Xeraya initiates proactive measures after concerns over ‘legacy issues’
The Khazanah subsidiary says it is ready to assist in any inquiry into the matter.
Khazanah Nasional Bhd's subsidiary, Xeraya Capital Sdn Bhd, has taken proactive steps to address concerns over legacy issues within the venture capitalist and private equity firm. Established in 2012, Xeraya manages Khazanah's Life Sciences investments. In adherence to their commitment to good governance, accountability, and transparency, the board of Xeraya has already initiated reviews to identify and rectify any issues, while strengthening oversight processes as needed.
The board remains fully committed to cooperating with Khazanah and all relevant stakeholders, offering complete assistance and support for any required reviews or inquiries.
Expressing their dedication to maintaining the highest standards of governance and stewardship, Xeraya pledged to take appropriate measures to uphold these principles in the best interests of the company and its stakeholders. The Prime Minister, Anwar Ibrahim, had recently ordered an investigation into possible financial irregularities involving Xeraya, following Khazanah's review of past operations.
The board of Xeraya had identified irregularities in past transactions that necessitate further investigation, as revealed by Khazanah.
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- Xeraya initiates proactive measures after concerns over ‘legacy issues’ freemalaysiatoday.com
