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PAC Recommends Alignment of Investment Proposals with Government Policies

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Public Accounts Committee,Investment Proposals,Government Policies

The Public Accounts Committee (PAC) has recommended that the Rural and Regional Development Ministry (KKDW), Majlis Amanah Rakyat (MARA), MARA Corporation Sdn. Bhd. (MARA Corp) and MARA Inc align all investment proposals, especially high-value property acquisitions, with government policies and prioritize domestic investments. PAC chairman Datuk Seri Mas Ermieyati Samsudin stated that these proposals should prioritize local investments and require prior approval from the Finance Ministry (MoF). This recommendation follows findings from three PAC proceedings that MARA Inc made overvalued property purchases in London and Melbourne.

: The Public Accounts Committee has recommended that the Rural and Regional Development Ministry , Majlis Amanah Rakyat , MARA Corporation Sdn. Bhd. and MARA Inc align all investment proposals, especially high-value property acquisitions, with government policies and prioritise domestic investments.

Mas Ermieyati said among those who testified were Deputy Auditor-General Roslan Abu Bakar, KKDW secretary-general Datuk Muhd Khair Razman Mohamed Annuar, MARA director-general Datuk Seri Azhar Abdul Manaf, MARA Corp Corporate Planning Director Datuk Amir Azhar Ibrahim and MARA Inc chief executive officer Mohd Fadzil Mohd Idris.

Mas Ermieyati said the overvalued property purchase case in Melbourne had been investigated by the Malaysian Anti-Corruption Commission and is still under trial in court. The PAC further recommended that KKDW, MARA, and MARA Inc strengthen their financial management and investment policies, including the development of clear guidelines for evaluating property investments to avoid future complications.

 

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