Investigation Paper On FashionValet Completed - MACC

PUTRAJAYA, Nov 28 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) has completed the investigation paper on the investments made by several government entities in the e-commerce platform FashionValet Sdn Bhd (FashionValet), said its Chief Commissioner Tan Sri Azam Baki.

He said the investigation paper has been handed over to the commission’s Legal and Prosecution Division director for review and consideration. 

“The outcome of the investigation will be obtained soon,” he said in a statement today.

Previously, Prime Minister Datuk Seri Anwar Ibrahim had instructed Khazanah Nasional Bhd (Khazanah) to conduct an internal audit following the RM43.9 million investment loss in FashionValet.

Anwar, who is also Khazanah chairman, said this directive was in line with his earlier mandate for the National Audit Department to assess over 2,000 government-linked companies.

In 2018, Khazanah and Permodalan Nasional Berhad invested RM27 million and RM20 million, respectively, each taking minority stakes in FashionValet.

When announcing that MACC had opened an investigation paper on the investment loss, Azam vowed that the commission would conduct a fair and professional investigation.

-- BERNAMA