Xeraya Capital Sdn Bhd has initiated a review of matters highlighted by its shareholder Khazanah Nasional Bhd, pledging to strengthen its governance and oversight processes in response to concerns raised by the sovereign wealth fund.
In a statement, Xeraya Capital’s board said it formally acknowledged the statement issued by Khazanah on Aug 20 and was taking the concerns seriously.
“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,” it said.
The board said it remained committed to cooperating fully with Khazanah and other relevant stakeholders, and would provide its assistance and support for any review, inquiry or engagement that may be required.
It added that it would take all appropriate steps to uphold high standards of governance and stewardship in the interests of the company and its stakeholders.
The development follows a statement by Khazanah, which said it had become aware of matters concerning Xeraya Capital, an investment company focused on Malaysia’s life sciences and healthcare ecosystem.
Khazanah Nasional Bhd has launched a forensic investigation into legacy issues involving Xeraya Capital Sdn Bhd after irregularities were identified in documentation relating to previous transactions.
Prime Minister and Khazanah chairman Datuk Seri Anwar Ibrahim said the irregularities were identified in July, prompting the sovereign wealth fund to initiate a formal review of the matter.
He said Khazanah’s management had been instructed to conduct the forensic investigation in accordance with the highest standards of governance 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 at the third Khazanah Board of Directors meeting for 2026, chaired by Anwar on Thursday.
