00:00Government-linked company Mara Inc. has incurred 286.3 million ringgit in losses due to inefficient
00:09business activities, according to the National Audit Department.
00:13The 2024 Auditor General's report revealed that Mara Inc.'s loan arrears have affected
00:18its net current liabilities position, preventing dividend payments to shareholders since its
00:23establishment in 2014.
00:25The company manages three local properties and six overseas properties, reporting an
00:29equity deficit of 115.73 million ringgit and current liabilities of 234.96 million
00:36ringgit.
00:37Mara Inc. also holds direct equity stakes in five subsidiaries but saw its investments
00:42suffer an 87.18 million ringgit impairment, a 54.8% decline in total value.
00:48Despite its goal of empowering the Bumiputra economy, the report said Mara Inc. has been
00:53unsatisfactory in returns and called for a review of its objectives and core property
00:57management activities.
00:59The report recommended that the Rural and Regional Development Ministry and Mara, the
01:03government agency, increase monitoring of subsidiaries like Mara Corp. and Mara Inc.
01:09Dhanesh Rajareza, FMT News.
Comments