Malaysian PM orders audit of wealth fund loss

Quick Summary:

Malaysian Prime Minister Anwar Ibrahim ordered the sovereign wealth fund Khazanah Nasional Berhad to carry out an internal audit to investigate issues related to 43.9 million ringgit ($10 million) in investment losses.

The Finance Ministry said this week that the investment by Khazanah and PNB in FashionValet was aimed at supporting local tech entrepreneurs and digital retail firms.

NXBT Partners, which is “led by a seasoned Malaysian entrepreneur”, offered to buy existing shareholders’ stakes and inject capital into the firm, it said.

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Article Details

Category: EconomyBusiness

Markets: ThailandIndiaMalaysia

Topics: Khazanah Million Losses Ringgit Malaysian Total Anwar Post Investment Fashionvalet

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-02 @ 20:13:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 384 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 23370256

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Official Website: bangkokpost.com

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