MACC raids four locations including FashionValet
The raids were conducted as part of an investigation into reported losses incurred by Khazanah and PNB related to FashionValet.
KUALA LUMPUR - The Malaysian Anti-Corruption Commission (MACC) raided four locations related to a case involving Fashion Valet Sdn Bhd (FashionValet) here, today.
In a brief statement, the anti-graft agency said the four locations were raided as part of an investigation into reported losses incurred by Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB) related to FashionValet.
It said its officers were also present at the FashionValet office to investigate the investment loss involving public funds amounting to RM43.9 million.
The statement highlighted that the investigation into FashionValet was significant, as it involved a matter of public interest.
"Today, MACC uncovered issues surrounding FashionValet in relation to the investment losses experienced by Khazanah and PNB.
"The investigation process is being conducted under Section 18 of the MACC Act 2009," it said.
However, the statement did not disclose the four locations that were raided simultaneously.
At press time, Sinar is attempting to obtain further information regarding the raids.
