Fashion Valet: A RM43.9 Million Loss. What's Behind It?

[@danielliaw]

If a company that is not making business but paying high salary to director. Red flag

[@MrMoneyTV]

Agree. Directors and CEO should be rewarded according to performance. Base salary should be fair at market value benchmarked against companies with similar performance.

[@burongkakak]

Sounds like sapura energy 😂😂😂

[@mrkacang7277]

at one point the shahril guy was the highest paid CEO in the world at the O&G sector, surpassing even Shell and Aramco. While Sapura was in RM 16 billion in debt and not getting tenders, he was casually bringing home RM 200,000 every single day 😂😂

[@burongkakak]

@@mrkacang7277 even now during restructuring, the director fees stand at 3mil, a lot of listed company don't even pay that kind of money for director fees

[@oliverodell3105]

Especially for public fund investment. The mission to invest in Bumi startups doesn't excuse an underlying expectation to make profits on investments.

[@geddit1]

She's a good businesswoman for holding onto a company (FV) that was losing money. Creative accounting is good until you are caught..

[@HYU781]

Investing in Fashion Valet may be a justifiable investment back then. If we dig deeper into Kazanah and PNB portfolio, we might find hanky panky investment. GDV value of 1 billion ringgit in a mixed development in Lorong Maroof in Bangsar abandoned since 2019 because of design gone wrong. Turns out appointment of consultant related to some PNB executives. It’s these kind of stuff that make people furious. Not losing of money.

[@limwk003]

One of the best n honest KZbin show in Malaysia man

[@fazlinamrasip4547]

Firstly, when I saw the Vivy Wear branded items in the snow, I thought, 'Dia tak sayang ke the items?' Because I would be careful with my shoes even in the rain. It turns out they don't care because they bought them with someone else's money, haha 😅. That's the difference. When you earn your money from hard work, you tend not to spend unnecessarily. But if it’s someone else's money, you’ll spend like crazy. Just like with Che Ta-turns out it was a loan from Mara. 😅😅 So, if we see someone living a luxurious life, it’s definitely a red flag. That might not be their own money.

[@rizalomar4377]

spot on sis

[@flixtormy]

Can't agree more and for this case, I never blame Khazanah and PNB. I just hate that woman, just because of she's famous, she need to flex her luxury life by draining company's money. Simple to say, she just stupid drown by her own ego. Even Duck is not a good product. People just fomo about it.

[@birrz2027]

U mean when she posted “these (luxury) bags define me” 🤣😅 As a tax payer you wonder whats great of FV?? Why this brand got fund, i never support or buy from? Their services and existence is insignificant etc. TBH. Quite a number of ppl feel the same way like u. However, the FV bff and supporters said all this blown out of proportion bcoz ppl from top2 position sibok kacau. MACC said they have to do their job but cant find anything to charge. Media and news about FV situation is fake news bcoz Vivy and hubby is innocent. And kesian their kids watching them going through this. FashionV got so many haters try to bring them down. The team is confident they are clean and ethical. The making losses since 2018 is also not severe or impactful 🤷🏻‍♀️

[@mikeshashimi1405]

I don't think it's the takin of "profits" that bothers so many. It's the use of cable, government's sovereign fund negligently investing in a company that is not so transparent. It's the peoples' money. Due diligence was obviously not done.

[@agneslily6566]

Was the decision of Khazana to invest in FV linked to the personal connection to the families of the duo? That would certainly be worrying

[@joshtlk]

Very good break down and run through. Honest non-bias opinion. I have had a chance in my view now on this whole saga. Maybe one thing to do in the future, since its already kinda technical in your videos, would be good to rundown and break down the numbers in graphics form, so that its clearer in view. Thanks for this run through!

[@MrMoneyTV]

Thanks buddy! Appreciate it. Good idea to do so. Maybe next round should do a deep dive in to their numbers? Let us know if that interest you

[@ironshark2215]

@@MrMoneyTV yes bro. please do so :)

[@muhammadfairuzsamsi7209]

Yes please do ​@@MrMoneyTV

[@alanlts]

I am interested. ​@@MrMoneyTV

[@capzfelix]

@@MrMoneyTV yes, illustration will be much welcome! Continue the good work!

