Edited by maklukpenggoda at 5-11-2024 02:59 AM
PUTRAJAYA – Malaysian Prime Minister Anwar Ibrahim ordered sovereign wealth fund Khazanah Nasional Berhad to carry out an internal audit to investigate issues related to RM43.9 million (S$13 million) in investment losses.
This is to ensure all government-linked companies “fulfill the demands of their respective responsibilities and functions”, he said in a post on X on Nov 2.
The internal audit “doesn’t exclude” state-owned asset manager Permodalan Nasional Bhd and other parties involved, he said in a follow-up post several hours later.
His directive comes days after the Finance Ministry said the two entities invested RM47 million in online fashion retailer FashionValet in 2018, and received an offer in late 2023 for their stakes. They eventually sold it for RM3.1 million – a loss that matches the amount Mr Anwar mentioned in his post.
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