The once political hot potato MARA Inc. have been closed and replaced with MARA Corp as MARA's investment and fund raising arm. It is still at the initial stage but already plunged into controversy with the appointment of a former MP of Labuan, Dato Suhaili Abdul Rahman as Group Executive Director. He has a chequered history with a legal case that became case law of financial scandal in University.
At the same time, news emerged over the weekend of recently appointed Group CEO, Dato Badlisyah Ghani being made to go on "garden leave" or suspension pending investigation.
When it touches MARA or Sabah or political economic matters, these are areas only leads are sufficient to dig up more information and get a complete story. It won't take long.
Haresh is a sports writer, thus his report is dry and straight forward even without confirmation from the affected party. How in hell could he get a scoop on corporate and political issue? Did he got it from someone active in sports and close to MARA Corp or MARA?
Not so difficult to dig.
Badlisyah and MARA Corp
Second, Badlisyah had been much sort after by MARA Corp. Quite aware when Pak Yem aka Dato Ibrahim was the MARA Director General, they were looking at him but Dato Najib got Badlisyah first for Tabung Haji.
Then, during the PH government, ANSARA Balik Pulau, Akramsyah Tan Sri Sanusi was made MARA Inc Chairman. He too wanted to take in Badlisyah to be MARA Corp CEO.
PH government crumbled and Tun Dr Mahathir resigned. So to Akram and the plan to bring in Badlisyah. But Minister Dr Latiff wanted Badlisyah too.
So why was he put on garden leave for three months? Did he do something terribly wrong?
Before his appointment, there were blog postings by, one favourite blog to read, Captain M who raised issues of his financial situation [link here and here]. If he was still hired, then it must have been a non-issue or something misdemeanour. Is MARA so reckless at background check as shown later of Suhaili.
Blocking due diligence?
Former Chairman Dr Hasnita used to say MARA has no business being in business.
Any corporate hound dog would naturally suspect Daim and his protege, more so close family member, would not be doing these things, if there was nothing interesting in MARA Inc.
It turned out there is RM500 million cash and RM1 billion worth of assets.
That could still give old and sickly billionaire Daim a massive hard on. Those licenses available would make any 80 year old marry another one. It means someone elses are gettin' horny too.
One mole at the ugly blue MARA building and adjoining Primiera Hotel was saying there was a beauty parade at MARA Inc to choose the audit firm cum consultant to undertake due diligence of MARA Inc and its subsidiaries.
It is quite a massive work in this hard economic times and became the talk of the town among Bangsar Bubble.
Is this suspension to block the due diligence and perhaps, prevent from a new corporate plan initiated by Badlisyah and management team from being approved?
Slush fund can be created through kickback received from selling government assets or acquisition for government company. Is is possible with GE15 being repeatedly talked already?
Ini macam punya orang ka ...?
Fourth and only the last for now, there is a FB message that went viral on social media and in message groups making comparison between Badlisyah and Suhaili: .
This message is merely raising doubt of Suhaili. Lets get specific.
Upon googling, the above 2010 news was found here of Suhaili being fined RM10,000 by a court for cheating a bank. Still a misdeameanour.
In both the reports, Malaysiakini politicised it as UMNO MP and former Labuan MP meant to discredit UMNO. But still, a court made a decision. Unless there was a subsequent appeal, it stands that he is a cheat and has dishonest leaning.
Its not some MARA subsidiary forced to donate to a football, which has nothing to do with Bumiputera upliftment. Quite sure more will surface from further digging in Sabah and KL.
Suhaili is no more MP for Labuan, thus he is not one of the UMNO Sabah MP that frogged to PPBM. However, he led the establishment of PPBM Labuan. Good that he is taken off UMNO hands, but it begs the question to PPBM:
Ini mcm punya orang ka mahu jadikan Grp CEO MARA Corp? MARA tu duit rakyat, duit bantu Bumiputera ..., damn it!
As earlier mentioned, this ANSARA blogger will naturally have access to the ins and outs of MARA almost like the back of our hand. The gut feel is it could lead to the previous MARA Council or personaity/ies related to the previous MARA Council.
There is definitely insidious manouvering within MARA and MARA Corp. Each personality in MARA and MARA Corp will be thoroughly investigated from Board room to bedroom.
RM500 million cash and asset worth RM1 billion could sure make much hay while the political sun still has hours to shine. When it turned dark, history could repeat itself and Presinct 18 Putrajaya will have to do their job.
Due to get a baju Melayu for next raya at Koperasi Rakyat on first floor MARA building and foot massage at Premiera Hotel.
Till next episode .....