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No interference in Khazanah probe even though I’m chairman: Anwar | Scoop
Prime Minister Datuk Seri Anwar Ibrahim promises not to interfere in anti-graft investigations into Khazanah Nasional Bhd, of which he is chairman. - Bernama pic, November 2, 2024
News

No interference in Khazanah probe even though I’m chairman: Anwar

PM says government-linked companies not exempt from investigations, also cites National Farmers' Organisation in current alleged scandal involving paddy fertiliser cartel

Scoop Reporters
Updated
2:22 PM MYT

 

BUTTERWORTH — Prime Minister Datuk Seri Anwar Ibrahim has insisted he will not block or interfere in the anti-graft agency’s probe into Khazanah Nasional Bhd (Khazanah) even though he is its chairman.

He said the investigation must be done fairly regardless of rank and position, even if it involved a government-linked company.

“The chairman of Khazanah is the PM. But I’m not preventing the investigation.

“It doesn’t matter if the PM is chairman or not. If there is wrongdoing, investigate. If there is wrongdoing, prosecute. If there is wrongdoing, punish,” Anwar said today at an event for hawkers and petty traders at the PICCA Convention Centre here in Penang today.

Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki has confirmed opening an investigation into Khazanah, as well as Permodalan Nasional Bhd (PNB) over RM43.9 million worth of losses incurred by both from failed investments in e-commerce platform Fashion Valet Sdn Bhd (FashionValet).

Azam said the probe is necessary as taxpayers’ funds were involved.

Khazanah, in 2018, had invested RM27 million into the country’s first local fashion e-commerce website while PNB had contributed RM20 million.   

It was revealed in a parliamentary written reply last week that Khazanah and PNB had sold their combined RM47 million stake in Fashion Valet for a mere RM3.1 million.

After public outcry, Khazanah in a statement blamed challenges during the Covid-19 pandemic that forced FashionValet to shift its focus from operating as an e-commerce platform for Asean products to promoting its in-house brands dUCk and Lilit instead. 

PNB, meanwhile, clarified that its investment in FashionValet was made using its proprietary fund and not the unit trust funds under Amanah Saham Nasional Bhd (ASNB) subscribed by the public.

The investment in FashionValet was part of the GLCs’ agenda to support a “high-potential” Bumiputera company.

Anwar today also cited another investigation into the National Farmers’ Organisation (NAFAS), which had its constitution suspended yesterday following internal conflict over its management and governance.

Nafas, which is an agency of the Agriculture and Food Security Ministry, is also under investigation by MACC over alleged irregularities and leaks in a paddy fertiliser supply project.

On Oct 29, MACC chief Azam confirmed the agency had launched an investigation into an alleged cartel involved in the distribution and supply of RM1.8 billion worth of paddy fertiliser contracts awarded by an organisation under a ministry.

The organisation is responsible for producing fertiliser for paddy and distributing it to farmers across the country through its state-level offices.

On Oct 31, MACC confirmed the arrest of a chairman of a foreign company in connection with a probe into irregularities. – November 2, 2024

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