13/03/2026

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FRIDAY | MAR 13, 2026

LTAT declares 8-year high dividend of 5.35% for 2025

passengers. It carries stories, friendships, and sometimes even understanding. The world is a better place when people connect and chip away at ignorance, and as we have done for the past 25 years, come rain or shine, AirAsia will do our part,” he said. The Iran conflict has significantly disrupted airport operations globally, with thousands of Middle Eastern flights cancelled and airspace in the region closed after the United States and Israel launched strikes on Iran on Feb 28. According to news reports, some 27,000 flights to West Asia have been cancelled since the conflict began, affecting thousands of passengers. – Bernama BAuto announces higher Q3 revenue and pre-tax profit, 1.75 sen dividend PETALING JAYA: Bermaz Auto Bhd (BAuto) reported higher group revenue and profit before tax of RM683.2 million and RM59.6 million, respec tively, for the third quarter ended Jan 31, 2026 (Q3’26), compared to RM602.1 million and RM34.8 million, respectively, in the same quarter last year. Revenue rose by RM81.1 million (13.5%), largely due to higher sales volumes from its XPeng and Mazda domestic operations, particularly Mazda3, which continued to receive strong consumer response since its launch in October 2025. In line with the increase in group revenue, the group’s profit before tax increased by RM24.7 million (71%) for Q3’26. However, the increase was partly offset by higher share of losses from its associate company Kia Malaysia Sdn Bhd, which continued to be negatively impacted by retroactive fees (idle capacity costs) from lower than-anticipated CKD production volumes. The group also accounted for expenses relating to its employees share scheme, amounting to RM1 million in Q3’26, compared to RM1.3 million in the same quarter last year. For the nine-month period of FY26 (9M26), the group reported lower revenue and profit before tax of RM1.73 billion and RM106.9 million, respectively, compared to RM2.1 billion and RM189.7 million in the same period last year. Group revenue declined by RM364.1 million (- 17.4%), largely due to lower sales volume from its Mazda and Kia domestic operations in the first half of the current financial year. The decline in group revenue was, however, partly offset by higher sales volume from its XPeng domestic operations during Q3. In line with the decline in group revenue, profit before tax fell by RM82.8 million (-43.6%), attributable to the share of losses from its associate companies in the current period, compared with the share of profits in the same period last year. The group also accounted for expenses relating to its employees share scheme of about RM3.3 million in the nine-month, compared to RM5.3 million in 9M25. For Q3’26, the board has declared a third interim dividend of 1.75 sen per share as a single tier dividend in respect of the financial year ending April 30, 2026. The entitlement date has been fixed for April 21 and is payable on May 7. This will bring the total dividend declared to 3.75 sen per share for the financial period ended Jan 31 2026.

Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

o Armed Forces Fund Board displays resilience, delivers stronger investment income despite volatile global economy

KUALA LUMPUR: The Armed Forces Fund Board (LTAT) has declared a 5.35% dividend for the financial year ended Dec 31 2025, its highest payout in eight years, underpinned by stronger investment income and continued progress in its institutional transformation. The dividend was announced at an event officiated by Defence Minister Mohamed Khaled Nordin, who said the fund’s performance demonstrates resilience despite persistent global economic volatility. He said LTAT’s ability to deliver improved returns reflected sound management of the savings entrusted by members of the Malaysian Armed Forces. “In a global environment marked by economic uncertainty, LTAT has still managed to record encouraging achievements and announce a better dividend than the previous year,” Khaled said. “For the Ministry of Defence, ensuring that the savings of armed forces personnel are managed responsibly and generate sustainable returns remains a key priority.” LTAT chief executive Mohammad Ashraf Md Radzi said the fund recorded investment income of RM749.5 million in 2025, with distributable income amounting to RM541.5 million. The fund strengthened its financial position, with reserves rising to RM1.3 billion, up from RM1 billion a year earlier. Ashraf said the improvement reflected LTAT’s continued emphasis on disciplined investment strategies, stronger governance practices and the implementation of a multi year transformation agenda aimed at strengthening long-term sustainability. “LTAT remains committed to ensuring that every ringgit saved by members of the armed forces is managed with integrity so that it continues to grow and provide financial security for them and their families after service,” he said during the dividend announcement ceremony yesterday. Despite global economic headwinds in 2025, including geopolitical tensions, inflationary pressures and volatile financial markets, the fund maintained a stable performance through prudent portfolio management. LTAT is now entering the next phase of its strategic transformation by implementing its new five-year plan, GEMPUR30, which will