[@johankasah1121]

People are angry at the founders la not PNB or Khazanah. Seems like they spent the money on handbags and shoes.

[@MrMoneyTV]

Yes the optics is whats making people angry. If they didn’t flaunt the lifestyle it may have been better. Nonetheless the business model is largely personality driven, which involves founder flaunting their lifestyle. On one hand, what they do with their money or salary should be their own problem. On another, it raises the question of how are founders are very well rewarded even when their company is not performing. I suppose if it’s fully funded by personal money or angels it’s still ok la. But when got more parties it gets more complicated.

[@kerismoolayu]

why not PNB and Khazanah..FV been losing money 5 years in a row before PNB and Khazanah pump the money in ?

[@Infinitynow696]

@@MrMoneyTV Personality driven doesn't have to be flaunting lifestyle no? One's brand can be aspirational by other means instead of showing off one's ridiculously expensive bag collection?

[@vjaybts2778]

Wthell, the people at PnB and Khazanah are so stupid or what for blindly pumping money into an unproductive company in the first place.

[@HariniGopal-p9d]

Inspired by Rosmah

[@happyheartslee]

i am learning a lot. very informative and not biased/emotional. malaysians need more of these!

[@g9n646]

FV not Bumi representation. More like T5-Bumi-Father Cable group.

[@luvmefood]

Right. When he refused to take that into him spinning this story, the equation does not add up.

[@Spazie]

Exactly

[@pawehbsam5872]

haha..ni lawak 😂

[@mho4228]

The question why Khazanah board approved the huge salary of the 2 directors if losting money? No good governor.

[@oliverodell3105]

@@mho4228 given the public interest and public funds being used I wonder if they would share the meeting minutes 😅😬

[@kkeyes88]

This is a well-balanced opinion. Not based on emotions and ignorance that some KZbinrs may take advantage of to gain attention or views. Well done. Looking forward to more of such videos.

[@aliasahar4700]

Khazanah/PNB invested in FV because it was the platform that support local designers..until they created Duck..and it become competitor to other designers on this platform.

[@joansbeef4035]

@4:15 think we dont need to have a reason .. Singapore case on FTX is a little different from Khazanah investing in this company.. to invest in a company with absolutely no product nor value but by the sole distinct factor that its bumi owned, that in itself is more than enough .. this wouldn't fly in other more well regulated countries. In Malaysia, where corruption is just another small crime.. There's really no need to shy away from the truth.

[@izzatihassan1475]

Believe it or not, Duck, the brand with all the overpriced scarves and bags actually had their own followings. Mostly t20-m40 malay ladies from Malaysia, Singapore and even Brunei. Some even save up money/pay in installments to buy them. There's even online groups dedicated to buy and sell limited edition ones (full of scalpers but that's another story). Makes sense because Viviy was a blogger/influencer first before going into entrepreneurship. So why did it fail? Because when she released Duck, she focused on it instead of using Duck to uplift the Fashion Valet company. duck could've been the "anchor tenant" of her "online mall" Fashion Valet. Yet she made Duck into a separate website. Then made Lilit physical boutiques during the time when malls are dying and people were buying online.

[@Infinitynow696]

You have to look at this in terms of it being the people's money. it is not a typical VC situation. Also, these two wanted this business, it was them who pushed it. They were not put there as employees to drive a company, so why should they be paid a large amount in salaries and benefits? Salaries and benefits should commensurate with the profit and losses of a company and what stage it's at. Running a business is hard, yes, but that's the risk you take especially when you take the Rakyat's money. If you can't do that don't take the Rakyat's money. If you have high net worth contacts, take their money instead, they won't miss it. But the Rakyat will miss it because everyone else can't afford your luxury lifestyle. Of course Khazanah needs to invest in companies, but these two were very green and young when they started it with no tangible track record. That is clearly unacceptable. If you're going to do that, then you need a strong oversight. Was there? Yes everyone needs to makan, 2 million in benefits will certainly get you a whole lot of lobsters and fine dining meals.

[@AnneLaniaz]

If you watched the myeg contest, they turn less than 20k to almost 800k. And when FV started, there was only 2 other e comm platform, one of it was Lelong. And their customers during that time came from spore, brunei, australia, etc. Vivy is a lawyer while the husband an engineer, both studied overseas where e comm was already a booming business. That is where they get their ideas. They did their research before they pitch FV. That is how they won the contest & get the RM1 mil to start their biz.

