PAC report censures ‘underperforming’ Amanah Raya

The Public Accounts Committee (PAC) has issued a report revealing the ‘unsatisfactory’ performance of Amanah Raya Berhad (ARB), following a PAC proceeding on the issue on Aug 3.

The report found that ARB did not have complete and thorough investment policies, and the board of directors had no control over potential investments that were to be made, said PAC chairperson Wong Kah Woh (above) in a statement on Tuesday (Oct 12).

Wong added that ARB’s investments performance...