KUALA LUMPUR, Nov 3 — Capital A Group (formerly AirAsia Group) president Aireen Omar has rejected allegations of fraud and abuse behind the losses at Fashion Valet Sdn Bhd, saying she was privy to its finances as a director.

In a preview clip of her appearance on the "Apa Cerita Podcast”, the former AirAsia chief executive officer said losses were part of reality for any business.

"There is no such thing as scandal or fraud or siphoning of money. Not at all!

"I mean, I sit on the board and I look at the numbers, and definitely, there’s no such thing lah!” she said in the clip.

Aireen also conceded that it was impossible to prevent such speculation, but suggested that critics "have a life and look at other things” instead.

Earlier today, Umno Youth chief Dr Muhamad Akmal Saleh proposed a royal commission of inquiry into the losses incurred at sovereign wealth fund Khazanah Nasional through investments in Fashion Valet Sdn Bhd.

Yesterday, Prime Minister Datuk Seri Anwar Ibrahim ordered Khazanah Nasional to conduct an internal audit over its investment in FashionValet, which incurred a loss of over RM43 million that the Malaysian Anti-Corruption Commission is also investigating.

FashionValet founders Datuk Fadza Anuar and Datin Vivy Yusof have also resigned from the firm and pledged to take "full responsibility” for the failed investment, albeit without explaining what this entailed.

In 2018, Khazanah Nasional and Permodalan Nasional Bhd (PNB) invested a combined RM47 million in FashionValet, with Khazanah contributing RM27 million and PNB RM20 million, to acquire minority stakes.

The two government-linked investment companies later divested their stake for RM3.1 million.