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Let take a visit to Limbang Sarawak where MARA gave a big surprise to the local people. MARA purchased an abandoned shophouse project with the reason only known to the director approving the purchase. The owner of the project enjoyed having a big laugh to the bank.
The local authority expected MARA able to create commercial growth out of the purchase but despite many months had passed, MARA unwillingly keep on pouring the money into the project.
MARA should learn how the private enterprise work and sustain even the downtrun of economy. Their entire investment policy seemed to be outdated. For decades, the way transactions done by MARA officers has been repeatedly questionable and Limbang transaction is not isolated.
To my opinion, the entire organisation is beyond reform and should be privatized. It is time to replace all the directors with a fresh team.
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