Mara wins appeal to recover RM6.6 million from businessman over failed profit guarantee
The Court of Appeal in Putrajaya has ruled in favour of Majlis Amanah Rakyat (Mara), allowing the agency to recover RM6.6 million from businessman Naguib Mohd Nor. The ruling stems from a failed profit guarantee linked to Mara's RM33 million investment in Strand Aerospace Malaysia Sdn Bhd in 2014. The court found Naguib liable for the shortfall as the company failed to meet its profit targets.