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.
Prime Minister Anwar Ibrahim has ordered an investigation into potential financial irregularities involving a subsidiary of Khazanah Nasional, a sovereign wealth fund. The matter arose after Khazanah reviewed its past operations and discovered a company established in 2012, which raised concerns over its governance. Despite the current chairman of Khazanah being the prime minister, Anwar stated that he insisted on investigating any breaches of governance.
Khazanah's board decided to investigate all relevant aspects of the matter during a meeting at the UEM building. Khazanah acknowledged "legacy issues" related to Xeraya Capital, a wholly-owned subsidiary founded 14 years ago, and identified irregularities in past transactions that required further review. Anwar emphasized that the allegations are not politically motivated and that investigations into alleged wrongdoings in the Royal Commission of Inquiry (RCI) reports on Tabung Haji and Felda were not influenced by political revenge.
The investigation would be determined by the police and Malaysian Anti-Corruption Commission, with prosecution left to the attorney-general. Anwar clarified that the government would not interfere in these investigations or decisions on prosecution, stating that the judge, not the prime minister, would mete out punishment.
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