Anwar orders probe into possible irregularities in Khazanah subsidiary
The prime minister says the company was established in 2012 and possible financial irregularities came up after Khazanah reviewed its past operations.
Malaysia's Prime Minister Anwar Ibrahim has directed an investigation into possible financial irregularities within a Khazanah Nasional subsidiary, emphasizing that any breach of governance must be scrutinized, regardless of the chairperson. During a "Temu Anwar" session, Anwar disclosed that the matter arose following Khazanah's review of its past operations, which revealed doubts over governance due to the establishment of a company in 2012.
The Prime Minister stated, "I said even though the current chairman is the prime minister, I said if there is any breach of governance, investigate it. We must be firm." Khazanah's board subsequently resolved at a meeting held at UEM building to investigate all relevant aspects of the matter to "clean things up."
Meanwhile, Khazanah disclosed in a statement that it had identified "legacy issues" concerning Xeraya Capital, a wholly-owned subsidiary established 14 years ago. Xeraya manages Khazanah's Life Sciences investments. In July, the Xeraya board recognized irregularities in past transactions that necessitated further review. Anwar assured that the investigations into alleged wrongdoings highlighted in the Royal Commission of Inquiry (RCI) reports on Tabung Haji and Felda are not politically motivated.
He stated that the police and Malaysian Anti-Corruption Commission will determine if an investigation is necessary, and the attorney-general has the authority to prosecute any wrongdoing. Anwar emphasized that the government will not interfere in these investigations or the decisions on prosecution, which are the responsibilities of the enforcement agencies and the attorney-general, respectively.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
