Anwar said the investigations must be done fairly regardless of rank and position, or whether the companies involved are privately owned or not.

“Although Nafas is an independent body, it is under the agriculture and food security ministry. There is also the case of Khazanah, of which the prime minister is the chairman.

“I will not hinder investigations if reports are made. If it’s wrong, investigate, prosecute and punish,” Bernama quoted him as saying at an event at the PICCA Convention Centre at Butterworth Arena in Penang today.

On Tuesday, MACC chief Azam Baki confirmed that the agency had initiated an investigation into alleged irregularities in the padi fertiliser supply project managed by a ministry-affiliated organisation.

Yesterday, it was also reported that the constitution of Nafas had been suspended to improve governance and management following internal conflicts that had negatively affected its operations.

According to Azam, MACC had started an investigation into investment losses amounting to RM43.9 million suffered by Khazanah and Permodalan Nasional Berhad in Fashion Valet Sdn Bhd.

In a written reply in the Dewan Rakyat earlier, the finance ministry said Khazanah and PNB had obtained RM3.1 million from selling their shares in the e-commerce fashion platform to NXBT Partners – an investment holding company controlled by TIME dotCom Bhd CEO Afzal Abdul Rahim – last year.

The two companies had invested RM47 million – RM27 million and RM20 million, respectively – for a minority stake in Fashion Valet in 2018.