PETALING JAYA, July 13 — Lembaga Tabung Angkatan Tentera (LTAT) today launched its Strategic Plan 2023 to 2025 (Sustainable25) along with its commitment to provide members with a competitive annual dividend of 5 per cent.

LTAT chief executive Datuk Nazim Rahman said the plan’s highlight was the element titled “Game Changer of Reset and Relist Boustead”.

He said it will allow LTAT to achieve goals such as recovering the cost of investment in Boustead, maintaining a solvency ratio of at least 100 per cent at all times, establishing a diversified portfolio through deconcentration in Boustead and growing Assets Under Management (AUM) to RM15 billion from its current RM9.3 billion.

“We have strengthened our foundation through the completion of many pivotal milestones including the amendment to Tabung Angkatan Tentera Act 1973 that put in place a robust investment and governance framework, establishment of various guidelines, and policies as well as resolving various issues including most recently, the successful takeover of our game changing asset, Boustead,” he said.

LTAT had successfully solved several legacy issues, including that of the littoral combat ships (LCS) project, he said.

Besides that, Sustainable25 will establish LTAT as a retirement fund manager, he added.

He explained that the plan comprises four thrusts: growth, which focuses on growing the fund to provide members with competitive returns; resilience, which protects the fund against potential headwinds; impact, which focuses on expanding members’ benefits; and trust, which centres on building the fund’s reputation to provide it with a positive institutional image.

The four thrusts come together to form the acronym ‘GRIT’, he said, adding that it encompasses the strength of character of LTAT.

“Strategy is easy, but execution is hard,” he said.

LTAT will continue to fulfil its duty of ensuring the welfare and social protection of members of the Armed Forces along with the Ministry of Defence, he said.

Also present at the event was Defence Minister Datuk Seri Mohamad Hasan, also known as Tok Mat, who emphasised that the money in the fund belonged to its members and not the fund’s managers.

“Do not betray their trust. This is their money. It is from their sacrifice and sweat.

“It must be managed in the best way possible,” he said.