KOTA TINGGI, Oct 5 — Majlis Amanah Rakyat (Mara), through its investment wing Mara Corporation (Mara Corp), is now in the process of restructuring its business focus, said Rural Development Minister Datuk Abdul Latiff Ahmad.
According to him, this arrangement is to enable Mara Corp to be involved in other strategic businesses in order to help build its economic strength.
After all, Mara, he said, has ventured into the field of aerospace — one of the avenues of strategic business that has not been explored by other Bumiputera companies.
“Mara is a large entity, experienced, and has trained staff. It has provided services in education, entrepreneurship, investment and human capital.
“But for business, we have Mara Corp and now, we just want to restructure the business focus so that Mara Corp can build its economic strength, especially in strategic businesses.
“This needs to be done because we cannot enter all branches of business, even if these are profitable. If it is not a strategic business, (then) we will give it to other Bumiputera companies. That is why Mara does not have a company in construction,” he said after attending the Mara Liner New Bus handover ceremony in Bandar Penawar, near here, today.
Abdul Latiff said this when asked by reporters whether Mara had any intentions to expand its business branch as it has a good track record in businesses that it had ventured into previously.
Meanwhile, when asked if Mara also had plans and was ready to expand the Mara Liner bus transport service, which currently only operates in Peninsular Malaysia, to Sabah and Sarawak, Abdul Latiff said, it all depends on the wishes of the state governments.
“Yes, we are ready. However, it depends on the state government because in this matter, there must be cooperation with the state government.
“But, so far, Sabah and Sarawak have their own (bus) services and in principle, we also cannot compete with other operators in this sector (public transport) because we are a big company.
“If we compete, they will lose. So (let us) give the (business) opportunity to other entrepreneurs, unless the operator feels there are areas that are unprofitable…then Mara Liner can (enter), “he said. — Bernama