Khaled (centre) and Ashraf (right) at the event to announce LTAT’s 2025 dividend. – BERNAMAPIC

cessionaire for the logistics and distribution of medicines to Malaysian public hospitals, aligning with LTAT’s broader government linked investment portfolio. Beyond financial returns, LTAT said it is also focusing on initiatives to improve the welfare and financial preparedness of armed forces personnel. In 2025, the fund implemented financial literacy programmes that reached more than 50,000 military personnel, aimed at helping them manage their finances more effectively and plan for long-term financial security. Engagement initiatives such as Larian Wira LTAT (a night run) and Jelajah Wira (an engagement platform) drew strong parti cipation, attracting more than 18,000 participants, including over 8,500 members of the armed forces. At the same time, LTAT and its group companies channelled nearly RM3.2 million towards community and welfare programmes, including flood assistance, education initiatives and support for military families. The fund said these initiatives reflect its broader commitment to safeguarding the well-being of armed forces personnel, beyond simply delivering investment returns. Looking ahead, LTAT said it will continue to strengthen its investment strategy to ensure sustainable long-term returns for con tributors.

run from 2026 to 2030. The plan aims to strengthen LTAT’s investment portfolio while enhancing the performance of key companies within its ecosystem. Under the strategy, LTAT will focus on strategic sectors through its investment platform, including defence-related industries and property development initiatives that support the needs of military personnel. Through its group structure, particularly via Boustead Holdings Bhd, the fund intends to expand its role in strengthening the national defence industry ecosystem while also supporting the development of housing projects for members of the armed forces. The pharmaceutical sector has also been identified as a priority area, with LTAT working to restore the financial strength of its healthcare-related assets. Ashraf said the performance of Pharmaniaga Bhd has shown encouraging momentum in its recovery, with the company now on track to exit the financially distressed PN17 category in the near future. LTAT owns Boustead, which historically has been the largest shareholder of Pharmaniaga. Boustead has held around 47% of Pharmaniaga, while LTAT holds a direct stake of 7–9%, giving the LTAT group a combined major shareholding. Pharmaniaga has long been the con Fernandes emphasised that AirAsia remains resilient and fundamentally strong enough to weather the situation. “As I write, two wars are going on; wars we don’t even know why they have started and, worse yet, how they will end. But one thing is for sure. No matter what life throws at us – Covid 19, SARS, two wars – AirAsia is ready and fundamentally strong to weather this temporary storm,” he said. Fernandes stressed that there is significant uncertainty and volatility worldwide. “I’m a simple man, and I have always believed in something simple: the more people meet each other, the more they understand. The more they

Airlines feel ‘powerless’ amid global volatility but AirAsia resilient: Fernandes KUALA LUMPUR: Airlines feel “pretty powerless” at present amid escalating see eye-to-eye, literally, the harder it is to hate one another,” he added.

Fernandes said this belief was one of the core motivations behind the founding of AirAsia, which aimed not only to build a business but also to connect people. “It was about democratising the skies so the common man could travel, see and experience new cultures, and learn that the world is far bigger and more connected than what you see in the news.: Fernandes pointed out that airlines, trains, and technology are not just tools of commerce but also bridges between cultures. “Every flight that takes off carries more than

geopolitical tensions and volatile fuel prices, with little visibility on how the unfolding West Asia conflict will affect the aviation industry, said Tan Sri Tony Fernandes. The Capital A chief executive officer stated that “airlines are increasingly at the mercy” of political decisions made worldwide, while oil prices continue to fluctuate daily, creating significant uncertainty for the sector. “There is little visibility on how this will affect our businesses, with oil prices fluctuating by the day,” he said in a LinkedIn post yesterday. Despite the challenging environment,