Majlis Amanah Rakyat (Mara), which was involved in a property scandal in Australia, has decided to cease investing in properties abroad, its former chairperson Annuar Musa said today.

Annuar said Mara would also sell part of its properties to pay off the loans. Four of the purchases required 70 percent loans.

 

"We made a decision not to continue investing overseas. If we get good offers for the assets we bought, we are quite prepared to liquidate them," Annuar said when met at the Parliament Hari Raya open house.

Annuar's two-year tenure as Mara chairperson expired last Friday.

Mara has decided to sell its Ashley House in London, for which the agency hopes for a 20 percent return.

"I reminded them to liquidate the properties through open bidding and prior approval from Finance Ministry. There should be nothing to doubt in the sales," he said.

 

Annuar also said Mara would only sell the Dudley International House and three other assets in Australia once the Malaysian Anti-Corruption Commission (MACC) completes its investigation into complaints raised about the purchases.

 

He however said Dudley House, the student hostel block where allegedly its purchase was overpaid by RM13.7 million which went into kickbacks, is almost fully rented out and making good returns.

 

Mara, which has purchased overseas properties since the 1970s, will only sell its properties when a good offer is made, he said.

 

"It's quite dynamic," he stressed, when asked how many assets the agency aimed to sell.

 

Annuar also rebutted PKR Pandan MP Rafizi Ramli's ( photo ) claim that one of those implicated in Mara Inc’s purchase of a student hostel at 746 Swanston Street in Melbourne had links with an Umno Youth leader.

"This has nothing to do with party politics. This is about the law. I was told that one of those who sold a property was a DAP supporter, but we never took that into consideration," said Annuar, who is also an Umno supreme council member.

 

"Rafizi must have his own reasons to say (there was overpayment in three property deals). I am not saying anything about that.

 

"We welcome the information provided by him. If it can assist the investigations, why not?" he said.