Nation

PAC to discuss need to summon FV, Khazanah and PNB officials

KUALA LUMPUR: The Public Accounts Committee will soon discuss whether to summon representatives from FashionValet Sdn Bhd (FV), Khazanah Nasional Bhd and Permodalan Nasional Bhd.

PAC chairman Datuk Mas Ermieyati Samsudin said the committee had received calls from various parties to summon the relevant individuals following investment losses incurred by Khazanah and PNB.

"There have been suggestions from various parties, including members of parliament, civil servants, entrepreneurs and others for PAC to call those involved.

"I need to bring this matter to the PAC members for discussion soon. If the committee agrees and finds it necessary, they will be summoned," she told Berita Harian today.

FV has come under scrutiny following investment losses borne by Khazanah and PNB.

The company was reported to have suffered losses for five consecutive years before the two government-linked investment firms invested.

A review of the company's financial filings between 2012 and 2017 showed FV's losses grew to RM10.7 million in 2017, compared to RM166,793 in 2012, before Khazanah and PNB invested in the company in 2018.

This financial information was obtained from filings with the Companies Commission of Malaysia.

Various parties have called for action, including suggestions for establishing a Royal Commission of Inquiry to investigate alleged mismanagement surrounding FV.

Most Popular
Related Article
Says Stories