Governance, towers and nasi lemak
A week in Malaysian money.
I’m closing out February with a News, ideas and everything in between.
Three topics today:
Why this PE professional still deserves scrutiny
The Edotco sale that keeps stalling
And keeping track of the “connected” capital in F&B deals.
First, a redux on Khazanah Nasional’s 2026 annual review, in case you missed it:
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See Toh Kean Yaw is a well-known name in the PE/VC space, and he’s come up in previous newsletters before.
Last Friday, he resigned as director of Velocity Capital, the firm that drew scrutiny for its ties to Malaysian Anti-Corruption Commission chief Azam Baki, who was a shareholder for a period.
Velocity Capital is controlled by Victor Chin, his family and associates.
See Toh also stepped down from MMAG Holdings, another company within the Chin family orbit.
Chin, too, drew attention for being part of a so-called corporate mafia, a claim which he denied when Bloomberg asked him for comment.
But is this a clean break for See Toh? Not quite.