[@3mKay]

its not the fact they lose money, its how they lose the money, did they do due diligence? why so many red flags and no one notice earlier ? now that even MACC is involved and even they said there are sus transaction. we should scrutinize all investment by PNB and Khazanah to see if they make sense

[@dausdk]

Interesting take on the Fashion Valet case! I agree, it’s important to consider the bigger picture when it comes to investments by agencies like Khazanah. Startups memang high risk, and bukan semua boleh jadi Grab or Shopee. Tapi maybe the question here is more about governance-like how decisions are made and transparency. Also, the point about tying directors' benefits to profitability-totally relatable! Kalau company tak untung, directors pun kena rasa sikit, kan? Curious to see how this case develops. Keep up this content, bro-really insightful! 🔥

[@KingXerxesTan]

Did Zhang Toi, Jimmy Choo, Melinda Looi, Khoon Hui, and Ect have this privilege of start-up investment from Khazanah?

[@MrMoneyTV]

Another interesting company is Siti Khadijah, profitable and solid. Muiz fried chicken too

[@KingXerxesTan]

I'm comparing apple to apple k? All these are Malaysian fashion Icons that make it big on their own merits without crutches. Buying into a loss-making business is a red flag, unless they spotted a hidden asset in their balance sheet where it is a gem where no one realized.

[@b7076-y7x]

And also Anthony Tan

[@ck51250]

Mr MoneyMan...ur final stmt refers. Cannnn...use ur own monies.

[@pawehbsam5872]

@@KingXerxesTan so what is your point when you said all of those chinese Malaysian successful designer to compared to?? Bernard Chandran, Jovian Mandagie, Nurita Harith, Alia Bastamam, Rizman Ruzaini and Dato Rizalman does they got privilege of start-up investment from Khazanah?? No..hello?? Why didn't you mention their name?? all of them are local designer too..

[@elelimsoon9688]

I agree with your opinion. Directors should not continue to draw high salary nor dividend when the company is not making money. How can Khazanah not see this. Khazanah is not a newly set up organisation. This is rather a high handed situation and lack of safe guarding the venture. It's not wrong to support start ups, but investors must be accountable too. Certainly, there shd have been annually or bi annual reviews of the investments. Founders should NOT be handsomely paid when the business entity is going south.

[@gutsumi123]

If a company is not paying well, who would want this hot potato in their hands when the salary is low? By giving a massive paycut, you risk the exit of founder from the company altogether. Without a proper leader means valuing the company at zero, because no experienced CEO would want to take over a problematic company at minimal pay.

[@staywokeproperty]

Personally love contents like such, raw take and straight from the heart You just need a couple of drinks 🍻/shots“gins” to get this even more interesting and entertaining

[@MrMoneyTV]

Haha maybe I should then I will be even more honest 🤣🤣🤣

[@staywokeproperty]

@@MrMoneyTV there’s a saying, 醉话没罪😂

[@mycroftlee]

Podcast plz!

[@richardfung9448]

Every party should take responsibility including Khazanah, PNB and FV management. How can the board and investors keep allowing FV to keep bleeding? Where is the governance? If the investors knew that FV has been losing money did the investors allow them to continue like that just because it's a Bumi company?

[@jasonhing90]

Thanks for clearing some air. Definitely learned something about business and investment. I had a bit of rage when the news reported, but after watching this video, I tend to look things at a broader view, and I do agree at some point because I’m running my own business too. After watching this, seems like everything was fine until Khazanah invested and include Duck in it?? Got the feeling like the owners don’t feel like continue building the brand anymore and let it rot while same time taking back what belongs to them (money). Perhaps after joining ventures there are changes in policy and decision making hence the owners felt not owning the brand anymore. **just my opinion Anyway thanks Peter. We should be educated more and look things at different perspective

[@georgeloh8257]

The question is about fiduciary duty and any conspiracy of abusing the fund or not. Government's fund is considered a type of public funds too. Public has the interest to find out the truth when something not logic is occured. You should not say that the fund involevd is just a tiny fraction of government's assets only because no one knows whether there were any abusing of power and breach of fiduciary duty or not; therefore, it would be good to let other relevant government agencies to investigate the matters and get someone to annser, account and responsible for the losses. It is the public's expectation that the goverment who is acting as a trustee for the country's money will practice to take good care and make good decisions when utilising it. If the goverment recklessly to manage the public fund, then many Rakyat will feel discourage to work hard and pay tax to the goverment then.

