Khazanah Nasional's response to Auditor General report on its SPV

Khazanah Nasional says its special purpose vehicle, i2M Ventures, which was found wanting by the auditor general (AG), is no longer giving out new grants.
i2M was tasked to promote, market and manage businesses in Iskandar Puteri, however the AG found that it did not meet its objective.
Khazanah says existing recipients are being managed by Iskandar Investment Bhd (IIB) under the service level agreement signed in May 2020.
It says the strategic plan for i2M will align with IIB's business plan to develop the ecosystem in Iskandar Puteri.
Khazanah says it will always ensure proper governance and prudent financial practice in disbursing the remaining grants to the recipients.
The AG report asked Khazanah to review the relevance of i2M’s operations post 2025, when its commitments end.
Read more: shorturl.at/30OYy
----------------------------------
#NST #NSTTV
visit us at www.nst.com.my
our Facebook / nstonline
more news at / nst_online
and also / nstonline