KUALA LUMPUR: The Armed Forces Fund Board (LTAT), which announced a five per cent dividend for the financial year 2023 (FY23), has seen substantial advancements in its financial performance over the past five years, its chief said.
Ashraf Radzi, the chief executive officer of LTAT, attributed this enhanced performance to several initiatives aimed at bolstering the fund's sustainability.
These efforts include active portfolio rebalancing exercises, strengthening talent reserves, prudent management practices, and strategic foresight, he said.
"We remain dedicated to delivering robust financial results and providing enduring value to our stakeholders.
"The social protection and well-being of our contributors will always be our core priorities, driving every decision and initiative we undertake at LTAT," he said in a statement today.
Ashraf highlighted that in 2023, LTAT reached several key milestones that played a crucial role in elevating its overall performance.
These milestones encompassed the introduction of the LTAT Strategic Plan 2023-2025 (MAMPAN25), which serves as a strategic blueprint guiding its journey towards achieving the vision of becoming "a sustainable provider fund" through a series of initiatives.
LTAT announced a dividend of five per cent for the financial year 2023 (FY23), with a total payout of RM485.08 million compared to RM476.45 last year. The dividend was distributed to a total of 123,380 contributors.
For 2023, LTAT recorded an improved year-on-year (YoY) performance for the key financial indicators.
Total income of RM738.02 million, an increase of 13 per cent against the preceding year, was mainly attributed to contributions from public equity and private equity investments, and is represented by all-cash income.
The net profit of RM537.80 million represents more than a 24 per cent increase as compared to RM432.47 million in 2022.
LTAT also recorded RM756.81 million in retained earnings (post-dividend) for the year under review, which marks a significant increase of 52 per cent as compared to 498.65 million in the preceding year.