How much unrealised loss is attributed to old stock portfolios?

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RM0.662 Billion in Unrealised Loss Attributed to Old Stock Portfolios

As of December 31, 2022, a significant unrealised loss of RM0.662 billion has been linked to 41 old stock portfolios that remain unaddressed. This financial burden directly contributes to the negative reserve status of the Armed Forces Fund Board (LTAT).
Unaddressed Old Stock Portfolios

The Auditor-General's Report identified 41 legacy stock portfolios within LTAT's holdings as of the end of 2022. These portfolios have not been dealt with, resulting in a substantial unrealised loss.
Contribution to Negative Reserves

The RM0.662 billion in unrealised losses from these old stock portfolios is a key factor exacerbating LTAT's negative reserve position. This situation has raised concerns regarding the fund's ability to meet its obligations to contributors.
LTAT's Financial Status Under Scrutiny

The Public Accounts Committee (PAC) has summoned LTAT for questioning due to its negative reserves. The committee plans to call in former top management, including the former chairman, chief executive officer, and senior strategic director, to understand the financial situation.
Broader Financial Concerns

LTAT's reserves have been in negative territory since 2020, with reported figures of RM0.376 billion in 2020, RM0.285 billion in 2021, and RM0.338 billion in 2022. The ongoing issue of unaddressed old stock portfolios and their associated losses is a critical component of these financial challenges.

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How much unrealised loss is attributed to old stock portfolios?

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