Mara’s purchase of Australian properties linked to Johor development project?

(Rakyat Post) – The business magnates who are allegedly linked to a kickback scheme involving Majlis Amanah Rakyat (Mara) and the purchase of Melbourne property units in Australia are currently facing parallel queries here in Malaysia.

Among other names that were reported by the Australian daily, The Age, these are prominent individuals within Mara Inc, moreover, it is speculated that the purchase of Dudley House in Australia is connected to a development project here in Johor Baru.

According to the Companies Commission, the company which was listed and having a postal address in Sri Petaling had hauled a substantial loan amounting to RM42 million for the purpose of the development project and placing several lots of land as collateral, as reported by the New Straits Times.

The loan which was obtained from Malaysian Building Society Bhd. was apparently meant  to fund the development project the company had planned in Johor Baru.

However, it seemed that the project never even broke ground.

Furthermore, it was also understood that the individuals are under even more scrutiny form the authorities due to this revelation of the stalled project within the investigation.

Recently, The Age had reported that a top Mara officer, senior official and former politician had allegedly spent millions in government funds to buy an apartment block in Melbourne in a property scam.

The Australian daily alleged that “a group of super-rich Malaysian officials” had overpaid by A$4.75 million (RM13.8 million) for the apartment block in the city in 2013.

The trio had allegedly “overbid” for the building, called Dudley International House, from A$17.8 million to A$22.5 million, with the difference pocketed as bribes back home.

The five-storey building located in suburban East Caulfield currently accommodated 115 Mara students studying at Monash University.