The MACC is investigating a RM43.9 million loss by Khazanah and PNB from FashionValet investments.

The Malaysian Anti-Corruption Commission (MACC) is investigating a significant loss of RM43.9 million by Khazanah Nasional Berhad and Permodalan Nasional Berhad (PNB) from their investment in the e-commerce platform FashionValet. The probe, led by Chief Commissioner Azam Baki, aims to uncover potential criminal or governance issues linked to public funds. This follows the companies' divestment of their minority stakes, which were initially valued at RM47 million.

November 02, 2024
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