LTAT chairperson retires

Armed Forces Fund Board (LTAT) chairperson Raja Mohamed Affandi Raja Mohamed Noor has retired from the position effective today.

In a statement, LTAT said his tenure, which commenced in 2021, has been marked by an unwavering commitment to bolster the board’s corporate governance.

“His leadership has been instrumental in achieving significant milestones, notably securing approval for the amendment to the Tabung Angkatan Tentera Act 1973 (Act 101), aimed at fortifying LTAT’s corporate governance framework.

“During his stewardship, LTAT inaugurated the Investment Risk Policy & Guidelines, a pivotal measure ensuring the safeguarding of LTAT’s investments while optimising its risk-return profile,” it added.

Affandi’s resignation comes hot on the heels of chief executive officer Ahmad Nazim Abd Rahman’s departure last week.

Previously, Edge Malaysia quoted sources as stating that those involved in the restructuring of LTAT had been instructed not to proceed pending a review by new Defence Minister Mohamed Khaled Nordin.

Khaled had succeded Umno deputy president Mohamad Hasan following a cabinet reshuffle last December, which saw the latter being appointed as foreign affairs minister.

Meanwhile, the LTAT statement said Affandi had spearheaded the implementation of an organisational anti-corruption plan, “underscoring LTAT’s dedication to ethical practices and transparency”.

“Under his guidance, LTAT completed its Transformation Plan 2019-2023, positioning the organisation on a robust trajectory for future growth and sustainability,” it added.

Describing Affandi as a “visionary” leader, LTAT said his efforts strengthened the board’s foundations.

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