KUALA LUMPUR, November 19 — The Armed Forces Fund Board (LTAT) may lose RM5 billion, which is equivalent to 50 per cent of the board’s fund value if it does not revise its...
‘Mastermind’ Benny Tai gets 10 years as Hong Kong jails all 45 democracy activists in city’s largest national security caseIn a statement, Public Accounts Committee chairperson, Datuk Mas Ermieyati Samsudin underscored that overreliance on the Boustead group was unhealthy for LTAT, citing critical cash flow problems and numerous financial crises plaguing Boustead Berhad and its subsidiaries.
“This depreciation will not only make LTAT unable to pay dividends to contributors but could also cause LTAT to lose the RM5 billion fund,” she warned. However, on April 4 this year, Khaled assured that the Ministry was committed to carry on with the restructuring plan. PAC also called for an overhaul of Boustead Holdings taking into account the crises and scandals that have occurred under Boustead’s watch.
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