[@agneslily6566]

What matters is if the decision of Khazana to invest was somehow linked to the family connection of the duo

[@betoo1769]

One of the shocking moves from duck that time. during the pandemic season she was still focused on retail sale other than on9 sale.

[@AudiMok]

IBKR is regulated by MAS: MONETARY Authority of Singapore. Not MALAYSIAN Authority in Singapore. They have no jurisdiction in Malaysia. You just lost some credibility.

[@dillony797]

Investing in a company that have no own product. Literally just a e-commerce platform. Didnt anyone question the relation between FV founders and investors committee members? Jeng jeng jeng

[@mohammadnazliaziz]

Fair and balanced assessment. Perhaps we need to know why PNB & Khazanah decided to stop supporting them and sell out in full. Since the size of the portfolio is small both Khazanah and PNB should be able to hold on. I am sure Khazanah & PNB has a ‘loss tolerance’ for startups. If it’s a management issue, there are many ways to diagnose it.

[@MrMoneyTV]

This is also a question I have. “Why not hold out” since it’s such a small investment amount.

[@gutsumi123]

Why not hold out? administrative burden is one key issue (e.g. you have to make valuations and quarterly reports on those portfolio companies); perhaps the exit landscape has become challenging (unlikely IPO; not many strategic acquirers). Sometimes you just want to close the book as there is not much upside. This is not an uncommon practice.

[@izzattaz6290]

I think you should comment on the familial relationship of those people involved in. I truly believe every company has a policy governing this matter. Usually it can be bypass by the committee and the board. However, you mentioned that upon acquisition FV's started going down hill. Meant something is wrong? But I haven't seen Duck audited FS

[@MrMoneyTV]

Well I’m not commenting because I don’t know them personally, nor do I know have clear facts about their family ties. All I know is both are from privilege background. But does this discredit their work of starting FV and Duck in the first place? Imho their background n accessibility is a different topic that will need more facts before I can comment

[@arcturus4067]

​@@MrMoneyTVin Malaysia , many things work by "connections", so before letting Khazanah and PNB "off the hook", this angle must be looked into.

[@syedaldrin4327]

Sure, losses happen in investments, but when public money is involved, people expectation gets to another level altogether. The RM43.9M loss by Khazanah and PNB, plus the RM8M criminal breach of trust case, has made this more than just ‘normal business.’ Public pressure is the actual driving factor forcing the government to act, showing how much transparency matters when it comes to managing funds that belong to everyone. I believe the lavish lifestyle portrayal and no holds barred- kind of attitude by the founder was the main issue to begin with, otherwise its just another same old same old kind of business 😅

[@ckokloong]

I think the right question is how much money Khazanah make every year. If Khazanah are making more money compare to her peer, than it is ok to loose money. If not making money (like putting money in the safe with 0 interest), then they are doing a bad job.

[@weijianchai1331]

Very good points raised but a correction here: VCs do NOT give big salaries to the founders that they back. Rather, VCs will align the interests of founders to themselves, by giving them stock options and also allowing them to cash out in later funding rounds AFTER the company has proven itself. Btw, FV started in 2010 and we are now in 2024. Can it still be fairly classified as a "startup"?

[@KingXerxesTan]

@@weijianchai1331 maybe start down perhaps, lol.

[@boilerchan]

The almost 50 mill Investment for percentage shares of FV ? I may be wrong the Authorities got only 3 % shareholding.

[@jasonlow8715]

You are talking about a perfect scenario whereby everyone makes decisions and performs above board but we all know that when the authorities starts making a FORENSIC INVESTIGATION into the accounting of any company we know that certain if not all transactions are fishy. You keep on saying that this will be bad for future investments but we also need to understand the mentality of GLC/GLIC and the way they invest in certain companies. Remember this mantra "FIGURES DON'T LIE, LIARS FIGURES".

