MAJLIS Amanah Rakyat (MARA) is committed to strengthening the socio-economic development of Bumiputeras as outlined by the MARA Investment Sector Strategic Plan 2021-2025.
This will be done through the exploration of potential investment opportunities in strategic industries to empower its value chain as well as optimise non-financial assets in the MARA ecosystem.
MARA investment committee chairman Datuk Jamelah Jamaluddin said: "MARA is confident with the new direction and good corporate governance. This strategy is able to create more global leading entrepreneurs and increase Bumiputera equity ownership in the corporate sector."
She added: "This new direction is important as a guideline for the sector to redouble its efforts towards continued economic development, especially when the country is facing challenging economic realities.
"Everyone is aware that the Covid-19 pandemic has affected and impacted business operations and financial performance of local and global companies. MARA subsidiaries are also affected. Various strategies and action plans have been adopted, including revising the 2020 budget plan and formulating new strategies to minimise the pandemic impact, rationalising operating costs and implementing aggressive austerity measures and online strategies, and business and marketing activities.
"As a result of the stimulus package introduced by the government and proactive actions implemented by MARA subsidiaries, the total loss of the company was reduced. In fact, there were companies that generated profits, despite initially projected to lose money."
The responsibility to strategise and catalyse MARA's investment falls on MARA Corporation Sdn Bhd (MARA Corp) to support the Bumiputera economic mandate and agenda.
MARA Corp is responsible for creating employment and business opportunities and developing equity ownership as well as ensuring increased revenue generation of subsidiaries in providing good and consistent investment returns to MARA.
MARA Corp, through its subsidiary companies, focuses on seven areas: Education and Talent Management, Financial Services, Property Management, Aerospace, Transport and Logistics, Retail as well as Business and Industrial Services.
The MARA investment sector also emphasises on the best corporate governance practices implemented by all its subsidiaries.
Throughout 2020, MARA's investment arms have recorded several milestones. Five out of 16 funds managed by PMB Investment Berhad have recorded outstanding performance in "Lipper Investment Management" for the Malaysian Equity's unit trust category.
PMB Investment also received the Global Islamic Finance Awards (GIFA) 2020 for the Islamic Asset Management category. In addition, PMB Investment opened up career opportunities to more than 5,000 people as unit trust fund consultants and agents.
Asia AeroTechnic Sdn Bhd, which carries out aircraft maintenance and repair activities, has penetrated the Asia-Pacific, Middle East, Africa and Europe markets and has trained 1,320 industrial training students, especially from University of Kuala Lumpur-Malaysian Institute of Aviation Technology (UniKL MIAT), which has produced 23 licensed aircraft maintenance engineers.
Besides being profit-oriented, the subsidiaries also have social responsibilities, especially to the rural population.
MARA Liner Sdn Bhd provides rural and express bus transportation services that have benefited more than 1.2 million passengers a year, while MARA Education Foundation has assisted 60,000 students from low-income families (B40), including orphans and asnaf through school assistance programmes, child foster schemes, education charity fund schemes and more.
MARA Investment Sector will continue to play the role as the backbone of MARA's entrepreneurial and educational activities to increase Bumiputera equity ownership while supporting the delivery of MARA's work as a socio-economic developer.