In line with the principle that ‘charity begins at home’, it is our responsibility as a caring and conscientious corporate citizen, that the educational, social and welfare efforts of the Boustead Group are first and foremost spearheaded towards our major shareholder, the members of the Malaysian Armed Forces and their families.
Towards this end, annual contributions to Yayasan LTAT, a foundation jointly established by Lembaga Tabung Angkatan Tentera (LTAT) Group of Companies and spearheaded by Boustead Holdings Berhad to assist in the education of children of Armed Forces personnel, are a top priority in our community outreach efforts. Since the foundation’s establishment in 2000, well over 65,000 children have benefitted from scholarships spanning various educational levels, ranging from primary, secondary to tertiary. In terms of total funds disbursed, the Boustead Group as at 2018 contributed in excess of RM64 million to this exceptionally worthy cause.
In addition to scholarships, we have implemented a unique and attractive scheme which provides Armed Forces personnel as well as their children with rebates to undertake courses at our very own prestigious institution, The University of Nottingham Malaysia.
Furthermore, being at the forefront of various sectors in the Malaysian economy and having a strong, diversified stream of earnings, the Boustead Group is able to support entrepreneurial efforts. To this end, we continue to work very closely with PERHEBAT, a wholly-owned corporation of LTAT which was established to offer various skills training programmes for retiring and retired Armed Forces personnel.
Over the last decade, we have assisted PERHEBAT establish various joint ventures with both local and foreign partners, with the aim of enhancing the quality and number of programmes offered by PERHEBAT. We are pleased to note that PERHEBAT has been quite successful in producing and training productive entrepreneurs among the retired Armed Forces personnel, capable of contributing to the Malaysian economy.
In addition, with housing being a significant requirement for the well-being of society, the Boustead Group takes great pride in providing quality and desirable low to medium cost homes at its premier property development projects, namely Mutiara Rini in Johor and Mutiara Damansara in Selangor. Once again, this tangible effort to elevate and improve the quality of life for the lower to middle class is directed primarily at members of the Armed Forces.
The Group also takes great care in ensuring that members of the Armed Forces who are in need of financial assistance are provided with monthly allowances. To date, Yayasan LTAT has provided various financial assistance worth more than RM4 million to 150 eligible ATM veterans and widows.
Meanwhile, as part of our efforts to reach out to the broader community, the Group has developed a 60-acre urban forest in Mutiara Rini, Johor for sports and other social activities. Within the same vicinity, Boustead has allocated land and contributed in excess of RM1 million for the construction of a mosque, as well as donating land for the construction of a Chinese school.