KUALA LUMPUR: The Public Accounts Committee (PAC) has recommended that the Armed Forces Fund Board (LTAT) under the Ministry of Defence (MINDEF) improves its dividend policy, reserve guidelines and Strategic Asset Allocation (SAA) Framework.
PAC chairman Datuk Mas Ermieyati Samsudin in a statement today said that with the move, LTAT will be able to continue to pay dividends consistently while ensuring LTAT’s sustainability.
She said PAC also recommends that LTAT continues to diversify its investment portfolio composition as the majority of LTAT’s investment portfolio is still concentrated within the Boustead Group.
“PAC has been informed that LTAT is currently 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 is waiting for
LTAT to submit the relevant documents once it was finalised.
She said the restructuring plan had been presented to the cabinet, the Minister of Defence, the Minister of Finance II and the Senior Director of Economy and Finance, Prime Minister’s Office.
Meanwhile, Mas Ermieyati said the public who are interested in reading and examining every follow-up action by MINDEF and LTAT as well as PAC’s comments can download the statement on the PAC website at www.parlimen.gov.my/pac.
