PM Najib announces new plans for MARA

Majlis Amanah Rakyat (MARA) would continue to exist only if UMNO remains in power, Datuk Seri Najib Razak said.

To strengthen the agency under the Rural and Regional Development Ministry, the Prime Minister today announced five government initiatives, including the consolidation of all MARA subsidiary companies under one umbrella company, Mara Corporation Berhad.

The subsidiaries were currently valued at RM1.4 billion, he said in his opening speech at the agency's 50-year celebration do today.

Najib also announced that the RM800 million MARA Education Foundation will have a new name – MARA Foundation – and Jalan Semarang in the federal capital will be changed to Jalan MARA.

Two new entities will also be established; a university called UniMARA to help with the development of human capital, and Rural Capital Berhad to continue developing successful and competitive entrepreneurs, in addition to providing financial assistance to them.

Najib, who is also UMNO president, said MARA would cease to exist if there is no UMNO.

“Without UMNO, MARA will be 'buried'. If MARA lies buried, the Malays and Bumiputera may fall. That is why however the situation, we must fight to keep UMNO.

"Do not be in cahoots with those who want to bring UMNO down. Defending UMNO means defending the Malays and the Bumiputera," Najib said during the event at the main hall of Menara MARA here.

Also present were Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob, MARA chairman Tan Sri Annuar Musa and Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz.