PETALING JAYA: Khazanah Nasional Bhd has been ordered to conduct an internal audit over issues related to its RM43.9mil investment losses. In a post on X on Saturday (Nov 2), Prime Minister Datuk Seri Anwar Ibrahim who is also Khazanah chairman said he had ordered the sovereign wealth fund to conduct the internal audit.
“As chairman, I have directed Khazanah Nasional Berhad to conduct an internal audit to investigate the issues related to the recent investment losses amounting to RM43.9mil. “This firm directive is meant to reinforce my previous instruction to the National Audit Department (JAN) to audit 2,000 government-linked companies (GLCs) to establish a better governance system, as well as to ensure that all these companies fulfil their respective responsibilities and functions,” he said on his post on X on Saturday (Nov 2).
The Malaysian Anti-Corruption Commission (MACC) has initiated an investigation into losses incurred by Khazanah and Permodalan Nasional Berhad (PNB) from their investment in a local online fashion business. In a written Parliamentary response last week, the Finance Ministry said that Khazanah and PNB sold its shares in fashion e-commerce platform FashionValet for RM3.1mil, to NXBT Partners in 2023.
This has resulted in a loss of RM43.9mil. On Oct 22, Anwar said the government had recently decided that all 2,000 gazetted GLCs will be audited by the Auditor-General Department next year, during the Prime Minister question time in Dewan Rakyat.
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