KUALA LUMPUR, March 4 — The Public Accounts Committee (PAC) has recommended that the Armed Forces Fund Board (LTAT) under the Defence Ministry (Mindef) improves its dividend policy, reserve guidelines and Strategic Asset Allocation (SAA) Framework.
PAC chairman Datuk Mas Ermieyati Samsudin in a statement today said with the move, LTAT will be able to continue to pay dividends consistently while ensuring LTAT’s sustainability.
She said PAC also recommends LTAT continue to diversify its investment portfolio composition as the majority of LTAT’s investment portfolio is concentrated within the Boustead Group.
“PAC has been informed that LTAT is reassessing the existing SAA Framework by focusing on risk management through diversified investments across asset classes, in line with the PAC’s recommendation to LTAT to diversify its investment portfolio composition and not rely on a single entity.”
She said PAC had not yet received the Boustead Group restructuring plan and was waiting for LTAT to submit the relevant documents once it was finalised.
She said the restructuring plan had been presented to the cabinet, Mindef, the finance minister II and the senior director of economy and finance at the Prime Minister’s Office.
Meanwhile, Mas Ermieyati said those interested in reading follow-up action by Mindef and LTAT, as well as PAC’s comments, can download the statement on the PAC website.
— Bernama
