KUALA LUMPUR: I did not mention it but someone did and its obvious that even if we lacked the money, the PV second batch would probably get the nod in the official Tenth Malaysian Plan.
Its not that its the sole locally sourced defence item but theres other forces in hand that will tilt towards the project although RMN continue to have misgivings about the first batch. Its a pity really, we could have done better but spending around RM6 billion for a batch of lemons is simply pathetic. The prospect of spending another RM6 billion for another six is ridiculous even it is for the right reasons….
From Bernama.
LTAT To Pay Out RM597.9 Mln In Dividends, Bonus
KUALA LUMPUR, March 13 (Bernama) — Lembaga Tabung Angkatan Tentera (LTAT) will pay out a dividend of seven percent, three percent bonus and an additional six percent special bonus in the form of trust shares to active unitholders for the year 2008.
Prime Minister Datuk Seri Abdullah Ahmad Badawi today said the total dividends and bonus paid for the year will amount to 16 percent, which will be equivalent to the year before.
Abdullah, who is also Defence Minister said that the payment to be made will amount to RM597.9 million, or 8.3 percent higher than the RM552.2 million the year before.
For the year ended Dec 31, 2008, LTAT’s gross profit was up 2.3 percent at RM631.4 million compared with RM616.9 million in 2007.
“This achievement is the highest since the Asian financial crisis in 1997 and the second highest since LTAT was set up with the earlier achievement of RM697.6 million seen in 1996,” he said in a statement here today.
LTAT’s total accumulated assets as at December 31 last year meanwhile increased by eight percent to RM7.2 billion and contributor funds stood at RM4.8 billion with a total of 116,000 contributors.
Abdullah said LTAT recorded a commendable performance despite an uncertain year due to the global economic downturn.
“This shows that the government’s policies and actions to counter the economic downturn have had given some positive effects to the country’s economy.”
He said the performance was also due to LTAT’s strategic and careful investments as well as its prudent management.
At group level, its pre-tax profit for the year ended Dec 31, 2008 was RM1.4 billion, similar to the previous year’s achievement.
Apart from the profit from LTAT’s own operations, the profit also came from its agencies and subsidiary companies.
Abdullah said LTAT has been able to provide various benefits and facilities to contributors.
These include the e-Kiosk for contributors to get their account details, a contribution of RM3.8 million to 4,476 children of the members of the Armed Forces of Malaysia and the repayment of contributions amounting to RM492.7 million to 4,609 contributors who had completed their services and housing withdrawals amounting to RM16.2 million to 2,984 contributors.
LTAT also paid out RM4.5 million under the Death and Loss of Ability Scheme, contributed RM395,950 as incentives for excellence in education for 562 children of members of the Armed Forces successful in their PMR and SPM, and also contributed RM270,000 to the Ex-Servicemen Association Malaysia as contribution for the Hari Pahlawan 2008 campaign fund.
Besides that, LTAT also gave a financial assistance of RM248,912 through the Yayasan Warisan Perajurit to 66 disabled ex-servicemen; offered low cost and medium cost housing to qualified members of the armed forces; and contributed RM75,000 to Tabung Kebajikan Angkatan Tentera for Hari Raya gift packages for armed force members on duty during the Hari Raya Aidilfitri celebrations.
— BERNAMA
–-Malaysian Defence
If you like this post, buy me an espresso. Paypal Payment
View Comments (14)
Something totally off topic here - The 'Dili Insider' has reported that 32 Handalans were donated to E. Timor in 2005 and 200 HK33s in 2004. It appears that the HK33s ended up in the hands of the mutiners. There is also mention of Deftech testing an AFV there. I believe its the AV4.
Anyone knows what the ROMAN DIFAS [Pestaka Astana] lorries are used for?
Marhalim: Yes, Deftech donated the trucks and in DSA 2006 they signed an MOU with the East Timorese for the upkeep. I do not know the current status of the Roman Difas trucks at the moment but I have seen a few dumped at the Sg Besi camp motor pool a few years back. Some of Astana pestaka trucks I believe is used as the tractor for the Jernas system.
At least the current arrangement is better than the old arrangement.
Was going through some old DSA 2007 write ups. Came across something about SME getting a contract for 150,000 grenades. Anyone know if these are a local version of a foreign design?
Even if those six are "lemon" and which i agree they are. I would rather for the 2nd batch to be coninued rather that the 2 Jebat figate 2 at sabah shp yard. That will be another bigger mess. At least Bousted have proven themselves capable of salvaging the projects that was bludgeoned to death by the previous owner of PSC. Plus it already gone through the growing pain and the necessary infrastructure in terms of vendor and support line (though they may be cronies).
We still have tiga tigas? I thought they were all sold to the US as parts kits.
Just read the January Airforces Monthly
MMEA AW139 heli's X3 confirmed buy - More than 200Mil USD
Proposed 12X Cougar for TUDM - 477Mil USD
Each MMEA heli cost as much as 2 Cougars and no one makes a fuss about it.
It seems that MMEA buys is not even scrutinised by the parliment...
Marhalim: Otherwise they wouldnt have got the CL-415....
Some small arms questions....
Why were the HK33s unpopular?
Not sure if true but heard that Bereta rifles were issued in the 70s orearly 80s?
What was offered to replaced the Steyr besides the M4? Where trials conducted?
Marhalim: I love the 33s as it was the first AR I ever fired, it was tough to charge however for a 15 year -old scrawny kid. I do not know whether it was because it was unpopular or not or it was to do with the arrival of the M16A1s. on the Beretta AR, one pristine example is displayed at the Askar Melayu muzium at PD. I asked the caretaker when it was issued, the answer was in the late 70s to replace the SLR. My father who was in the Askar Melayu also cannot remember when exactly the Beretta was issued or whether it was replaced first by the HK first before they switched to the M16s.
As far as I know there was no RFI/RFP to find the replacement of the Steyr. I believe it was a proposal made by SME which was sweetened by the local production. There was a trial conducted after the announcement of the decision to go with the M4 after DSA 2006.
The grenades are Hirtenbergers AFAIK.
Any information regarding free fall ordnance carried by the Hawks and Hornets? The Skyhawks had the M-20 Rockeye, but I'm not sure if the photo of a CBU being released by a Hawk 200 is an M-20.
At the ATM expo, there was a retarded version of the Mk82 for the Hornet. Since the Hornets entered service, numerous reports have included the Paveway 2 as being bought. Though no photo of the Paveway has been released we know that PASKAU has laser designators and that Pakistan received a Malaysian order for 20 laser designators at DSA 08.
Only about 7000 Berettas were acquired before it was decided to go with the 33 so they were never universal. M4 was direct nego with SMEO and used the final tranche allocated for the AUG after the SMM debacle.