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THE Armed Forces Fund Board (LTAT) has declared a 5.25 per cent total distribution for 2024, marking its highest payout in seven years.
The distribution includes a five per cent dividend and a 0.25 per cent bonus, totalling RM514.2 million, an increase from RM485.08 million in the previous year, Bernama reported today.
Defence Minister Datuk Seri Mohamed Khaled Nordin said the payout would benefit 125,014 contributors, all of whom are members of the Malaysian Armed Forces (ATM).
"This marks the third consecutive year that LTAT has maintained a five per cent dividend, demonstrating strong recovery, sustainable performance, and financial stability," he remarked at the LTAT 2024 Dividend Announcement Ceremony.
The dividend for the financial year 2024 will be credited to contributors' accounts on March 28, 2025. Contributors can view their statements through the MyWIRA mobile app or by visiting LTAT's official website.
LTAT's Chief Executive Officer, Mohammad Ashraf Md Radzi, highlighted the organisation's robust financial performance, noting year-on-year improvements across all key performance indicators.
For the 2024 fiscal year, LTAT reported a total revenue of RM753 million, up 2.5 per cent from the previous year.
"This growth is a result of our strategy of asset diversification and stronger returns from strategic investments, reflecting our disciplined portfolio management and commitment to sustainable growth," Ashraf stated.
The fund's net profit surged 23.7 per cent to RM588 million for FY2024, supported by strong revenue growth and effective cost management.
Since 2022, LTAT's net profit has consistently exceeded RM400 million annually, further bolstering its accumulated income.
LTAT's accumulated reserves increased by 160 per cent year-on-year, reaching RM1.01 billion during the review period.
"This performance underscores the resilience of Malaysia's domestic economy, with 100 per cent of LTAT's investments being in the local market," Ashraf explained.
"It also reflects the positive impact of government policies on regulation and development, which have created a stable investment and business environment."
In a separate announcement, LTAT revealed the selection of five military camps under the 'Kem Santuni Madani' initiative, launched in collaboration with LTAT Group companies.
The programme aims to address challenges faced by these camps, including infrastructure improvements, financial empowerment initiatives, and community support programmes. – March 27, 2025
