Anwar’s directive comes days after the Finance Ministry said the two entities invested a total of 47 million ringgit in online fashion retailer FashionValet in 2018, and received an offer in late 2023 for their stakes. They eventually sold it for 3.1 million ringgit — a loss that matches the amount Anwar mentioned in his post.
Malaysian Prime Minister Anwar Ibrahim ordered sovereign wealth fund Khazanah Nasional Berhad to carry out an internal audit to investigate issues related to 43.9 million ringgit ($13.24 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, formerly Twitter, on Saturday. The internal audit “doesn’t exclude” state-owned asset manager Permodalan Nasional and other parties involved, he said in a follow-up post several hours later.
