KUALA LUMPUR: Defence minister Khaled Nordin today said that the resignations of three top officers in the Armed Forces Fund Board (LTAT) had not disrupted its operations.
Khaled said LTAT was operating as usual while two of the three positions had been temporarily filled.
“For the interim, the CEO position will be filled by (LTAT’s) chief financial officer, Ashraf Radfzi. For the chairman’s post, the duties will be carried out by the ministry’s secretary-general (Isham Ishak),” he told the Dewan Rakyat.
He was responding to Khlir Nor (PN-Ketereh) who asked about the measures taken by the ministry following the resignations of CEO Ahmad Nazim Abdul Rahman, chairman Raja Affandi Raja Noor and strategic asset allocation head Dayana Rogayah Omar.
Khaled said LTAT was still finalising its candidates for the posts, adding that it was not unconventional for these roles to be temporarily filled as the same thing had occurred in 2020 and 2021.
“The defence ministry is looking at the qualified candidates from among (the armed forces’) admirals,” he said.
Nazim was the first top LTAT official to resign, reportedly over the delay of an initiative to “reset” Boustead Holdings Bhd, which is wholly owned by LTAT.
A source told FMT that Nazim, who was appointed in June 2021, had drawn up key initiatives aimed at addressing LTAT’s RM3.5 billion debt and its dividend-trap structure, involving “delayering” Boustead Group and overhauling its governance and operating models.
However, the proposed revamp stalled after Khaled, who was appointed as defence minister in mid-December as part of a Cabinet reshuffle, asked for the plan to be put on hold.
