What led to RM43.9 million in investment losses by Khazanah and PNB?

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No Information Provided on Specific Causes of Investment Losses

The provided information does not detail the specific reasons or events that led to the RM43.9 million in investment losses incurred by Khazanah Nasional Bhd and Permodalan Nasional Bhd. The Malaysian Anti-Corruption Commission (MACC) has initiated an investigation into these losses, which has involved raids on several business premises, including that of a local fashion business. The inquiry is being conducted under Section 18 of the MACC Act, with the chief commissioner assuring a professional and impartial process.
MACC Raids Conducted in Relation to Investment Losses

The Malaysian Anti-Corruption Commission (MACC) recently conducted raids on four business premises, including the office of a local fashion business. These actions are part of an ongoing probe into significant investment losses experienced by Khazanah Nasional Bhd and Permodalan Nasional Bhd. The total sum of public funds reported to be lost amounts to RM43.9 million.
Investigation Under Section 18 of MACC Act

The investigation into the RM43.9 million investment losses is being carried out under Section 18 of the MACC Act. This section of the act typically pertains to offenses related to the gratification of an agent. The MACC has confirmed that the operation was conducted as part of the inquiry into the loss of these public funds.
Assurance of Impartial and Professional Inquiry

Tan Sri Azam Baki, the Chief Commissioner of the MACC, has publicly stated that the investigation will be conducted impartially and professionally. This assurance was given in response to the probe into the investment losses associated with Khazanah and PNB, which has led to the recent raids on business premises. The MACC is committed to a thorough examination of the matter.

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What led to RM43.9 million in investment losses by Khazanah and PNB?

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