Friday, December 04, 2020

Politicians are back in power at Mara Corp

Badlishah told to go on leave after ordering audit on Mara Corp

Bangsar, Dec 4: Something is brewing in Mara Corporation, according to twentytwo13’s latest scoop Three months into office, Mara Corp’s group CEO ‘suspended’that suggests a possible change in leadership. I would have added the word “again” somewhere in that intro. This isn’t the first time Mara Corp, the of Mara, is in the news for the wrong reasons. It won’t be the last, either. It’s what some Melayus up there are good for, if you ask me.

In a nutshell, not long after Tan Sri Muhyiddin Yasin became Prime Minister, a new CEO was brought in to clean up and consolidate the four-year old Mara Corp. The new man, of course, wanted due diligence to be carried out. He is, after all, a banker. He brought in some good Malays to help him, including former CEOs of public listed companies. When word got out that Earnst & Young would be picked as the auditors, a special Board Meeting of Mara Corp was convened. At the meeting, a prepared statement was read out, accusing the group CEO of abuse of power, blah blah blah. Mr Group CEO denied the silly allegations, of course. He was scheduled to present his plans for 2021 at the scheduled Board Meeting on Nov 30 but the Board wanted him to go on ‘garden leave’ instead pending an investigation into the allegations. 

A politician and a former Member of Parliament is now said to be the executive director of Mara Corp, appointed by the Cabinet Minister in charge of Mara, YB Abdul Latiff Ahmad.

End of story?


  1. xnakdedak7:24 pm

    Good stuff, Latuk!

    Sadly the tampering with GLCs seems to be a permanent feature of life.

    Certainly Muhyiddin's scattering of lucrative GLC dedak to buy backdoor loyalty was pretty much par for the course.

    Nothing changes, it seems...

  2. Datuk,

    I thought that Politicians are all back at GLC..