{
  "id": 14907283,
  "title": "Fashion Valet received nearly RM40mil from Khazanah, PNB in 2018, court told",
  "url": "https://urgent.news/2026/10/16/fashion-valet-received-nearly-rm40mil-from-khazanah-pnb-in-2018-court",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-10-16T07:57:02.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/news/nation/2026/10/1556820/fashion-valet-received-nearly-rm40mil-khazanah-pnb-2018-court-told"
  },
  "original_language": "en",
  "account": "In 2018, Fashion Valet Sdn Bhd received nearly RM40 million in investment funds from Khazanah Nasional Bhd and Permodalan Nasional Bhd, according to Bukit Damansara Public Bank Bhd's banking services manager Tay Lay Hong. The funds were transferred in four transactions between March and December, with Khazanah transferring RM7.84 million on March 23 and RM11.74 million on March 26. PNB's transfers were RM11.95 million on June 4 and RM8.36 million on December 20. Tay also testified to an RM11 million withdrawal from Fashion Valet's account on August 21, which was categorized as PAYNET DIRECT DEBIT. This withdrawal was confirmed to be a bulk payments online transaction, though the authorized person for this transaction was unclear. Additionally, a RM5 million transaction from 30 Maple Sdn Bhd was credited to Fadzarudin Shah Anuar's personal account on September 4, and RM5 million was transferred to Vivy Sofinas' personal account on September 3, bringing the total personal account credits to RM10 million. The bank statements also recorded RM5.5 million in cash withdrawals from the personal accounts of the two founders on September 5 at a Public Bank branch outside of the Bukit Damansara branch where the alleged criminal breach of trust occurred.",
  "summary": "KUALA LUMPUR: The Sessions Court was told today that Fashion Valet Sdn Bhd received nearly RM40 million in investment funds from Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB) in 2018.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Fashion Valet received close to RM40mil from Khazanah and PNB, court told",
        "url": "https://urgent.news/2026/10/16/fashion-valet-received-close-to-rm40mil-from-khazanah-and-pnb-court",
        "published": "2026-10-16T07:49:00.000Z"
      },
      {
        "outlet": "Malaysiakini",
        "title": "Fashion Valet received nearly RM40m from Khazanah, PNB in 2018, court told",
        "url": "https://urgent.news/2026/10/16/fashion-valet-received-nearly-rm40m-from-khazanah-pnb-in-2018-court",
        "published": "2026-10-16T08:31:25.000Z"
      },
      {
        "outlet": "The Vibes",
        "title": "Court hears RM40m in Khazanah, PNB investments paid into Fashion Valet accounts",
        "url": "https://urgent.news/2026/10/16/court-hears-rm40m-in-khazanah-pnb-investments-paid-into-fashion-valet",
        "published": "2026-10-16T09:23:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}