Governance
Malaysia orders investigation into Khazanah subsidiary Xeraya Capital
Malaysia's prime minister ordered an investigation into Khazanah subsidiary Xeraya Capital after its board identified governance irregularities connected with past transactions. Reuters reported that Xeraya manages Khazanah's life-sciences investments and that the investigation covers potential governance breaches, with external authorities to be involved where necessary.
Malaysia’s Prime Minister Anwar Ibrahim ordered an investigation into Khazanah subsidiary Xeraya Capital after its board identified governance irregularities linked to past transactions. Xeraya manages Khazanah’s life-sciences investments. Reuters reported that Khazanah’s board ordered a comprehensive investigation into potential governance breaches. Xeraya’s board had identified documentation irregularities in July that warranted further review, and Anwar said a forensic investigation should meet the highest standards of governance and due process, involving external authorities where necessary.