KUALA LUMPUR: The Public Accounts Committee (PAC) is expected to commence proceedings on the FashionValet controversy in the second week of December.
Its chairman Datuk Mas Ermieyati Samsudin (pic) said Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) officials will be summoned to the proceedings.
ALSO READ: Khazanah, PNB sold FashionValet stakes at a loss of RM43.9mil, says Finance Ministry
“PAC will begin proceedings regarding investment losses by Khazanah and PNB towards FashionValet, which involved losses of public funds amounting to RM43.9mil, by summoning Khazanah and PNB," she told a press conference in the Parliament building on Thursday (Nov 7).
In a parliamentary written reply last week, the Finance Ministry said Khazanah and PNB sold their shares in the e-commerce platform for RM3.1mil to NXBT Partners last year.
A RM47mil investment was made by Khazanah and PNB in 2018, amounting to RM27mil and RM20mil respectively, for minority stakes in FashionValet.
ALSO READ: MPs continue demand for answers over FashionValet issue
Company founders Datin Vivy Yusof and Fadzaruddin Shah Anuar have apologised for the losses and said they would step down from their positions as chief executive officer and executive director respectively.
Vivy and Fadzaruddin are currently being questioned by the Malaysian Anti-Corruption Commission (MACC) over the investment losses linked to Khazanah and PNB.
ALSO READ: MACC raids FashionValet founders' house, freeze accounts containing RM1.1mil
On Wednesday (Nov 6), MACC searched Vivy and Fadzaruddin's home and froze several of their accounts with RM1.1mil in funds.
The search ended at 8pm, and the goods seized included 11 handbags and a luxury watch estimated at a total value of RM200,000.
