PRIME Minister (PM) Datuk Seri Anwar Ibrahim has directed Khazanah Nasional Bhd to conduct an internal audit of its loss-making investment in FashionValet (FV).
“This firm directive is in line with my previous announcement directing the National Audit Department to audit 2,000 government-linked companies to ensure better governance,” Anwar, who is also Khazanah chairman, said in a post on X.
Earlier, he stated he would not interfere with investigations by the Malaysian Anti-Corruption Commission into the National Farmers’ Organisation (NAFAS) and Khazanah, emphasising the need for fairness regardless of rank or affiliation.
He also mentioned ongoing investigations into a significant investment loss by Khazanah in FashionValet and alleged cartel activities in rice fertiliser distribution.
“Currently, there is much buzz about NAFAS. Although it is an independent body, it falls under the Ministry of Agriculture and Food Security. Recently, there has also been a case involving Khazanah, whose chairman is the PM.
“However, I will not block investigations if there are reports. If there is wrongdoing, investigate. If there is wrongdoing, charge. If there is wrongdoing, punish,” he said during the launch of the 2024 National Small Traders and Hawkers Carnival at the PICCA Convention Centre, Butterworth Arena, Penang, today.
Meanwhile, MACC’s probe into Khazanah and Permodalan Nasional Bhd’s (PNB) investment in FV will be “fair and professional” says chief commissioner Tan Sri Azam Baki also urged the public to refrain from speculation and a “trial of public opinion”.
On Oct 29, the Finance Ministry revealed in the Dewan Rakyat, that PNB and Khazanah lost RM43.9mil from the sale of their minority stakes in FV.
In 2018, Khazanah invested RM27mil and PNB RM20mil for minority stakes in FV. These stakes were sold for just RM3.1mil. – Nov 2, 2024
Main photo credit: Bernama
