Mara against new Med Bumikar directors


Majlis Amanah Rakyat (Mara) is challenging the appointment of two new directors at its 29%-owned unit Med-Bumikar Mara Sdn Bhd, on ground that the appointments were not made through proper channels.

In a statement yesterday, the government agency said it filed an originating summons or court application against six directors of Med-Bumikar and the company itself as a nominal defendant.

Mara regards the appointment of Datuk Mohd Ridzuan Abdul Halim and Sharifuddin Shoib as directors of Med- Bumikar, the private vehicle that indirectly holds a 22.58% interest in the national carmaker Perusahaan Otomobil Kedua Sdn Bhd.

“The court application filed by Mara seeks to annul and/ or invalidate the appointment of the two newly appointed directors of Med-Bumikar who were appointed not through a properly convened board of directors meeting,” it noted, adding that the directors were instead appointed via a circular resolution.

Mara said it is disputing the validity of the appointments as neither individual has shareholdings in Med-Bumikar and as shareholders’ approval representing over 50% of the votes in the company was not obtained.