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Showing posts with label Majlis Amanah Rakyat (Mara). Show all posts
Showing posts with label Majlis Amanah Rakyat (Mara). Show all posts

Thursday, 28 November 2024

Mara bought overpriced properties - PAC

 

Mara Inc overpaid for London & Melbourne properties - PAC, Purchases also not approved by Finance Ministry.


KUALA LUMPUR: Overseas properties purchased by Mara Inc in 2013 and 2014 were overvalued, says the Public Accounts Committee (PAC).

PAC chairman Datuk Mas Ermieyati Samsudin said the purchases involved the Dudley International House, 51 Queen Street and 333 Exhibition Street in Melbourne, Australia, as well as Beaumont House in London.

“The purchases were not approved by the Finance Ministry.

“However, the Rural and Regional Development Ministry (KKDW) appealed the matter later, with it being brought before the Economic Council, which approved the purchases in 2013,” she said in a statement yesterday.

Mas Ermieyati said the matter is currently being investigated by the Malaysian Anti-Corruption Commission and also undergoing a court process.

“PAC recommends that KKDW, Majlis Amanah Rakyat (Mara), Mara Corporation Sdn Bhd (Mara Corp) and Mara Inc ensure that proposed investments both domestic and international – including high-value procurements like properties – comply with the latest government policies.

“Domestic investments should also be prioritised,” she said.

She said the recommendations were proposed following proceedings held on July 30, July 31 and Sept 19 this year.

According to the PAC report, Mara sold four properties between 2016 and 2018.

Three properties, namely 333 Exhibition Street in Australia, Ashley Hotel and Atelier Serviced Apartments in Britain were all sold for a profit.

'CLICK TO ENLARGE''CLICK TO ENLARGE'

However, the 51 Queen Street property, which has been flagged by PAC, was bought in May 2014 for RM70.43mil but was sold at a loss of RM5.30mil.

Dudley International House, meanwhile, generated a return of 38.7% between 2013 and 2023.

It was reported previously that the price of Dudley International House was deliberately inflated by A$4.75mil.

Then MARA Inc chairman Datuk Mohammad Lan Allani was charged with 22 counts of corruption amounting to RM20.45mil over the property deals in Melbourne. He pleaded not guilty to the charges.

Among the witnesses who presented their statements were deputy auditor-general (corporations) Roslan Abu Bakar; KKDW secretary-general Datuk Muhd Khair Razman Mohamed Annuar; Mara director-general Datuk Seri Azhar Abdul Manaf; Mara Corp Group Corporate Planning director Datuk Amir Azhar Ibrahim; and Mara Inc chief executive officer Mohd Fadzil Mohd Idris.

Separately, Mas Ermieyati said Mara Inc’s appeal to convert Premiera Hotel’s existing debt into equity for a second time should not be repeated. The first request was made in 2015.

“KKDW, Mara, Mara Corp, and Mara Inc should make sure that Premiera Hotel has a clear plan to ensure the debt-to-equity conversion generates returns for the company’s sustainability,” she said.

In the report, the PAC also proposed for KKDW, Mara and Mara Inc to see to it that all development projects – including property development, renewable energy projects and marketing plans – are completed on time and within budget, to generate high profits.The report said Mara Corp must also strictly monitor its subsidiaries to guarantee profits, repay debts and pay dividends.

Besides that, a comprehensive standard operating procedure must be established for property rental to prevent arrears.

“Mara Inc must also draft a complete and clear policy on property valuation,” said Mas Ermieyati.

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Wednesday, 1 February 2017

Malaysian Anti-Corruption agency launches probe against Mara chairman, Tan Sri Annuar Musa



https://youtu.be/M4urYR-7-8A
 
PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into the corruption allegations against Mara chairman Tan Sri Annuar Musa (pic) who was asked to go on leave.

MACC confirmed that an inquiry is under way to investigate the "alleged misappropriation and misuse of powers" committed by Annuar.

In a statement issued Tuesday, MACC said it will cooperate with Mara's internal audit department to investigate the allegations against Annuar.

"It should be noted that the MACC investigation is only focused on the issue of corruption and abuse of power involving the sponsorship of the Kelantan football team," it said.

Mara's internal audit team is already investigating Annuar's governance.

MACC urged all parties not to speculate and to let the commission carry out its investigation.

