Rcb Retrieves Rm3.3 Bln Mara Debts In Span Of 10 Years

PASIR PUTEH, April 3 (Bernama) -- Rural Capital Berhad (RCB), a wholly-owned subsidiary of MARA Corporation, has effectively retrieved debts totaling RM3.3 billion over a span of 10 years since 2013.

RCB chairman, Noor Hariri Mohamed Noor, stated that a significant portion of these debts involved educational financing, followed by business loans and rental from premises. 

"So far, approximately 75 percent of borrowers have made repayments, and just last year alone, we managed to collect RM280 million in educational financing debt repayments, RM20 million in business loans, and RM2 million in rental from premises.

"This year, RCB aims to collect RM300 million in educational financing debts, and RM25 million from business loans and rentals," he said.

He was speaking after the MARA Prihatin Ramadan programme at Dewan Uthmaniyah here today, which was also attended by Kelantan MARA director, Fazli Rizal Ismail.

Noor Hariri noted that the majority of the indebted individuals comprised borrowers who encountered challenges and eventually defaulted on their loans after failing to meet payment obligations within the two-year timeframe stipulated by MARA.

He elaborated on various strategies to streamline debt collection endeavours, which included persuasive telephone calls and providing incentives such as discounts and payment deductions through the Employees Provident Fund.

Expanding further, he noted that borrowers struggling to repay debts cited various reasons, including unemployment, lack of stable income, and business failures.

Earlier, he mentioned that around 1,000 asnaf individuals across 10 state districts would receive education, Hari Raya clothing, and cash aid through the MARA Prihatin programme.

-- BERNAMA