Lembaga Tabung Angkatan Tentera (LTAT) will pay out a dividend of seven percent, three percent bonus and an additional six percent special bonus in the form of trust shares to active unitholders for the year 2008.
Prime Minister Datuk Seri Abdullah Ahmad Badawi today said the total dividends and bonus paid for the year will amount to 16 percent, which will be equivalent to the year before.
Abdullah, who is also Defence Minister said that the payment to be made will amount to RM597.9 million, or 8.3 percent higher than the RM552.2 million the year before.
For the year ended Dec 31, 2008, LTAT's gross profit was up 2.3 percent at RM631.4 million compared with RM616.9 million in 2007.
"This achievement is the highest since the Asian financial crisis in 1997 and the second highest since LTAT was set up with the earlier achievement of RM697.6 million seen in 1996," he said in a statement here today.
LTAT's total accumulated assets as at December 31 last year meanwhile increased by eight percent to RM7.2 billion and contributor funds stood at RM4.8 billion with a total of 116,000 contributors.
Abdullah said LTAT recorded a commendable performance despite an uncertain year due to the global economic downturn.
"This shows that the government's policies and actions to counter the economic downturn have had given some positive effects to the country's economy."
He said the performance was also due to LTAT's strategic and careful investments as well as its prudent management.
At group level, its pre-tax profit for the year ended Dec 31, 2008 was RM1.4 billion, similar to the previous year's achievement.
Apart from the profit from LTAT's own operations, the profit also came from its agencies and subsidiary companies.
Abdullah said LTAT has been able to provide various benefits and facilities to contributors.
These include the e-Kiosk for contributors to get their account details, a contribution of RM3.8 million to 4,476 children of the members of the Armed Forces of Malaysia and the repayment of contributions amounting to RM492.7 million to 4,609 contributors who had completed their services and housing withdrawals amounting to RM16.2 million to 2,984 contributors.
LTAT also paid out RM4.5 million under the Death and Loss of Ability Scheme, contributed RM395,950 as incentives for excellence in education for 562 children of members of the Armed Forces successful in their PMR and SPM, and also contributed RM270,000 to the Ex-Servicemen Association Malaysia as contribution for the Hari Pahlawan 2008 campaign fund.
Besides that, LTAT also gave a financial assistance of RM248,912 through the Yayasan Warisan Perajurit to 66 disabled ex-servicemen; offered low cost and medium cost housing to qualified members of the armed forces; and contributed RM75,000 to Tabung Kebajikan Angkatan Tentera for Hari Raya gift packages for armed force members on duty during the Hari Raya Aidilfitri celebrations.
-- BERNAMA
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