Earlier, Mara council member Datuk Dr Yusof Yacob said Annuar was suspended and asked to go on leave while an internal audit is conducted into allegations over the sponsorship of the Kelantan Football Association (Kafa) by two Mara subsidiaries.

The decision was made during an emergency meeting held at the Mara headquarters in Kuala Lumpur on Tuesday morning.

Dr Yusof said Annuar was also suspended as the head of Mara Investment Bhd (PMB).

He will assume all the positions held by Annuar.

The Malaysian Anti-Corruption Commission (MACC) will call Tan Sri Annuar Musa to record his statement on allegations of power abuse and misappropriation.

Along with the suspended Majlis Amanah Rakyat (Mara) chairman, other officers and those from the Kelantan Football Association will also be called, said MACC deputy chief commissioner (operations) Datuk Azam Baki.

“We will want assistance from anyone who can help in our investigation into the case.

“We have yet to schedule a time or date for Tan Sri (Annuar) to give his statement. It’s too early to determine because we have just started,” he said. - By Victoria Brown The Star/ANN


Related: 


MACC opens graft, abuse of power probe into Annuar Musa | New ...

Decision to suspend or appoint Mara chairman needs ... - The Sun Daily

Misappropriation of RM1.5 million fund: former JMB ... - The Sun Daily


Take a break, Annuar told


PETALING JAYA: Majlis Amanah Rakyat (Mara) chairman Tan Sri Annuar Musa has been asked to go on “temporary leave” to allow internal investigations over Mara’s sponsorships of the Kelantan Football Association (Kafa).

Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said he was informed that the Mara Council held a special meeting yesterday to pave the way for an internal audit into the sponsorship as well as other issues that have been going viral on social media.

Ismail was clarifying an earlier announcement that Annuar had been suspended.

“He was advised to go on temporary leave pending the investigations,” Ismail said in a statement issued here yesterday.

He said the Mara legal advisors informed him that the council had full authority to act as it did not involve the question of Annuar’s appointment or sacking, which requires the minister’s consent and the Prime Minister’s approval.

“This investigation is to regain the confidence of the public and Annuar was not invited as the meeting was about him.

“In fact, he was not even called in to give an explanation as the council believes it is only right for him to present his explanation to the audit committee,” he added.

Earlier yesterday, Mara Council member Datuk Dr Yusof Yakob, who chaired the council meeting, announced that Annuar had been asked to go on leave and was suspended.

He said this was to allow the internal audit committee to investigate sponsorships by Pelaburan Mara Bhd and UniKL (Universiti Kuala Lumpur) to the state football association through The Red Warriors Sdn Bhd (TRW).

“Those connected will be called up to give an explanation. The audit meeting will be held next week on Feb 7,” he told a press conference after chairing the special meeting at Bangunan Mara.

Dr Yusof said Annuar’s temporary removal will remain in effect pending findings of the probe.

“The findings of the investigations will be tabled to the council and deliberated.

“As long as Tan Sri Annuar is suspended, he will not have access to information or interest in Mara or its subsidiaries,” he said.

Dr Yusof said the council was not “saying who is wrong or right” pending investigations. “This is the clarification to the rakyat that we will not compromise with whatever accusations such as what happened with the Mara Inc case in Melbourne,” he added.

Asked how Mara was going to regain its credibility, particularly among the Malays, Dr Yusof said this was why the council decided to act swiftly in this matter.

“We are council members entrusted by the people.

“We cannot keep silent and must take the side of the rakyat to take action to resolve the issue,” he said.

Asked if a report would be made to Malaysian Anti Corruption Commission (MACC), he said that this had not been considered at the moment. “We will wait and see if there is a need to do so,” he added.

However, Dr Yusof stressed the internal audit was focused on Mara’s internal workings and not the abuse of power.

Annuar, who is in New Zealand, said he accepted the action and said it was the prerogative of the Mara Council to have him suspended.

By Mazwin Nik Anis, Martin Carvalho, D.Kanyakumari, Andsofea Susan Albert Kassim,
The Star/ANN

Related stories:




Engineer released on MACC bail of RM100,000


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Malaysian Anti-Corruption agency launches probe against Annuar, Mara chairman



https://youtu.be/M4urYR-7-8A
 
PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into the corruption allegations against Mara chairman Tan Sri Annuar Musa (pic) who was asked to go on leave.

