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FashionValet denies financial mismanagement allegations
A FashionValet board member has denied allegations of financial mismanagement amidst ongoing investigations by the Malaysian Anti-Corruption Commission (MACC).
Aireen Omar defended the company’s founders, Vivy Yusof and Fadzaruddin Shah Anuar, in a podcast teaser after both recently resigned.
Omar said as a board member, she witnessed no fraudulent activities in the company’s financial operations.
Malaysia’s finance ministry reported last month that their investments resulted in a value decline of almost 44 million ringgit (US$9.7 million).
In 2018, Khazanah Nasional Berhad invested 27 million ringgit (US$5.94 million) and Permodalan Nasional Berhad invested 20 million ringgit (US$4.4 million) in FashionValet.
Recent FashionValet developments
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08-Oct-2019 🌏 What’s next for Stripe in Southeast Asia
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15-Aug-2019 🚀 Malaysia-based marketplace for offline ads secures $200k
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15-Oct-2018 🛍️ 3 lessons we can learn from Malaysia’s most visited ecommerce stores
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30-Mar-2016 🛍️ FashionValet scores multi-million dollar series B from Japan’s leading fashion portal
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03-Mar-2015 👗 2 years after pitching on reality TV show, this Malaysian ecommerce startup pockets series A funding
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