Twenty-one Mara Corporation Sdn Bhd professionals received termination letters today amidst controversy within the company since last November following the suspension of its group chief executive officer.
In its ‘cessation of employment’ letter to the ranking staff, Mara Corp said the appointment “had not been budgeted for and/or approved in accordance with the Company’s Limits of Authority.”
The letter added: “… your continued employment with the company is therefore unsustainable both in terms of your role and the company’s financials. Your position is therefore surplus to the company’s requirements.”
The staff will serve their one-month notice and be paid one month’s salary. The termination letters issued by the investment and commercial unit of Majlis Amanah Rakyat (Mara) were silent about compensation.
The team of professionals was brought in after Datuk Badlisyah Abdul Ghani was revealed as Mara Corp group chief executive officer on Sept 3.
The professionals, who were given a two-year contract, were tasked to oversee various sectors within the company – namely education, financial services, property, aerospace, retail and transportation.
Twentytwo13, had on Dec 3, revealed that Badlisyah was “suspended” in November and the board of directors had appointed Noor Irwan Marmin as acting chief executive officer effective Nov 20.
Noor Irwan had signed off on the termination letters.
It remains unclear to why Badlisyah was suspended and if he had also received a termination letter today. Efforts to get Badlisyah were futile.
Mara Corp and Mara have remained tight-lipped over the issue.