[@michaelchang9796]

You mentioned financials a few times in yr video - revenues and profits of FV and Duck - and thats fine. However, from the ooerational (not the investment) perspective, how were the cashflows (I think obviously very poor and highly negative) for the years to afford to pay the lucratively high salaries if the founders? There were no mention of the business being funded from bsnk borrowings or other funding rounds. Is it unreasonable then to suspect therefore that they were financially bleeding the venture..?? Personally, i never believe in justifying high figure negatives under the cover of (or just becos they make up) small miniscule percentages..

[@MrMoneyTV]

Well truth is that’s how many startup works. It’s funding that keeps the lights on not the biz operations. As for why founders paid so well, it’s “willing buyer, willing seller” some are Cz they are seasoned and comes with experience. Anyway this is a rather complicated and no one right answer kind of topic. There are “best practices” like what Warren buffet does is management team’s compensation are highly tied to performance.

[@gutsumi123]

The reality is you can do a massive paycut to the salary of the founders/executives, but the founders can also easily leave the company as they are demotivated. If the company has no leader, then it's worse than the deal.... (write-offs, valued at zero). It is typically challenging for the board to find another experienced CEO/leader to lead a problematic company with minimal compensation.

[@susansoh5764]

Rm47mil but not including unrealised gains of 6 years, such as interest amongst other things. Who authorised the sale price to NXBT which is a sub of Time which happens to be an Umno company. Excuse me, we are not looking to "blame" but we are looking for accountability!!! Watch your words! Do you realise how ridiculous you sound? How often do we hear public money given to politically connected figures who end up running the companies to the ground ? ! Any other failures are under their belts? Voucheres, Fruit Basket? GPLF??!!

[@KohilanVachiram]

Common in bumiputra companies 😅 Bosses are highly paid even with no money 🤑💰🤑 Good examples are GLCs

[@pawehbsam5872]

wait?? huh?? all ceo and bosses in the world were paid highly too..what is you point actually??

[@KohilanVachiram]

@pawehbsam5872 must match with productivity when you want to be paid highly that is my point dear cybertropers 💗

[@KohilanVachiram]

Be a MAN 💪 like ME show your real name not reels ✌️ if you want to have constructive observations no 3R please 🥺

[@nikfaridz9297]

Vgood and non-bias review on the matter, unlike others being done in a jealous mode or immature

[@howrandy]

more like defending the flaws with ambiguity

[@bleuray90]

I would love you to cover this kind of topic. I thought that after Sapura incident last time (no intention of rubbing salt to your wound), u might turn off from commenting again. But appreciate your sincerity. Keep telling more honest, raw and educational vids.

[@MrMoneyTV]

Haha that one that came with a love letter. 🥲 thanks for the encouragement 👍🏽

[@dominicszejencheah9087]

Hey, just a note. 19:17, Monetary Authority of Singapore

[@AnneLaniaz]

Thank you for compiling all the info & presenting it in such a way that we could easily understand. A lot of people think it is too early for macc to come in at the initial stage, and all because FV is not making any profit.

[@uwahhhama]

Thanks for making this video , and show if u want to tell someone do it un bias it the best way to tell something

[@Chryeon]

So obvious , it's self enrichment rather pure business purposes...But decision and role governance is lacked from Sovereign funds is normal in malaysia boleh

[@bartocastro3672]

They will get away with it if they have a good and creative accountant and foreseen the fail the company.

[@juainaar7642]

Very interesting. Most objective viewpoint on this matter.🎉

[@MrMoneyTV]

Thank you

[@xplade9159]

Malaysian khazanah should really invest in a company that the founder are willing to take min pay or zero pay during the initial start up and earm money from the share price when they successfully listed the company..in that way the founders could work harder and will not rewards themselves with big pay even the company already in serious restructuring stage...

[@gutsumi123]

Then you are limiting entrepreneurial activities to the privileged ones who can afford to take minimal pay. Everyone else would just want to work for Google or Amazon as employee only...

[@VerrBorneo]

Wow..i watch your video until finish..Great videos!

[@ProfessorHibiscus]

Good Breakdown. Shows that you're a proper finance and entrepreneurial person.

[@oliverodell3105]

General question.... but why is there a government body that only invests in Bumi startups vs Malaysian startups? Is there a reason why minority startups aren't invested in ? Or is there a separate government entity that does that ?