MACC confirmed that an inquiry is under way to investigate the "alleged misappropriation and misuse of powers" committed by Annuar.

In a statement issued Tuesday, MACC said it will cooperate with Mara's internal audit department to investigate the allegations against Annuar.

"It should be noted that the MACC investigation is only focused on the issue of corruption and abuse of power involving the sponsorship of the Kelantan football team," it said.

Mara's internal audit team is already investigating Annuar's governance.

MACC urged all parties not to speculate and to let the commission carry out its investigation.

Earlier, Mara council member Datuk Dr Yusof Yacob said Annuar was suspended and asked to go on leave while an internal audit is conducted into allegations over the sponsorship of the Kelantan Football Association (Kafa) by two Mara subsidiaries.

The decision was made during an emergency meeting held at the Mara headquarters in Kuala Lumpur on Tuesday morning.

Dr Yusof said Annuar was also suspended as the head of Mara Investment Bhd (PMB).

He will assume all the positions held by Annuar.

The Malaysian Anti-Corruption Commission (MACC) will call Tan Sri Annuar Musa to record his statement on allegations of power abuse and misappropriation.

Along with the suspended Majlis Amanah Rakyat (Mara) chairman, other officers and those from the Kelantan Football Association will also be called, said MACC deputy chief commissioner (operations) Datuk Azam Baki.

“We will want assistance from anyone who can help in our investigation into the case.

“We have yet to schedule a time or date for Tan Sri (Annuar) to give his statement. It’s too early to determine because we have just started,” he said. - By Victoria Brown The Star/ANN

Take a break, Annuar told


PETALING JAYA: Majlis Amanah Rakyat (Mara) chairman Tan Sri Annuar Musa has been asked to go on “temporary leave” to allow internal investigations over Mara’s sponsorships of the Kelantan Football Association (Kafa).

Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said he was informed that the Mara Council held a special meeting yesterday to pave the way for an internal audit into the sponsorship as well as other issues that have been going viral on social media.

Ismail was clarifying an earlier announcement that Annuar had been suspended.

“He was advised to go on temporary leave pending the investigations,” Ismail said in a statement issued here yesterday.

He said the Mara legal advisors informed him that the council had full authority to act as it did not involve the question of Annuar’s appointment or sacking, which requires the minister’s consent and the Prime Minister’s approval.

“This investigation is to regain the confidence of the public and Annuar was not invited as the meeting was about him.

“In fact, he was not even called in to give an explanation as the council believes it is only right for him to present his explanation to the audit committee,” he added.

Earlier yesterday, Mara Council member Datuk Dr Yusof Yakob, who chaired the council meeting, announced that Annuar had been asked to go on leave and was suspended.

He said this was to allow the internal audit committee to investigate sponsorships by Pelaburan Mara Bhd and UniKL (Universiti Kuala Lumpur) to the state football association through The Red Warriors Sdn Bhd (TRW).

“Those connected will be called up to give an explanation. The audit meeting will be held next week on Feb 7,” he told a press conference after chairing the special meeting at Bangunan Mara.

Dr Yusof said Annuar’s temporary removal will remain in effect pending findings of the probe.

“The findings of the investigations will be tabled to the council and deliberated.

“As long as Tan Sri Annuar is suspended, he will not have access to information or interest in Mara or its subsidiaries,” he said.

Dr Yusof said the council was not “saying who is wrong or right” pending investigations. “This is the clarification to the rakyat that we will not compromise with whatever accusations such as what happened with the Mara Inc case in Melbourne,” he added.

Asked how Mara was going to regain its credibility, particularly among the Malays, Dr Yusof said this was why the council decided to act swiftly in this matter.

“We are council members entrusted by the people.

“We cannot keep silent and must take the side of the rakyat to take action to resolve the issue,” he said.

Asked if a report would be made to Malaysian Anti Corruption Commission (MACC), he said that this had not been considered at the moment. “We will wait and see if there is a need to do so,” he added.

However, Dr Yusof stressed the internal audit was focused on Mara’s internal workings and not the abuse of power.

Annuar, who is in New Zealand, said he accepted the action and said it was the prerogative of the Mara Council to have him suspended.

By Mazwin Nik Anis, Martin Carvalho, D.Kanyakumari, Andsofea Susan Albert Kassim,
The Star/ANN

Related stories:




Engineer released on MACC bail of RM100,000


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