Mara Council Unhappy Subsidiary Inked Mou With Lynas Without Approval

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Mara Corporation Sdn Bhd had inked a memorandum of understanding (MOU) with Lynas Malaysia Sdn Bhd without the approval of Mara Council
Mara Council said the action of the Mara Corporation chairperson in signing the MOU was not in line with the directive of the council
"All new initiatives need the consideration and approval of the council," it said in a statement yesterday
It added that the council is in the midst of reviewing Mara Corporation and its subsidiaries' future direction

"Pending the finalisation of this review, Mara Council has directed any initiatives by Mara Corporation with any parties to get approval from the Mara Council and the Rural Development Ministry."Yesterday, Bernama reported Mara Corporation chairperson Akhramsyah Muammar Ubaidah Sanusi as saying that the collaboration marked the beginning of greater opportunities for highly-skilled graduates, research and development, and more downstream industries
“We are fortunate to have a key component of this supply chain already operating in Malaysia, and it is time to develop opportunities to further enhance Malaysia’s green and high-tech industries in line with the government’s new Shared Prosperity Vision 2030,” he said at the MOU signing ceremony in Kuala Lumpur yesterday
Lynas Malaysia vice-president Mashal Ahmad, Lynas Corporation chief executive officer Amanda Lacaze and Australian High Commissioner to Malaysia Andrew Goledzinowski were present at the ceremony
According to the report, Lynas Malaysia and Mara Corporation will collaborate on several key projects, including attracting downstream industries and downstream customers to Malaysia
The projects include education and training initiatives in Malaysia, commercialisation of neutralisation underflow (NUF) residue from the Lynas Malaysia plant, including making soil conditioner (fertiliser) products for Malay farmers, and design and fabrication works related to the Lynas 2025 project. - Mkini

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