Another high-profile exit at LTAT

February 20, 2024

Another high-profile exit at LTAT

Dayana Rogayah Omar has served as LTAT’s head of strategic asset allocation since February 2020. (LTAT pic)

PETALING JAYA: The Armed Forces Fund Board’s (LTAT) strategic asset allocation chief, Dayana Rogayah Omar, has become the third high-profile resignation at the armed forces pension fund this month.

A spokesman for LTAT confirmed that Dayana, 39, has resigned to pursue other opportunities and is currently serving her notice.

Dayana, who also served as the pension fund’s senior director of strategy, was vice-president (investment) at sovereign wealth fund Khazanah Nasional Bhd before joining LTAT in 2020.

LTAT holds an 8.6% direct stake in pharmaceutical company Pharmaniaga Bhd, and in a Bursa Malaysia filing today, Pharmaniaga confirmed Dayana’s resignation as an alternate director effective Feb 14. Pharmaniaga is 52%-owned by Boustead Holdings Bhd, in which LTAT controls a 97.63% stake.

FMT has reached out to Dayana for comment.

Her resignation from LTAT follows the recent exits of its CEO, Ahmad Nazim Abdul Rahman, and chairman, Raja Affandi Raja Noor.

Raja Affandi, the former chief of defence forces, tendered his resignation to the defence ministry (Mindef) on Feb 7 following a disagreement in relation to the restructuring of the fund’s wholly owned subsidiary, Boustead Holdings Bhd (BHB), said a source close to the matter.

The week before that, Nazim resigned after an initiative to “reset” BHB and its core companies was put on hold following the appointment of Khaled Nordin as the defence minister on Dec 12.

Khaled succeeded Mohamad Hasan, who was appointed the foreign affairs minister in a Cabinet reshuffle.

The reset plan involved a delayering of Boustead Group and an overhaul of its governance and operating models, a source told FMT.