PETALING JAYA: The negative reserve highlighted in the Auditor-General's Report for 2022 is only one facet, says the Armed Forces Fund Board (LTAT).
PETALING JAYA: The negative reserve highlighted in the Auditor-General's Report for 2022 is only one facet, says the Armed Forces Fund Board .
"The OCI reserve comprises the accumulated unrealised gains/losses of assets tagged as fair value through other comprehensive income, reflecting market fluctuations and asset performance," the LTAT said in a statement on Friday . The LTAT then said that the unaudited post-dividend combined reserve for Financial Year 2023 will see further improvement, reflecting LTAT's commitment to its transformation journey towards strengthening its financial position."With regards to the issue of non-cash profit contributing to our income for FY22, the exclusion of it still maintains a position of solvency above the threshold required within our dividend policy," it added.
"LTAT is committed to transparency, accountability and the wellbeing of the contributors and beneficiaries and will continue to uphold the highest standards of governance and financial management to safeguard the interests of all stakeholders," the board added.
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