KUALA LUMPUR, Jan 17 (Bernama) -- The Armed Forces Fund Board (LTAT) has declared a 14 per cent dividend and bonus for 2010 with a total payout of RM616.3 million, 7.2 per cent higher than the RM575.2 million paid in 2009, said Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi.
The payout comprises a seven per cent dividend, a one per cent bonus and a special bonus payment of six per cent in the form of unit trusts.
For the year under review, LTAT registered an unaudited total income of RM747.5 million, which was not only the highest recorded since the fund's establishment 38 years, but was also 34.7 per cent higher than 2009's income of RM554.7 million.
Zahid, pleased with LTAT's performance and the fact that it had maintained a stellar record, was confident the fund would continue its performance streak in line with the growth of the national economy and the excitng developments taking place in Asia.
LTAT's total assets as at Dec 31, 2010 increased 1.3 per cent to RM7.6 billion compared with RM7.5 bilion in 2009.
Member's contributions in 2010 stood at RM6.7 billion against RM6.3 billion recorded in the previous year.
"Moving forward, I am confident that LTAT will be able to improve on its present good performance in the future based on its strengths and in view of the government's various incentives and drive to further expand and grow the economy," Zahid said.
He said LTAT would continue with the restructuring of its existing investment with the view to unlock value and enhance returns from these investments while explore and participate in new investment opportunities in the the market.
During the year under review, LTAT paid out a total of RM677.4 million to 6,500 retired members and RM23.2 million to 4,297 members who were eligible to purchase a residential house or land to build a house under the housing withdrawal scheme.
-- BERNAMA
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