PETALING JAYA: The Armed Forces Fund Board (LTAT) has announced the retirement of General (R) Tan Sri Raja Mohamed Affandi Raja Mohamed Noor as its chairman with immediate effect.
Datuk Ahmad Nazim Abdul Rahman has been appointed as chief executive officer of Lembaga Tabung Angkatan Tentera (LTAT).
KUALA LUMPUR: Datuk Ahmad Nazim Abdul Rahman has been appointed as chief executive officer of Lembaga Tabung Angkatan Tentera (LTAT) and it takes effect on Tuesday.
The armed forces fund said on Monday Nazim is taking over Datuk Seri Amrin Awaluddin who stepped down on April 30 to serve as the new group managing director and CEO of Lembaga Tabung Haji.
LTAT chairman, General Datuk Seri di-Raja Tan Sri Mohd. Zahidi Zainuddin (retired) said LTAT looked forward to his leadership of LTAT.
“In his role, Nazim will lead the transformation initiatives and steer LTAT towards a sustainable and competitive retirement fund for its stakeholders.
AFTER two deadline extensions, Lembaga Tabung Angkatan Tentera (LTAT) has decided to take its listed flagship group Boustead Holdings Bhd private, say sources. The armed forces fund has until Feb 2 to make up its mind on the proposed privatisation.
Sources with knowledge of the matter tell The Edge that instead of LTAT making a general offer, the privatisation of its 59.43%-owned subsidiary Boustead can be done via a selective capital reduction and repayment (SCR) exercise. The armed forces fund is also likely to raise its indicative price of 80 sen per share that was proposed in May last year.
“The offer price could potentially be more than 90 sen per share, or maybe even RM1 per share, taking into account the fact that the value of Boustead’s stakes in three public-listed companies Boustead Plantations Bhd (57.42%), Pharmaniaga Bhd (55.93%) and Affin Bank Bhd (20.73%) have increased over the past few months,” says a source.