KUALA LUMPUR: The Public Accounts Committee (PAC) will hold a press conference at noon today to present its report on the Armed Forces Fund Board (LTAT) after five months of proceedings.
The PAC started to look into LTAT after the 2022 Auditor-General (AG) Report flagged it for posting a negative balance in its reserve since 2020 which stood at RM0.376 billion.
In 2021, its reserve was RM0.285 billion and in 2022 the figure was RM0.338 billion.
The committee began its proceedings on the LTAT on June 20, summoning its former chief executive officer and former senior strategic director.
PAC chairman Mas Ermieyati Samsudin said the negative reserves raised concerns on LTAT's ability to pay dividends to its contributors.
She said that the proceedings was conducted based on Standing Order 77(1)(c).