PETALING JAYA: Former Armed Forces Fund Board (LTAT) chairman Raja Affandi Raja Noor said he was puzzled by defence minister Khaled Nordin’s insistence that he had retired, even though he had resigned from the post.
Raja Affandi said his resignation letter was rather straightforward, the New Straits Times reported.
“I don’t understand why it is being disputed, as I have resigned and stated the reasons,” he was quoted as saying.
Raja Affandi went on to say that out of respect for LTAT, he would not reveal the contents of the resignation letter that was also addressed to the defence minister and ministry’s secretary-general.
Last Thursday, LTAT announced the retirement of Raja Affandi from his position as the chairman.
However, a source close to the matter told FMT that he resigned due to a disagreement over the restructuring of the fund’s wholly-owned subsidiary, Boustead Holdings Bhd (BHB).
LTAT’s announcement of Raja Affandi’s “retirement” follows Ahmad Nazim Abdul Rahman’s unexpected departure as CEO on Feb 1.
Nazim resigned after a plan to “reset” BHB and its key enterprises was put on hold following the nomination of Khaled as defence minister on Dec 12.
The reset plan entailed delayering Boustead Group and overhauling its governance and operational models. - FMT
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