KUALA LUMPUR, Nov 2 — The Malaysian Anti-Corruption Commission (MACC) is set to release an official statement today regarding the RM43.9 million loss incurred by Khazanah Nasional Berhad and Permodalan Nasional Berhad (PNB) from their investment in Fashion Valet Sdn Bhd.
In a report published in Berita Harian today, sources close to the Malay daily revealed that the statement will address the recent reports quoting MACC Chief Commissioner Tan Sri Azam Baki, who confirmed that the agency had initiated an investigation into the investment, citing it as a matter of public interest given its use of public funds.
Azam was earlier quoted saying that the investigation into the FashionValet investment is crucial as it involves public funds and interests,
The announcement comes just a day after FashionValet’s co-founders Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar stated they would step down from their positions at FV in response to the controversies surrounding Khazanah and PNB’s investment and subsequent sale of stakes in the company.
On October 29, the Finance Ministry disclosed to the Dewan Rakyat that Khazanah and PNB’s combined investment of RM47 million in FV back in 2018, originally for minority stakes, had been sold for a mere RM3.1 million, resulting in a substantial loss.
Earlier today, Prime Minister Datuk Seri Anwar Ibrahim, who also chairs Khazanah, affirmed that he would not interfere with any MACC investigation into Khazanah’s dealings.
However, he did not comment on any specific case.
