KUALA LUMPUR, Oct 16 — The Sessions Court here was told today that local fashion company, Fashion Valet Sdn Bhd (Fashion Valet), received investment funds totalling nearly RM40 million from Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB) eight years ago.

Tay Lay Hong, 54, a banking services manager at the Bukit Damansara branch of Public Bank, said the funds were deposited into a Public Bank account belonging to Fashion Valet through four separate transactions between March and December 2018.

“A review of Fashion Valet’s bank account statements revealed that Khazanah transferred RM7,848,000 on March 23, 2018, and RM11,742,000 on March 26, 2018, while PNB recorded transfers of RM11,953,500 on June 4, 2018, and RM8,364,996 on December 20, 2018,” she said.