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A CIMB branch manager testified in court that Malaysia's sovereign wealth fund Khazanah Nasional made two separate transfers totalling RM19.5 million to fashion e-commerce platform Fashion Valet during March 2018.
A Maybank officer testified that Permodalan Nasional Berhad transferred RM20.3 million to Fashion Valet in 2018, which became integrated into the fashion e-commerce platform's working capital and cash reserves.