RM7.6 billion a year ago, while members' contribution
account stood at RM7.1 billion compared with RM6.7 billion.
Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi said the fund will
continue to look out for strategic investment opportunities in line with
its efforts to continue enhancing value for its members.
For FY11, LTAT paid out a total of RM705.7 million to 6,115 members
who retired and RM23.3 million to 4,034 members who are eligible to
purchase houses or land under the housing withdrawal scheme.
In addition, RM6.5 million was paid out to 267 members under the death and disability benefits scheme.
LTAT also increased its e-kiosk facilities to 77 units last year from
67 units in 2010. These are placed at major military camps throughout
the country.
LTAT, through its affordable housing programme, has also completed
and sold 1,650 homes in Mutiara Rini in Johor, Mutiara Damansara in
Selangor and Taman LTAT in Bukit Jalil, Kuala Lumpur to members of the
armed forces.
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