THERE is nothing wrong in backing potential, but things can get horribly wrong when you READ : back potential without following the rules.
WHICH brings us to the question of second finance Minister's statement in Parliament that READ : FashionValet had potential when Khazanah and PNB invested — Amir Hamzah.
SO where did it go wrong for FashionValet? I believe to find the right answers to this question, we must first investigate the correct people.
VIVY Yusof and her husband Fadzarudin Shah Anuar are abovious targets because they are the ones who financially benefited from the cash outlay by Khazanah Nasional and Permodalan Nasional Bhd.
THEY should be the last set of people to be investigated by the authorities. To understand why is this so, one must first understand that seed funding on potential is an investment into the company and not the owners.
THE first bunch which should be booked are tie board of directors, such as the Khazanah representative to the board and Aireen Omar, the former CEO of AirAsia who allowed all the supposedly ethics breaching transgressions to take place.
WITHOUT the board approval, VIVY Yusof and her husband Fadzarudin Shah Anuar wouldn't gave been able to pay themselves millions in dividend for a company in its entire existence, couldn't manage to make even RM1 in profits