[@abdulmuhid1816]

They know that government institutions have a lot of money and can be use as an opportunity to make these institutions to invest in their company because if the business failed they still gain and have nothing to loose. They should not think in this way and should try their best to get profits from these business and not otherwise. They are responsible for the business failure and should make to pay for it whatever money they loose in this business. This shoukd deter others to try to make such scams in future for the better of Malaysian businesses ventures. Thank you.

[@ahmadyusof2480]

Its happening everywhere. Even in UK, this guy, who had connections with the government, aquired bank loans to finance big companies which were losing, paid himself very very hefty salaries from 3 famous dying companies, and all 3 companies collapsed. But this guy had already got hefty salaries before the companies collapsed altogather.

[@EveryLittleThings]

The longer i listened to your podcast, I can't help but say i agree mostly and aligned with what you said. Nevertheless, don't you think some governance should be put in place and to monitor this startup performance from quarterly and yearly perspective before the loss-making cost almost the entire investment?

[@MrMoneyTV]

Glad to hear it helped. I do think that there should be more governance structure. That’s why I’m all for having an audit and report on this and improve this process

[@khtan585]

Many "frauds" are guised as civil issues whereas in reality it is criminal in nature. If there is anything it learn, prosecute hard for criminality so that these "civil" improprieties are stamped out !!!! Percentage of investment is irrelevant.

[@KS-zd4ew]

They never calculated umno will fall .

[@erniccl1]

So she loves fashion, so she sells products ..I love cars… I start car dealership…PNB wanna invest??😂😂😂

[@SYLo-h7q]

Sounds like you’re whitewashing for the couple. While I support local entrepreneurs in startups, it’s apparent they also lack corp governance when setting up companies. Hey, who knows they could be acting as proxy for “someone higher” from K

[@abdulrazakmanaf2802]

A balanced viewpoint. Founders can do anything with their company. But not when you got investors. You need to be transparent with your investors especially with how much you are paying yourself. Affordalility is something to consider. And you have no business living the good life as a start up entrepreneur. You are in the wrong job if you do.

[@AstonMart-c8y]

The issue is about corruption, financial manipulation and fraudulent practices, as simple as that ...

[@jeromeljw]

24:37 there's a deja vu glitch in the Matrix

[@yusvanyusteroy1962]

Just check whos this couple ‘besfren’ or relatives

[@steventan2550]

The buyer is either an idiot or corrupted to pay so much for such a company.

[@kamarulhk1]

how can you take 10mio dividend when your profit is less than that

[@felixagustus4235]

Along the way, duck untung lebih daripada itu.

[@MrMoneyTV]

The dividend was from dUck. It was a highly profitable company

[@izanudin]

If it took 40 something mil and a round and about way to birth DUCK, a genuinely good Malaysian brand with quality, I think it's worth it. Not to credit the couple if they are proven to be cheaters, but to be grateful that something positive came out of this misadventure.

[@ainawaheedamohamadcrchkl1658]

thank you for your critical analysis that is easy to understand for a lay-person like me

[@ThakurMesh]

Justifying millions on company without any assets and positive sales growth lead to questions only MACC will discover the truth

[@TradingUntil_]

Very good video.. thank you for creating it

[@henrymlim]

It's not so much of the percentage of the FV investment out of the entire Khazanah portfolio. It is simply that Khazanah seemed resigned to have lost the bulk of the investment - if they can be so nonchalant about a small investment, how can we trust them on the bigger ones? Did they profit from the other investments simply due to dumb luck without much due diligence and holding the executives accountable when it became increasingly impossible to breakeven? How was the process of evaluating FV before deciding to invest? Was there hanky-panky element - that FV got the investment simply because they had "cable"? How can we trust the capability of those in Khazanah? And this would not have been acted upon by the authorities (MACC included) had it not been brought up in the Parliament. Khazanah, and the FV executives and directors were probably thinking that they are not guilty if they don't get caught?

[@Thephotondust]

This is the exactly everything wrong with this country. They rather help a certain people based on their skin color. Our stupid government decided to choose over a type M fashion valet instead of grab which is non type M. End up it became a successful company and was grabbed by Singapore. This thing has been happening on and on and on again. Our government just help a certain race and religion

[@IzzyLeicanut]

The issue is not about the investment but rather, the governance processes.

