2 state-linked firms must explain US$10.1 million loss investing in fashion e-commerce platform: Malaysia minister
Cătălin Roșioru
Government-linked firms Khazanah Nasional and Permodalan Nasional Berhad sold their minority investments in FashionValet at the end of 2023 for only RM3.1 million, marking a significant loss from initial RM47 million investments in 2018. KUALA LUMPUR: Two Malaysian government-linked firms - including its sovereign wealth fund - have been urged to address public concerns over their recent loss-making investments in FashionValet, which is the country’s first fashion e-commerce platform. Khazanah
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