Can MARA makes money out of Abandoned Project

MARA, like many of Malaysia's public services that use the people's money to provide public facilities, infrasturcture and education badly needs to start posting their accounts on an open access website, so all can see just how those millions of ringgits spent by them.

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 Their entire investment policy seemed to be outdated.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.

Posted by Lawasian on Ahad, Ogos 01, 2010. Filed under Keluhan . You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry