Malaysia PM to probe sovereign fund for investing USD$10 million in online fashion retailer

Jasmime Kaur Darshan
Tue, 05 Nov 2024 08:06:02 +0000
Business, Malaysia, Corruption, Khazanah Nasional, Online retailer

MALAYSIA: Malaysian state funds are now USD10 million (RM43.9m) poorer thanks to an investment in a failed online fashion retailer. The investment by sovereign fund Khazanah Nasional has resulted in public outcry, resulting in Prime Minister Anwar Ibrahim calling for an audit. In a social media post, the PM said, “As chairman, I have instructed …