KUALA LUMPUR — Prime Minister Datuk Seri Anwar Ibrahim has ordered a comprehensive investigation into Xeraya Capital, a wholly owned subsidiary of Khazanah Nasional Bhd, to identify any potential financial irregularities.
Anwar, who is also Khazanah chairman, said a meeting with the sovereign wealth fund’s board of directors, which he chaired today, found that the subsidiary, established in 2012, had raised concerns over governance matters, Bernama reported.
He made the remarks during the Temu Anwar session after officiating the Himpunan Anak Muda Kebangsaan (HAMKA) International 2026 here today.
Earlier, in a statement issued by Khazanah, Anwar said that after being briefed by the board of directors on the matter, he had instructed the management to begin a forensic investigation in line with the highest governance standards and proper procedures.
According to Khazanah, the meeting also highlighted legacy issues that needed to be addressed, particularly those involving Xeraya Capital, which manages Khazanah’s investments in the life sciences sector.
In July 2026, Xeraya’s board of directors, while carrying out its governance oversight responsibilities, identified irregularities in documentation related to previous transactions that required further review.
At the end of the meeting, Anwar said: “Overall, I am satisfied with the progress achieved by Khazanah and its management team. I want to encourage them to continue their efforts in Advancing Malaysia by Raising the Ceiling and Raising the Floor, while Upholding Good Governance, in line with the principles of the MADANI Economy.”
“I appreciate Khazanah’s management for its proactive and thorough approach, as well as upholding high governance standards,” he said.
During the HAMKA session, Anwar, who is also Finance Minister, said firm action to expose management misconduct involving government-linked companies was not personal, but necessary to ensure losses did not ultimately affect the people.
He also cited recent developments involving alleged mismanagement at the Federal Land Development Authority (Felda), including the sale of a hotel.
“Previously, those who managed Felda, former chairman Tan Sri Taib Andak and Tun Raja Muhammad Alias, ran it efficiently despite not being experts in economics or accounting. However, they managed it well, generated billions in profits, and the plantations in Malaysia, including Felda, were among the largest in the country,” he said.
“Then certain politicians interfered. A hotel priced at RM100 million was bought for RM160 million, and now (the issue is) still unresolved,” Anwar said.
Taib Andak served as Felda chairman from 1958 to 1971, while Raja Muhammad held the position from 1979 to 2001.
Anwar also expressed his frustration over corruption and reiterated his commitment to taking action against any wrongdoing under his administration. - August 20, 2026
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