[@georgengu1670]

We need to be accountable my dear. People's money. Your comment is off track.

[@wew6438]

so the merger book value are not take into account and this justify the drawing of all profit before the merger?

[@155stw]

The management of Fashion Valet should have been removed.

[@steveng1413]

Disagree with your opinion, stupid reasoning, a spade is a spade. Maybe khazanah can fund me thousands of millions too. Government fund should be careful of misused, like syphoning of fund, buying over value company for kick back, funding losing company year in and year out for too long, buying overly insolvent company and so on.

[@sleepywolf82]

Tesla and Amazon was losing money for a very long time as well. Are you saying temasek shouldn't have invested in them?

[@steveng1413]

@sleepywolf82 Look at the red flags? Unlike tesla and Amazon.

[@secrets.295]

I don't understand why people pay so much attention to influencers. Some people even idolize them. Most of them are just tin heads and desperate to get more views. I can understand idolizing celebrities, because u need talent to be a singer or an actor. Even if many artists these days no longer have that much talent, at the very least they must be able to produce songs that can relate to people or at least they must have some stage presence to capture their audience. You don't need talent at all to be an influencer. So why are people paying so much attention to them? They are not worth idolizing. Its okay to watch them once in a while but to obsessively follow their every move is so messed up. I remember watching Kim Kardashian instagram a few years back. And since she was already old she started getting more and more desperate. Many revealing pictures. Its not normal for a mom in her 40s to be posting pictures like that. Why millions followed her diligently is beyond me.

[@bentleywoon9956]

I love what you have shared, it really resonates with me. Thank you.

[@kcchiok]

how? of course thick cable

[@kingdavidtaidawei]

If the company doesn't make money. The salary he or she has to match the lowest paid employee to make it fair

[@MrMoneyTV]

🤣 not till like that la. Just shouldn’t be paying top dollars 😅

[@shafinastaib7805]

Should the rest of the companies that received injections from Khazanah or PNB also be audited (who failed in the business) to avoid unethical/wrongdoings while handling the funds?

[@dr.hamimahhassan573]

so sad, why they did all these. but there are also other companies making loses related to khazanah, then the co was sold to spore co. khazanah also lost money.

[@yengchai]

IMO: RM40 million is too much for ONE high risk investment especially startup. The risk could have been diverse to cushion any loss. Like the old saying, don't throw everything in one basket. Oh well, the decision is questionable really, and of course this should caution the investment board to not be bold, because these are public funds to start of with.

[@sleepywolf82]

For a company with 42 million sales and 8 million net profit? At the time the revenue growth and profitability was very very good

[@Aivern]

Hah. Singaporeans and malaysians are not so different afterall. You're right in that there shouldn't be a senseless witch hunt. At the same time, when public funds are involved, optics become critical. Temasek's investment in ftx was justified as it ticked all the right boxes at the time, while also attracting large hedge funds and sovereign wealth funds all over the world.

[@sc9433]

Invest in Grab by malaysian chinese with strong backing ❌ Invest in shady FV by bumiputera with no clear backing ✅ Obvious choice.

[@pawehbsam5872]

do i agree Grab should be get more benefit from khazanah..yes i 100% agree..but does all bumiputera startup failed?? not really..for example Siti Khadijah, DRH Hotels & Resort, CIMA Berhad etc..also chinese company under khazanah like Farm Fresh, CIMB, Sunway etc..so in FV case is a bad investment..but the focus thing is Vivy and husband fault when the they got the investment..there is a shady transaction..that should be investigate..

[@sc9433]

@pawehbsam5872 grab was a no brainer. It has strong backings from the very start. There must be something really wrong with khazanah to not want to invest in it and keep it in malaysia or was it just blatant racism? Who knows?

[@pawehbsam5872]

@sc9433 huh?? How can you conclude that is racism if farm fresh, sunway is owned by the chinese can be successful under khazanah investment?? Can you elaborate your point cuz if that what you think then is it you that is racist or khazanah??

[@sc9433]

@@pawehbsam5872 sunway is not a startup. We are talking about iniatives to help "Bumiputera" statups but never for other races. That is what pushes Grab out of malaysia. If there were any, grab will never be forced out of msia.

