NOW that the dust has settled and Tan Sri Azman Mokhtar has had a little under 48 hours of life as a retiree, it is time to pull out the drawers and reveal the purportedly parlous state of Khazanah’s knickers.
More appropriately, Khazanah investment totalling RM80 million pumped for a 22 per cent stake in Zivame, the online purveyor of knickers for chaste Indian women is not necessarily money down the chute and as dire as claimed by its detractors.
In fact, Khazanah remains on track to, over the medium term; recover all or almost all of the sum PROVIDED for to cover this investment.
To the uninitiated – provision, refers to a prudent accounting procedure of setting aside a sum of money for what is expected to be a liability; hence the word PROVIDE/D.
This explanation was given in a farewell letter sent out to Khazanah staff, just a little over 36 hours after Azman vacated his office and left the building.
In the note, Azman said Zivame remains a going concern, “… having had its bester ever quarter.”
He added the investment made sense considering India was a market of more than one billion consumers, half of them women.
Women looking to buy undergarments online was therefore an untapped market, driven by rising incomes and even faster rising internet and mobile penetration in an otherwise male dominated physical retail sector.
For purposes of clarity and accuracy, we publish in full, Tan Sri Azman Mokhtar’s farewell letter below.
Astro Awani
Thu Aug 02 2018
Azman Mokhtar resigned from the sovereign wealth fund on July 26. - Filepic
Kita perlu belajar hidup dengan COVID-19 - Pakar
Itu kata Pakar Perubatan Kesihatan Awam, Bahagian Kawalan Penyakit, Kementerian Kesihatan Malaysia (KKM), Dr Aznida Mohamad Zaki yang berkata pihaknya akan berusaha semampu mungkin dalam menggalakkan praktis kendiri dikalangan orang awam bagi mencegah penularan wabak seperti mana yang pernah dilakukan sebelum ini.
LHDN lulus 141,406 permohonan PKPS 2.0
Lembaga Hasil Dalam Negeri (LHDN) telah meluluskan sebanyak 141,406 permohonan program khas pengakuan sukarela (PKPS) 2.0 yang melibatkan 102,572 bilangan kes pembayar cukai individu, 27,707 bilangan kes syarikat dan selebihnya melibatkan lain kategori seperti pertubuhan.
Pelan Transformasi Air sasar tingkatkan air bersih, liputan sistem kumbahan - Fadillah
Pelan Transformasi Air sasar tingkatkan air bersih, tingkatkan liputan sistem kumbahan - Fadillah
Warga Thailand mengaku tidak bersalah seleweng diesel
Seorang warga Thailand mengaku tidak bersalah di Mahkamah Sesyen Alor Setar atas pertuduhan menyeleweng 322 liter minyak diesel.
Lilitan reben putih tak langgar peraturan - Timbalan Speaker
Ramli berkata, perkara itu juga adalah merupakan keputusannya dan bukan dibuat oleh Yang Dipertua Dewan Rakyat, Tan Sri Johari Abdul.
Kos pampasan tanah fasa 1B proses projek LPB Sabah RM1.2 bilion - Alexander
Anggaran kos pengambilan balik tanah bagi keseluruhan Fasa 1B proses pengambilan tanah dan penilaian pampasan tanah bagi Projek Lebuh Raya Pan Borneo Sabah (LPB Sabah) berjumlah RM1.2 bilion.
KKR sedia tambah baik SOP pembinaan lebuhraya
Alaxender berkata kementerian bersedia untuk mendedahkan laporan kajian insiden jika ia melibatkan kemalangan berskala besar dan meragut nyawa.
Reman suspek kes keropok beracun disambung dua hari
Tempoh reman terhadap seorang pemilik kebun disambung selama dua hari, bagi membantu siasatan kematian dua kanak-kanak yang meninggal dunia akibat makan keropok beracun.
KPM alukan pesara guru ajar Bahasa Inggeris
Jelas Fadhlina Sidek pesara-pesara guru telah banyak membantu usaha KPM dalam meningkatkan PdP bahasa Inggeris termasuk melalui Program Highly Immersive Programme Mentor (HIP Mentor).
Tidak perlu lagi kemas kini status COVID-19 dalam MySejahtera - KKM
Jika positif COVID-19 melalui ujian kendiri, pesakit boleh mengunjungi klinik dan hospital berdekatan bagi mendapatkan pengesahan.