Lembaga Tabung Angkatan Tentera Pays 14% Dividends

Lembaga Tabung Angkatan Tentera (LTAT) will pay a dividend and bonuses of 14 per cent to eligible members for the financial year ended Dec 31, 2009.

In a statement, LTAT or the Malaysian Armed Forces Fund said the payout would consist of seven per cent in dividends, one per cent in bonus and six per cent in special bonus in the form of unit trusts, amounting to a total of RM575.2 million.

For the year under review, LTAT registered an audited total income of RM554.8 million compared with 2008's income of RM596.5 million.

At group level, LTAT chalked up a pre-tax profit of RM1.2 billion in 2009 compared with RM1.4 billion last year.

"The fund continued to deliver positive values to members and the result was a reflection of the fund's prudent management philosophy and its strategic investments in core assets.

"With the improving economic landscape, we expect LTAT to improve its performance in the foreseeable future," said Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi in the statement.

LTAT's total assets, year-on-year, increased 4.2 per cent to RM7.5 billion as at Dec 31 2009 while members' contribution account rose 8.62 per cent to RM6.3 billion.