PETALING JAYA: The Armed Forces Fund Board has recorded negative balances in its reserves since 2020, the Auditor-General’s Department has found after inspecting the accounts of federal agencies for 2022.
The report added that LTAT did not provide investment impairments in Boustead Holdings Bhd and Pharmaniaga Bhd, amounting to RM768mil and RM44mil respectively. “LTAT also reported an increase in a nett profit of 13.1% or RM50mil to RM433mil in 2022, compared to RM383mil in profits the previous year . The report also flagged LTAT for paying dividends to contributors from non-cash profits which could cause a liquidity risk in future.
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