Give time for Khazanah, PNB to explain losses in RM47m FashionValet investment, Fahmi tells Malaysians

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Road users up north can bypass Menora Tunnel in four more years, works minister projects RM6.2b West Ipoh highway to complete by 2028 and cut NSE traffic by 40pcCommunications Minister Fahmi Fadzil today told the public to give Permodalan Nasional Berhad and Khazanah Nasional Bhd some time to explain their losses in Fashion Valet Sdn Bhd investment.

“Of course because it involved public funds, and now we are seeing a lot of content surfacing regarding the kinds of things that may have been going on. But, to be fair to all parties involved, like Khazanah and FashionValet, I think we should give them a bit of time to explain themselves,” he told reporters at the sidelines of the Madani Deepavali Open House at Sentul Depot, here.

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After RM47m investment in FashionValet, Khazanah and PNB only got RM3.1m from sale; Finance Ministry says loss ‘negligible’KUALA LUMPUR, Oct 29 — Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB) received RM3.1 million from the sale of their shares in Fashion Valet Sdn Bhd...
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Khazanah, PNB sold FashionValet stakes at a loss of RM43.9mil, says Finance MinistryAlmost one in five of the workforce in Guangzhou have turned to work in flexible contracts, higher than China’s national level of 14.3%.
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