MAYBANK Asset Management Group chairman Dr Hasnita Hashim has been appointed the new chairman of Majilis Amanah Rakyat (Mara).

In a statement today, the Prime Minister’s Office said her appointment was effective October 1.

It also announced the appointment of six Mara board members.

The six new board members are Prof Dzulkifli Abdul Razak, Dr Nungsari Ahmad Radhi,  Ameer Ali Mydin, Syed Tamim Ansari Syed Mohamed, Mahaleel Tengku Ariff and Zakri Khir.

Hasnita holds a PhD in nuclear physics from Oxford University.

She has 26 years of experience in global finance management and was formerly the chief executive officer at Guidence Investments, a subsidiary of the Guidance Financial Group.

A member of the Institute of Actuaries, she began her career as an actuary with Coopers & Lybrand Deloitte, London

The appointments come as the Pakatan Harapan government tries restore to order the organisation set up to help Bumiputera entrepreneurs.

Mara, via its subsidiary Mara Inc, has been involved in several dubious land deals in Australia .

On July 19, 2013, Mara Inc officials mortgaged a property to raise money to buy Dudley House in Melbourne. The transaction is under investigation for fraud, corruption and money laundering.

Australia’s Fairfax Media reported that the cost of the student accommodation building was inflated by AU$4.75 million (RM14.15 million) to “pay for kickbacks”.

The scandal came to light in 2015 after Melbourne glazier John Bond sought help from the courts after having been driven to bankruptcy when officials involved in the deal refused to pay for renovation work on Dudley House.

In the wake of the scandal, the Malaysian Anti-Corruption Commission launched an investigation and detained several people, who were later released without charge. The Australian Federal Police also conducted an investigation.

Mara’s top leaders have also been questioned by MACC for alleged corrupt practices. –  September 26, 2018.