In what investments did LTAT lose RM120 million, Rafizi asks

In what shares did the Armed Forces Fund Board (LTAT) invest, that it made an RM120 million loss, asked PKR vice president Rafizi Ramli.

Citing LTAT's 2016 financial report, Rafizi said the board had recorded an RM120 million share impairment.

However, he said it was not clear what companies did the board invest in.

"It's a shame because their revenue for 2016 (RM811 million) was higher than in 2015 (RM767 million), and if it were not for the RM120 million loss, they could be paying higher dividends," Rafizi told Malaysiakini.

LTAT paid out a combined dividend and bonus of 12 percent to its contributors for 2016, the same rate it had paid out in 2015.

In a statement on the matter, Rafizi said he had filed a parliamentary query to determine which companies LTAT had made a loss in, but that he has yet to get a reply.

The last Dewan Rakyat session ended on Aug 3. A compilation of written replies to questions that could not be asked on the House floor due to time constraints is usually issued within a month after the last sitting. - Mkini

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