[@sc9433]

@@pawehbsam5872 your information is wrong. Khazanah did not invest in farmfresh as startup or help in anyway. Khazanah only invested in IPO.

[@roberthii3358]

In the matter of public funds being used to invest in companies growth, i believe that while you have a point on overreach and a heavy hand, there is little said about the mechanisms that exist to hold public funds accountable. What you don't address perhaps are what would the general process look like against what is happening. What you might also find is that we have very little investigative powers for financial crimes, and less still power to prosecute, let alone in civil courts, where you are not taking into account how one would prove malfeasance in an instance like this. Coming from an area of governance and policy, i might suggest also looking at what might happen otherwise and less so fearmongering

[@masterseries4004]

All boiled down to government investment committees decisions and accountability and trustworthy systems to investment. The above video is telling you that government investment in any industry shall lose in the first two to three years and later making profit in huge margin and this is very common? The reasons behind it is very small amount in this investment 50 millions (start -up and high risk business) and compared to government overall total investment fund available? If this is the commons logical in government investment fund policies, better to be conservative in all investment. In market investment opportunities provide by international investment opportunities by guarantee minimum percentage of returned (better than fixes deposit) and fees and bonus only paid upon targeted percentage return achieve and good bonus to pay upon above targeted percentage, otherwise not fees and bonus.

[@mengpootan9465]

Excellent presentation! Unbiased, and Educational.

[@youwaiyap2708]

There was a definitely conflict of interests in running 2 similar bizs parrallel; a problem with ppl who wanna oversell in order generate Values but who fail to demonstrate objectivity 🤪🤪🙏🙏

[@bryansu]

PNB or KHazanah can invest but not throwing all the 47 million in one shot. It need to in progressive and also result driven to invest more. Invest 500k first la, then if there is a positive result then only invest more and more.....who go and invest 47million and then only sit there and wait for the failure.... Who idiot do that .... HELLO, even small kacang ppl like me know about managing risk, tak kan this two BIG COMPANY dont know about it.,.. Coming on, investment doesnt mean "blind investment", it doesnt mean "no monitoring after the money is release out"....

[@zackkl46]

for me institution like PNB and Khazanah is crucial for startup growth in our country.. but its not about the investment.. its about transparency of the audit on FV.. this irregularity can be spot earlier before the buy out.. who make decision to buy it out? do they check it throughly? do they audit it throughly before make millions buy-out? i bet someone in khazanah and PNB knew this buy-out is out of line and will make malaysian furious yet someone higher in position make it happen.. thats what happen from my persepective.. but ape boleh buat.. there will always be grey area that this issue will not be treated as crime.. more like bad decision on investment.. so who will face the consequences for buy-out this T20? yahh malaysian money.. AUDIT AUDIT AUDIT.. make that transparent before making decision.. or face the consequences by malaysian kepoh2..

[@fitw]

Let the court do their job if there is any wrong doing. u mentioned like We work also right, hopeffuly this not another We work like case.

[@thestarbucks137]

Good listen ❤

[@razmiihsan8897]

I would blame the public either. But after decades of corruption, no wonder la people would have knee jerk reaction like this.

[@schadzwanazmy7921]

Founders need to makan also lah.... But their makan very extravaganza

[@keathinlee2203]

Making losses in such investments,especially in a start up, is quite normal in the venture capital world.

[@CheerieCheerie-k8h]

Now they want their names to be clean~ lets bless them 🙏

[@nurulnadiahazmi1156]

thank you very much for explaining it.

[@brentyap1920]

Most of your contents are great. But for this particular topic, I think you tend to embellish what these two people have done. The main issue is they don't have the track record or any tech to back up their pitch. She relied mostly on her celebrity status and insider info to get the funding. Did she really bootstrap and scale? In the grand scheme of things, they put a dent on the transparency and meritocracy growth for Malaysian startups. If not for their privileged status, would these companies be able to draw revenue?

[@razmiihsan8897]

I wouldnt blame the public either. But after decades of corruption, no wonder la people would have knee jerk reaction like this.

[@lowkl3552]

It is a luxury to do business using Other People’s Money 💰 Hooray 🎉

[@hawkishy]

I believe the salary should be fair and reflect the earning. But I am not from a startup background, cant say much.