FMT:
Mara Inc looking to
prevent further losses, says
Zahid
Rural and regional development minister Ahmad Zahid Hamidi says the process will take some time but must be resolved.
PASIR MAS: The rural and regional development ministry will resolve Mara Inc’s RM286 million loss highlighted in the auditor-general’s 2024 report and ensure it does not recur, its minister, Ahmad Zahid Hamidi, said.
Zahid, who is also the deputy prime minister, said although the process of recovering these losses will take some time, he will ensure there is no breach of trust, misappropriation or abuse of power.
“Mara Inc’s losses have been occurring since 2012, and I will find ways to resolve this issue to prevent it from recurring.
“We are not looking to place blame, but the reported losses were due to bad and excessive investments because several assets purchased abroad exceeded market prices,” he told reporters here today.
Yesterday, Mara director-general Azhar Abdul Manaf said the accumulated losses from 2012 to 2022 partly involved the purchase of assets abroad, particularly in Australia and the UK, between 2012 and 2014.
According to the A-G’s report tabled in the Dewan Rakyat on Thursday, the total accumulated losses borne by Mara Inc decreased by 3.8% – from RM298 million in 2021 to RM286 million in 2022.
This contributed to an improved financial performance of the group, which recorded a pre-tax profit of RM11.7 million for 2022.
Another wayang kulit
ReplyDeleteThose stole the money will NEVER be sent to jail
Just because they are night soil
Remember the creation of the Mara Digital after the race-laced debacle at Low Yat Plaza, KL in 2015? The then PM who thought that he must be a genius, instantaneously saw the need to help the Bumiputeras, to handle their grievances and to counter others' control of the trade. The KL Mara Digital started to be followed by a few more all over the country.. Did they amass profits or incur losses? Should I care? And should they care if they incur RM10,000 or RM 100 million losses?
ReplyDeleteMara has been making losses since forever.
ReplyDeleteThe Government position was always that the Bumi agenda overrides any concerns about financial loses. The classic Social Agenda vehicle.
The problem is , Mara has also been failing badly in that direction.
Is that yr meeting understanding of the classic Social Agenda vehicle?
DeleteOr u just fart about the ketuanan narratives?