KUALA LUMPUR: MARA Corp Group, the investment holding arm of Majlis Amanah Rakyat (MARA), expects to return to an accumulated profit position by end-2027 following a turnaround in its commercial businesses and years of restructuring.
MARA director-general Datuk Zulfikri Osman said the recovery reflects a shift towards a more commercially driven model, with stronger performance from its profit-oriented subsidiaries.
“For the period of 2024 to 2025, MARA as a whole, through the subsidiaries of MARA, has recorded an increase in revenue by 10%, from RM1.53 billion in 2024 to RM1.69 billion in 2025,” he told a press conference here today.
He said MARA’s ecosystem comprises five development companies, which are not profit-driven, and 12 commercial entities under MARA Corp that drive revenue and financial performance.
“The subsidiaries of MARA, some of them, there are five companies which we call development companies. They are not commercial companies. But the rest, we have 12, are commercial companies located under MARA Corp,” he said.
Zulfikri said the commercial segment has been the main driver of the group’s turnaround.
“For the MARA Corp companies, the financial performance in 2025 shows that total revenue has increased to RM1.026 billion from RM917.26 million in 2024, while profit after tax stood at RM85.9 million,” he said.
He added that the improvement marks a sharp recovery from earlier years.
“For the MARA Corp commercial companies, compared to 2021, we recorded an increase of RM152 million, but in 2025, revenue reached RM1.026 billion, which means an increase of almost 10 times,” he said.
Zulfikri said the turnaround comes after years of restructuring, including the privatisation of several entities that previously contributed to accumulated losses.
“Before that, some of MARA’s subsidiaries recorded accumulated losses because they were not commercial entities,” he said.
Accumulated losses stood at RM862.1 million in 2023 and have since been reduced to about RM558.9 million by end-2025.
“We expect that by the end of 2026, we will be able to reduce the accumulated losses to only RM49.7 million, before moving to an accumulated profit position in 2027,” he said.
He said the recovery is driven by capital reduction and business turnaround initiatives, alongside efforts to strengthen revenue-generating segments.
“We are making our strategy to reduce the accumulated losses through capital reduction, and secondly, we are making a turnaround in businesses,” he said.
MARA Corp had previously carried legacy losses from non-commercial operations, as it moves towards a more disciplined, investment-driven model.
Zulfikri said the group will continue to focus on sustaining growth across its commercial portfolio as it works towards restoring profitability by 2027.