KUALA LUMPUR, May 4 (Bernama) -- Khazanah Nasional Bhd is unable to reasonably ascertain what exactly Tan Sri Adam Kadir, president of Umno's Ex-Elected Representatives Association, was alluding to regarding the RM546 million losses of Pos Malaysia Bhd. In a statement here Tuesday, Khazanah said any check on Pos Malaysia's audited accounts would show that there no such losses were recorded. "We can only presume that Adam was referring to the potential opportunity loss in investment value with respect to Pos Malaysia's 15 per cent direct shareholding in Transmile Group Bhd," it said.

Khazanah said the allegations were factually wrong, misleading and potentially malicious and defamatory. "In this regard, we categorically deny the allegation that Khazanah 'muzzled' Pos Malaysia and issued a 'stop sale order' with respect to Pos Malaysia's interest in Transmile," it said. Adam's allegation appeared in the May 2, 2010 issue of the Sunday Star, entitled, "Khazanah urged to provide true picture of Pos Malaysia's loss". The article quoted Adam as saying Khazanah has not given the true picture of Pos Malaysia's losses. He had said the proposed strategic sale of Khazanah's interest in Pos Malaysia was to "cover up" certain weaknesses.

-- BERNAMA