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Lembaga Tabung Angkatan Tentera (LTAT), the pension fund for Malaysia's armed forces, has declared a dividend of 5.25% for 2024, marking the highest payout in seven years. This translates to a total distribution of RM514.2 million, which represents 87.5% of the fund's net profit. The dividend will be credited to the 125,014 contributors’ accounts on Friday.
Key Performance Highlights:
Net Profit: LTAT reported a 24% increase in net profit, amounting to RM587.5 million.
Total Income: The fund saw a 2.5% rise in total income, reaching RM752.6 million in 2024.
Assets Under Management: LTAT’s assets grew by approximately 4%, bringing the total to RM13.6 billion.
Reserves: The fund’s reserves surged by an impressive 161%, now standing at RM1.01 billion. This marks the third consecutive year of LTAT’s reserves more than doubling.
Strategic Plans:
LTAT’s Chief Executive Officer Mohammad Ashraf Md Radzi highlighted that the fund will focus on accelerating its restructuring efforts and addressing risks related to overconcentration in its portfolio. The proceeds from LTAT's investments will be strategically allocated into liquid assets, ensuring the fund aligns with global best practices in fund management.
This strong performance underscores the resilience of the domestic economy, with 100% of LTAT's investments being domestic. The fund’s commitment to prudent management and continued growth remains a priority moving forward.
LTAT’s strategic initiatives and robust performance place it in a strong position to continue supporting the financial security of Malaysia's armed forces personnel.
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