KUALA LUMPUR: After the failed FashionValet investment, the Finance Ministry says government-linked investment companies (GLICs) will strengthen governance and risk management to prevent similar losses.
“With regard to investments in FashionValet by Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), these were managed as part of a broader portfolio whose performance is assessed on an overall basis, not on individual investments alone,” the ministry said in a written reply dated Nov 6.
