Majlis Amanah Rakyat (Mara) will undertake a restructuring of its subsidiaries, including appointing new chairpersons and board members, beginning Sunday.

Chairperson Annuar Musa said under the new management structure, all subsidiaries will come under the ambit of a parent company called Mara Corp Bhd.

He said the new management would be able to provide better control and supervision rather than under Mara’s administration like before.

The restructuring exercise is taken to ensure that Mara’s subsidiaries are properly managed and able to generate more revenue besides being more independent, he told reporters at the handing over of keys to house owners under the Hardcore Poor Housing Programme in Ketereh today.

Annuar, who is also member of parliament for Ketereh, said with the new set-up, it is also hoped that the subsidiaries would not be overly dependent on government funds.

“We have a lot of assets, the total paid-up capital of all the subsidiaries amounted to nearly RM2 billion and this is a huge amount,” he said.

Among companies that will be involved in the restructuring exercise are Pelaburan Mara Bhd, Yayasan Pelajaran Mara, Mara Liner, Giat Mara Sdn Bhd, Kolej Politek Mara, and Pusat Pengembangan Reka Bentuk Mara.

- Bernama