fbpx
Connect with us

News

Khazanah Nasional’s Entire Board Of Directors Have All Officially Resigned

Published

Khazanah Nasional'S Entire Board Of Directors Have All Officially Resigned - World Of Buzz 1
Source: The Star

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

With the Pakatan Harapan government in place, many high-ranking officials and directors have offered their resignations. Now, it looks like Khazanah Nasional Berhad is the next organisation to go through such a change!

According to a media statement released by the sovereign wealth fund this morning (26th July), Khazanah Nasional announced that all members of its board of directors, including the managing director, Tan Sri Azman Mokhtar, have offered their resignations in efforts to “facilitate a smooth and orderly transition under the new government”.

According to the Malay Mail, a total of nine members of the board resigned, including Datuk Seri Nazir Razak (chairman of CIMB Group and brother of former prime minister Najib Tun Razak), Tan Sri Md Nor Md Yusof, Tan Sri Mohamed Azman Yahya, Datuk Mohammed Azlan Hashim, Tan Sri Andrew Sheng Len Tao (former Bank Negara Malaysia official), Tan Sri Raja Arshad Raja Uda, Datuk Nirmala Menon, and Yeo Kar Peng.

The board members’ mass resignation has reportedly come after Prime Minister Tun Dr Mahathir Mohamad openly criticised Khazanah for “deviating from the original purpose of its creation”.

Khazanah recently caught the nation’s attention when news of the fund allegedly giving the former Barisan Nasional (BN) government RM1.2 billion to help pay for 1Malaysia Development Berhad’s (1MDB) dues to Abu Dhabi fund IPIC in mid-2017 surfaced in light of Pakatan Harapan’s (PH) historic win in GE14.

Khazanah Reportedly Gave Bn Government Rm1.2 Billion To Pay For 1Mdb Dues - World Of Buzz

Source: the star

In exchange for the money, Khazanah was reportedly given redeemable shares owned by the Ministry of Finance. In response to reports about this issue, the sovereign wealth fund clarified in a statement, saying,

“The Ministry of Finance exercised its right in August 2017 to redeem outstanding Redeemable Convertible Cumulative Preference Shares amounting to 1.2 billion ringgit, which were issued to the ministry in 2011.”

However, they did not comment on claims that the funds were used to pay off 1MDB’s debts.

What are your thoughts on this recent mass resignation? Let us know in the comments below!

 

Also read: 5 Malaysian Heads & CEOs Who Unexpectedly Resigned Since May 2018

5 Malaysian Heads &Amp; Ceos Who Have Resigned In The Past Month - World Of Buzz 5

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 21 Collage 21
News9 hours ago

“Allah planned it this way” – Kelantan Deputy MB Responds to Arrest of Kelantanese Singer in Thailand

Just recently, a Kelantanese singer with 5 other individuals was arrested by Thai Police. 6,000 meth pills were also found...

My Post 1 2024 11 04T150004.665 My Post 1 2024 11 04T150004.665
News11 hours ago

Anthony Loke: Govt Will Cease The Sales & Registration of NGV Nationwide Starting July 2025

Starting from July 1, 2025, all vehicles using natural gas (NGV) will no longer be allowed to be registered or...

Collage 14 1 Collage 14 1
News11 hours ago

Zahid Hamidi: Johor to Introduce RM4K Starting Salary for Skilled Workers with Diploma, RM5K for Degree

The launch of the Johor Talent Development Council (JTDC) has made Johor the first state in Malaysia to establish a...

Feat Image Jail Ic Feat Image Jail Ic
News12 hours ago

This Controversial Law Can Land M’sians Up to 5-Year Jail, RM50K Fine Just for Not Having MyKad with Them

There have been many viral stories in the past about Malaysians finding themselves in trouble with the authorities for not...

My Post 1 2024 11 04T122638.683 My Post 1 2024 11 04T122638.683
News14 hours ago

M’sian Teenager Sentenced to Life in Prison in the UK for Attacking Sleeping Schoolmates with Hammer

A Malaysian teenager has been sentenced to life in prison in the United Kingdom (UK) after he attacked 2 of...

Collage 13 1 Collage 13 1
News14 hours ago

After 5 Months, Bodyguard Who Allegedly Assaulted OKU E-Hailing Driver Will be Charged in KL High Court

In an incident that occurred in May, a Malaysian e-hailing driver with a disability was reportedly punched by an escort...

Collage 12 1 Collage 12 1
News15 hours ago

Moo Deng, The Cute Baby Hippo Taking World by Storm, Wins Video of the Year at TikTok Awards Thailand!

Moo Deng has blown up on TikTok, where her cute videos have racked up millions of views. With her chubby...

Feat Image Tgif Feat Image Tgif
News1 day ago

Popular Restaurant Chain TGI Fridays Files for Bankruptcy Due to Prolonged Financial Challenges

Popular restaurant chain TGI Fridays has filed for bankruptcy in the United States after suffering prolonged financial challenges and a...

Announcement

Latest Videos



TRENDING TODAY