KUALA LUMPUR – Xeraya Capital Sdn Bhd has pledged to cooperate fully with any review or investigation following concerns raised by its parent company, Khazanah Nasional Berhad, over documentation issues involving previous transactions.
In a statement on Thursday, Xeraya said its board of directors had taken note of Khazanah’s announcement and regarded the concerns raised as a serious matter.
The investment firm said it had already begun taking proactive measures to examine the issues highlighted and enhance its oversight mechanisms where necessary.
“In line with our commitment to good governance, accountability and transparency, the Board has already initiated proactive measures to review the matters highlighted and strengthen oversight processes where necessary,” the company said.
Xeraya’s board also reaffirmed its commitment to working closely with Khazanah and other relevant stakeholders throughout the process.
“The Board remains fully committed to cooperating with Khazanah and all relevant stakeholders,” it said.
The company added that it was prepared to provide full support and assistance for any review, inquiry or engagement that may be required.
It said the measures were aimed at ensuring the highest standards of governance and stewardship continued to be upheld in the interests of the company and its stakeholders.
The development follows Khazanah’s announcement that it had initiated a forensic investigation into legacy issues involving Xeraya after irregularities were identified in documentation related to past transactions.
Prime Minister Datuk Seri Anwar Ibrahim, who is also Khazanah chairman, said the matter came to light in July when Xeraya’s board, as part of its governance oversight responsibilities, identified documentation irregularities requiring further examination.
Following a briefing by Khazanah’s board of directors, Anwar instructed the sovereign wealth fund’s management to begin a forensic investigation in line with strict governance standards and due process.
“After the Board of Directors was informed of the matter, I instructed Khazanah’s management to commence a forensic investigation in accordance with the highest standards of governance and due process and, if necessary, involving the relevant authorities,” Anwar said.
The issue was discussed during the third Khazanah Board of Directors meeting for 2026, chaired by Anwar on Thursday.
Khazanah said the meeting also addressed legacy matters requiring attention, particularly those involving Xeraya Capital, which manages investments related to Malaysia’s life sciences sector.
At the conclusion of the meeting, Anwar said he was satisfied with the progress made by Khazanah and its management team.
“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,” he said.
“I appreciate Khazanah’s management for its proactive and thorough approach, as well as upholding high governance standards,” he added.
During the Himpunan Anak Muda Kebangsaan (HAMKA) International 2026 session, Anwar said decisive action against misconduct involving government-linked companies was not driven by personal motives, but was necessary to protect public interests.
He also referred to recent concerns involving alleged mismanagement at the Federal Land Development Authority (Felda), including issues surrounding the purchase and 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 reiterated his commitment to taking firm action against corruption and any wrongdoing under his administration. – August 20, 2026