What governance concerns were raised about Xeraya Capital?

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Governance Concerns Raised Regarding Xeraya Capital

Prime Minister Datuk Seri Anwar Ibrahim has ordered a comprehensive investigation into Xeraya Capital, a wholly owned subsidiary of Khazanah Nasional Bhd, following concerns over the company's governance. These concerns were brought to light during a meeting with the Khazanah board, prompting the Prime Minister to instruct management to initiate a forensic investigation into potential financial irregularities. The investigation aims to adhere to the highest standards of governance and due process, with the possibility of involving external authorities if deemed necessary.
Identification of Documentation Irregularities

In July 2026, the Xeraya Capital Board, while fulfilling its governance oversight duties, identified discrepancies in the documentation related to past transactions. This discovery led the board to initiate a further review of these transactions to understand the nature and extent of the irregularities.
Legacy Issues Involving Life Sciences Investments

Khazanah Nasional Bhd, in accordance with its established governance standards, flagged legacy issues that require resolution, including those connected to Xeraya Capital. Xeraya Capital is responsible for managing Khazanah's investments within the life sciences sector.
Prime Minister's Directive for Forensic Investigation

Following the meeting with the Khazanah board, Prime Minister Anwar Ibrahim, who also chairs Khazanah, directed the management to commence a forensic investigation. This instruction underscores the commitment to upholding robust governance and due process in examining the company's operations and financial dealings.

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What governance concerns were raised about Xeraya Capital?

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