KUALA LUMPUR: MARA Corporation has strongly defended the Memorandum of Understanding (MoU) it signed with Lynas Malaysia Sdn Bhd for collaboration on several projects, including attracting downstream industries and downstream customers to Malaysia.
MARA Corporation chairman Akramsyah Muammar Ubaidah Sanusi said contrary to news report that the MoU was signed without the consent of MARA itself, all relevant stakeholders
had been engaged on the matter and it was signed in compliance with all requirements of good governance.
In putting the record straight on the issue, he said the MoU was brought to the Board of MARA Corporation on Sept 23 and approved with the Board representative from the MARA Council in attendance.
“The approval was not conditional other than it being agreed that it be kept confidential and be expedited, understanding the sensitivity of such an
MoU as the parent company of Lynas Malaysia is listed on the Australian Stock Exchange.”
Akramsyah said the Chairman of MARA, Dr Hasnita Hashim, was also later briefed on the matter in a private discussion on Oct 2 while the office of the Minister of Rural Development has been kept abreast of developments up to the signing of the MoU on Monday. – AFP
