HAVING exposed how Aerodyne Ventures Sdn Bhd is in dire straits financially “after having swallowed RM300 mil in public money”, online whistle-blower FreeMalaysian (@FreeMsian) has publicly unearthed brains in government-linked companies (GLCs) and government-linked investment companies (GLICs) who brokered fundings for the high-flying Malaysian drone outfit.

At the very top of FreeMalaysian’s list is the Retirement Fund Inc (KWAP) chief investment officer (CIO) Hazman Hilmi Sallehuddin who “seemed to have been a key figure in PETRONAS burning RM130 mil with Aerodyne”.

“The other group of people from PETRONAS seemed to be Fariz Ali (ex-Khazanah Nasional Bhd) and Arni Laili Anwarruddin - all bean counters (accountant or bureaucrat who are perceived to be placing excessive emphasis on controlling expenditure and budgets),” revealed FreeMalaysian.

“The government needs to seriously look into how many government agencies and government-owned companies burning hundreds of millions in ‘venture capital’. It now seems like a free-for-all to burn people’s money.”

Added FreeMalaysian: “Didn’t put a specific picture of Hazman, also an ex-Khazanah, who occupied a posh office in Khazanah London once. Aerodyne deputy CEO Amir Zakwan is also seemed to be an ex-Khazanah guy. Gen Y is taking over from baby boomers in looting.”

To sidetrack a little, there could be a likelihood that the top management or the board of GLCs and GLICs “being misled” into giving green light to an investment strategy judging by the view expressed by Malaysian Anti-Corruption Commission (MACC) head honcho Tan Sri Azam Baki in relation to the investment by Khazanah and Permodalan Nasional Bhd in loss making FashionValet Sdn Bhd.

For the record, FreeMalaysian has exposed Aerodyne which has often been cited by Prime Minister Datuk Seri Anwar Ibrahim as an exemplary Malaysian start-up - the most recent being in his Oct 18 Budget 2025 speech - earlier this week after having exposed another so-called “big scam” happening in Khazanah’s investee company, Xeraya Capital Sdn Bhd.

As he signed off with a chic observation - “the kids in GLCs with Ivy League qualification in arts courses are running wild!” - below are some netizens’ reaction to FreeMalaysian’s latest exposé: - Nov 10, 2024

https://focusmalaysia.my/could-bean-counters-at-malaysian-glc-glics-be-swayed-by-favouritism-in-their-investment-decisions/