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Mara takes action against 12,178 borrowers, guarantors

PUTRAJAYA: Majlis Amanah Rakyat (Mara) has taken legal action against 12,178 borrowers and guarantors of its educational loans throughout 2022.

According to the Mara Annual Report 2022 presented in the Dewan Rakyat yesterday, the legal actions included demand notices, lawsuits, court judgments and the enforcement of those judgments.

In addition, follow-up actions nationwide to locate borrowers and guarantors have also been implemented.

"The legal actions taken in 2022 were higher than those in 2021. Mara successfully collected RM8.7 million in loan repayments, compared to RM6.7 million collected in 2021," read the report.

Regarding enforcement actions against Mara facility recipients, there was an overall increase of 16.5 per cent compared to 2021.

This initiative successfully generated collections totaling RM104.2 million, contributing 12.6 per cent to the overall loan repayment collections for Mara in 2022.

For entrepreneur development, Mara reported that the government allocated RM22 million, benefiting 10,134 entrepreneurs through the implementation of 1,642 activities.

Meanwhile, the performance of Mara Corporation showed a revenue increase of 384 per cent, reaching RM736.5 million in 2022 compared to RM152.09 million in 2021.

This increase contributed to a 229 per cent rise in group profit after tax and zakat, amounting to RM55.67 million in 2022, compared to RM42.03 million in 2021.

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