Published
The nation's sovereign wealth fund Khazanah Nasional had invested US$20 million (RM80 million) into lingerie, revealed Economic Affairs Minister Azmin Ali.
The disclosure was in response to former premier Najib Abdul Razak (BN-Pekan) disputing the allegation that Khazanah had strayed from its original objectives.
"An an example, Khazanah invested almost US$20 million through an online retailer that sells lingerie... bras. In the end, the investment had to be written off. This was the smallest instance," he said.
A more serious instance, he said, was Khazanah having to write off RM3 billion in investments.
The disclosure was in response to former premier Najib Abdul Razak (BN-Pekan) disputing the allegation that Khazanah had strayed from its original objectives.
"An an example, Khazanah invested almost US$20 million through an online retailer that sells lingerie... bras. In the end, the investment had to be written off. This was the smallest instance," he said.
A more serious instance, he said, was Khazanah having to write off RM3 billion in investments.
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