Mara Foundation to replace Mara Education Foundation - Annuar Musa

The Mara Education Foundation (YPM) will take on a new name, Mara Foundation, effective January next year as part of its transformation to cover a wider scope.

Majlis Amanah Rakyat (Mara) chairman Tan Sri Annuar Musa said the decision to change the name was decided at a meeting in Langkawi on Saturday.

"It is a transformation which we will carry, including to widen the scope of the foundation, not only for education or educational activities alone.

"Every year, Mara contributes RM20 million to YPM and this fund will be increased," he told reporters after a dialogue with students and lecturers at Universiti Utara Malaysia (UUM) here Sunday.

Last April, Prime Minister Datuk Seri Najib Razak announced that five initiatives to empower Mara would be carried out, including the establishment of MARA Corporation Berhad, Rural Capital Berhad and UniMARA.

The prime minister said the government would also establish Mara Foundation to replace YPM and change the name of the road between PERTAMA Complex and the Mara Building in Kuala Lumpur from Jalan Semarang to Jalan Mara.

Najib said the establishment of Mara Foundation was to enhance the foundation's corporate social responsibility.

In a related development, Annuar said Mara would focus on China for its students to further their studies in engineering. -- Bernama