KLANG: Prime Minister Anwar Ibrahim has ordered an investigation into possible financial irregularities involving a Khazanah Nasional subsidiary, saying any breach of governance must be investigated regardless of who chairs the sovereign wealth fund.
Speaking at a “Temu Anwar” session, Anwar revealed that the matter came up after Khazanah reviewed its past operations.
“I asked Khazanah to look into its history. This was done very well by Khazanah, but as they dug deeper, it emerged that there was a company established in 2012 which raised doubts over its governance,” he said during a question-and-answer session.
“What was my decision? I said even though the current chairman is the prime minister, I said if there is any breach of governance, investigate it. We must be firm.”
He said Khazanah’s board decided at a meeting at the UEM building this morning to investigate all relevant aspects of the matter so that “we can clean things up”.
Meanwhile, in a statement, Khazanah said it had highlighted “legacy issues” related to Xeraya Capital, a wholly-owned subsidiary founded 14 years ago.
Xeraya manages Khazanah’s Life Sciences investments.
“In July, the Xeraya board identified irregularities relating to past transactions that warranted further review.”
Not politically driven
Separately, Anwar said investigations into alleged wrongdoings highlighted in the Royal Commission of Inquiry (RCI) reports on Tabung Haji and Felda were not motivated by political revenge.
He said the police and Malaysian Anti-Corruption Commission would determine if an investigation was necessary.
Similarly, it was up to the attorney-general to prosecute any wrongdoings.
“Who metes out the punishment? The judge, not the prime minister.”
Anwar said the government would not interfere in investigations or decisions on prosecution, which were the responsibility of enforcement agencies and the attorney-general respectively.
