KUALA LUMPUR (Oct 11): The Armed Forces Fund Board (LTAT) has welcomed the 12% increment in the allocation for the Ministry of Defence to RM15.6 billion in Budget 2020, from RM13.9 billion in Budget 2019.

“This increment bodes well for us, given that it provides opportunities to companies under the current LTAT stable that are key participants in the maritime sector, with current projects with the Ministry,” the board’s chief executive Nik Amlizan Mohamed said in a statement.

In addition, Nik Amlizan said the government’s move to expand the Bantuan Sara Hidup (BSH) scheme is good news for LTAT’s armed forces veterans.

“This timely measure will help our veterans better manage the rising cost of living,” she said.

LTAT is also pleased with the rent-to-own (RTO) financing scheme that was announced, as it will positively impact its ability to sell the remaining unsold condominium units owned by LTAT.

“Moreover, LTAT will be offering 2500 units of affordable homes in Taman LTAT Bukit Jalil to members of the Armed Forces in the coming fiscal year, which should also benefit from the RTO scheme.

“On behalf of our veterans, LTAT would also like to thank the government for acknowledging the heroism and sacrifice of our members of the armed forces who hold the Pingat Jasa Malaysia, with an allocation of RM35 million,” she said.