KUALA LUMPUR: Majlis Amanah Rakyat (Mara) wants to reposition itself in the country in light of the new challenges it will be facing as the world and environment changes.
Its chairman Tan Sri Annuar Musa said it was vital for the subsidiaries and agencies to re-invent themselves as they move forward towards becoming a global player.
Speaking to the New Straits Times yesterday, he said by restructuring its subsidiaries and agencies under one holding company or Mara Corporation (MaraCorp), the establishment would be strong enough to embark on a bigger adventure.
"MaraCorp will facilitate the entire company and it will provide a better management while having a talented set of people to run the corporation like a conglomerate. This is what we are gearing for," he said.
Annuar was elaborating on the large-scale restructuring of Mara and its subsidiaries and agencies through MaraCorp which was announced by Prime Minister Datuk Seri Najib Razak on Monday.
MaraCorp will be established as a government-linked investment company with a current value of RM1.4 billion and it will not involve any additional government investment.
On the establishment of UniMara, Annuar said this new education institution would complement UniKL as it would focus on non-technical education which would look into specialised sectors such as entrepreneurship.
He said the university would be ready to accept its first intake of students by the end of this year, as the licensing has been approved and given the green light by the Higher Education Ministry.
Annuar shared that discussions were still ongoing to iron out the finer details including meeting the requirements and criterion set by the ministry.