Investors on the prowl for LTAT assets
Emmanuel Samarathisa | 04 Oct 2019 00:30
Investors are circling Lembaga Tabung Angkatan Tentera’s (LTAT) prized listed holdings even as the armed forces fund is trying to march forward in shedding problems left behind by previous CEO Tan Sri Lodin Wok Kamaruddin, say people familiar with the matter.
Certain buyers with strong political connections have expressed interest in recent months about a potential take- over of three LTAT units: Boustead Heavy Industries Corporation Bhd (BHIC), Boustead Plantations Bhd (BP) and Pharmaniaga Bhd.
This clutch of companies have been deemed profitable. BHIC has a concession with the Defence Ministry for the procurement and maintenance of defence vessels. BP, while struggling with depressed crude palm oil prices, owns land banks in strategic areas. And, Pharmaniaga has been the concessionaire for the supply of drugs to government healthcare providers.
Download and read more in the latest issue of Focus Malaysia here: