The tip-off by Thick as a Brick (TAAB) on November 4th on the takeover of Vivy and Fadza's company, 30 Maple Sdn Bhd towards the end of 2018 by the Khazanah and PNB funded Fashion Valet for RM95 million finally got the attention of the public after several days of interrogation by MACC.
Earlier posting on the identity of Vivy's father as the mastermind behind FV viral with large hit of readers and republished by The Coverage. The portal made a stark revelation that throughout their loss-making tenure as managers of FV, the couple paid themselves annual dividend of RM4.2 million.
These issues were highlighted by a Facebooker, who linked to a new Corporate Secret portal which exposed the link between Khazanah and Afzal Abdul Rahim, owner of NXBT Sdn Bhd, the company taking over FV for RM3.1 million.
Afzal is the CEO of Time Dotcom, which Khazanah has a stake and a member of the Board of Director of Khazanah controlled banking group, CIMB. Afzal has joint interest with Khazanah in several companies with interest in Time Dotcom.
The tax loss benefit for FV to set off makes the RM3.1 million sales as too cheap. Questions is why did Khazanah and PNB decided not try to turnaround as usually is the case but prefer to take a big loss?