Ltat Appoints New Chairperson Ceo After Spate Of Resignations

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The Armed Forces Fund Board (LTAT) finally announced the appointments of its new chairperson and chief executive, after a spate of resignations last month.
According to Bernama, the board announced the appointment of Azizan Ariffin as its new chairperson and Mohammad Ashraf Md Radzi as the new chief executive, effective April 1.
In a statement, LTAT said Azizan brings with him a wealth of experience and leadership acumen, having served with distinction in the armed forces for 40 years, including becoming the 17th Chief of Defence Force, the first from the air force.
"His extensive background in military affairs, diplomacy and leadership development will be instrumental in guiding LTAT towards its strategic objectives and enhancing its role in supporting the welfare of our armed forces personnel and their families," it said.
Meanwhile, LTAT said Ashraf will assume the role of chief executive. He previously served LTAT as its chief financial officer since March 2020.
LTAT chairperson Azizan Ariffin (left) and CEO Mohammad Ashraf Md Radzi"During his tenure, he demonstrated financial stewardship, spearheading the organisation's financial strategies and ensuring fiscal responsibility.
“His leadership contributed to the organisational transformation agenda, resulting in the recovery of dividend levels to a sustainable rate, enhanced financial position as well as improved operational effectiveness," it added.
LTAT was hit by a spate of resignations in less than a month after three senior officers withdrew from the establishment.
It started with the resignation of LTAT chief executive officer Ahmad Nazim Abd Rahman on Jan 31, which was followed by the quitting of its chairperson Raja Mohamed Affandi Raja Mohamed Noor on Feb 8.
Ahmad Nazim Abd RahmanOn Feb 19, LTAT's senior strategic director Dayana Rogayah Omar reportedly tendered her resignation.
LTAT initially claimed that Affandi had retired but the latter reportedly denied it, stressing that he had resigned. This was later confirmed by Defence Minister Mohamed Khaled Nordin.
The spate of resignations has raised questions on whether the entity, which manages the retirement funds of more than 120,000 armed forces personnel is being plagued by an internal crisis.
Besides that, the Auditor-General’s Report 2022 tabled in Parliament early this month, stated that LTAT’s reserves recorded negative balances for three consecutive years since 2020, namely RM0.376 billion, RM0.285 billion in 2021, and RM0.338 billion in 2022.
The Public Accounts Committee (PAC) said it would call up LTAT over the board’s financial situation after the Aidifitri celebration.
Prime Minister Anwar Ibrahim has also directed LTAT to submit full reports of its performances in the report.
Khaled explained that the Auditor-General’s Report 2022 that brought this issue to light only highlighted a single fund, whereas LTAT had three reserve funds, which collectively were in a positive position during the specified year. - Mkini

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