KUALA LUMPUR: Mara Incorporated Sdn Bhd (MARA Inc) was found to have overpaid for properties in Australia and London in 2013 and 2014, respectively. Public Accounts Committee (PAC) chairman Datuk Mas Ermieyati Samsudin revealed that these transactions were not initially approved by the Minister of Finance Incorporated (MoF Inc) but were later appealed by the Ministry of Rural and Regional Development (KKDW).
“MARA Inc purchased overvalued properties, including Beaumont House in London in 2014 and several properties in Melbourne, Australia, in 2013, namely Dudley International House, 51 Queen Street, and 333 Exhibition Street,” she said.
She explained that while MoF Inc had declined to approve the transactions, KKDW appealed the decision. The matter was then brought to the Economic Council, which granted approval in 2013.
One of the transactions, involving the Melbourne properties, was investigated by the Malaysian Anti-Corruption Commission (MACC) and is currently the subject of ongoing court proceedings.
