KUALA LUMPUR (Oct 11): The Armed Forces Fund Board (LTAT) has welcomed the 12% increment in the allocation for the Ministry of Defence to RM15.6 billion in Budget 2020, from RM13.9 billion in Budget 2019.

“This increment bodes well for us, given that it provides opportunities to companies under the current LTAT stable that are key participants in the maritime sector, with current projects with the Ministry,” the board’s chief executive Nik Amlizan Mohamed said in a statement.