PAC wants audit on Singapore investment over heavy losses

AMANAH Raya Bhd (ARB) must conduct an audit on its accumulated losses, especially in relation to the 56 units of property in the investment project at Keppel Bay, Singapore, says Public Accounts Committee (PAC) chairman Wong Kah Woh.

In a statement, Wong said the investment performance of Kumpulan Wang Bersama (KWB), a fund managed by ARB, was not encouraging and contributed to an accumulated loss of RM1.023bil in 2019.