KUALA LUMPUR: Following the FashionValet scandal, the Finance Ministry stated that government-linked investment companies (GLICs) will continue to improve their governance practices, particularly concerning investment evaluation and ongoing monitoring processes.
“With regard to investments in FashionValet by Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB), the investments of these two institutions are managed as part of a portfolio whose performance is assessed based on the overall portfolio, rather than on individual investments alone,” the ministry said in a parliamentary written reply dated Nov 6.
