Its chairman, Annuar Musa, said the discount would be given based on the outstanding balance and must be settled in one lump-sum payment.

He said the offer would be valid for a year from next month.

“At least Mara will be able to collect some payments from old loans and use the money to finance the current students.”

Annuar was speaking to reporters after participating as a panellist in the Persada City Talk programme titled “Affordable Houses for the Future Generation” at the Tabung Haji Complex here today.

In another development, Annuar said Mara’s credibility was not affected by the Malaysian Anti-Corruption Commission’s (MACC) investigations into its subsidiary, Mara Incorporated Sdn Bhd.

He said the investigation was part of the standard operating procedures.

On March 18, Annuar handed over documents pertaining to the purchase of real estate in Melbourne, Australia, by Mara Incorporated Sdn Bhd, which he felt would help the MACC’s investigations.

The issue arose after Australian newspaper “The Age” claimed in a report that several Mara senior officials and a former politician had spent millions from Malaysian government funds to buy an apartment block known as the Dudley International House in Melbourne.

– BERNAMA