KUALA LUMPUR: The founding couple of FashionValet Sdn Bhd, implicated in the financial losses of Khazanah Nasional Bhd and Permodalan Nasional Bhd, are set to be charged at the Kuala Lumpur Sessions Court on Thursday. The Malaysian Anti-Corruption Commission (MACC) chief commissioner, Tan Sri Azam Baki, confirmed their arrest and subsequent release on bail pending their court appearance.

According to BERNAMA News Agency, the MACC had previously completed its investigation into the investments made by several government entities in FashionValet, an e-commerce platform. This development follows Prime Minister Datuk Seri Anwar Ibrahim’s directive for Khazanah to conduct an internal audit concerning the RM43.9 million investment loss in the company.

Anwar, serving also as the chairman of Khazanah, emphasized the necessity of this audit, aligning it with his earlier directive for the National Audit Department to assess around 2,000 government-linked companies. Back in 2018, Khazanah and PNB invested RM27 million
and RM20 million respectively, acquiring a minority stake in FashionValet.