KUALA LUMPUR: The Armed Forces Fund Board (LTAT) has launched a new strategic plan called MAMPAN25, which will guide them from 2023 to 2025. This roadmap aims to address economic challenges, protect the welfare of contributors, and facilitate the transformation towards a sustainable savings fund. Defence Minister Datuk Seri Mohamad Hasan highlighted that MAMPAN25 involves a restructuring and reassessment of their business plan, as they need to adapt to the rapidly changing corporate landscape.
MAMPAN25 focuses on four core pillars: Growth, Resilience, Impact, and Trust. Its main goal is to better manage the retirement funds of military personnel. “We cannot remain static in this fast-changing world. To stay relevant and competitive, we need to reposition ourselves and evaluate our business pillars and organizational structure,” said Mohamad.
The launch of MAMPAN25 also signifies LTAT’s commitment to maintaining the robust operation of the organization and its subsidiaries, while ensuring steady dividend returns for military personnel who contribute to their retirement funds. The Ministry of Defence (MINDEF) is closely monitoring LTAT and its subsidiaries to ensure the well-being of military personnel, as outlined in MINDEF’s core values.
Mohamad emphasized that MINDEF will not tolerate stagnation and unproductivity within organizations under its purview. Instead, they should work together towards a better future. The recent privatization of Boustead Holding by LTAT is seen as a restructuring process rather than an endpoint. Mohamad explained, “Taking a step back does not mean we are losing; it signifies our preparation to move forward. We have valuable assets, and unlocking their potential is part of our journey in LTAT.”
Meanwhile, LTAT’s CEO, Datuk Nazim Rahman, stated that MAMPAN25 demonstrates LTAT’s readiness to enter the next growth phase. They have solidified their foundation through key achievements such as amending the Armed Forces Fund Act 1973, formulating guidelines and policies, and resolving legacy issues. These accomplishments, including the takeover of Boustead, enable LTAT to move forward holistically and fulfill their responsibilities effectively.
Nazim believes that MAMPAN25, with its new vision, mission, targets, and strategies, will drive LTAT towards sustainable financial performance and make a positive impact on contributors, particularly the members of the Malaysian Armed Forces. Ultimately, this will contribute to the country’s economic development.
Credit: The Star : Business Feed
