THE legal battles of TAR PH Sdn Bhd, a unit of Khazanah Nasional Bhd’s Themed Attractions Resorts & Hotels Sdn Bhd, has triggered a petition for Prime Minister Anwar Ibrahim probe into the sovereign wealth fund’s string of alleged failed investments.

As prime minister, Anwar is also the Khazanah chairman.

The petition, initiated by one John Low Seong early yesterday, is on change.org. 

The text accompanying the petition said Khazanah must be accountable for the failed investments. It cited  a news report by the portal Scoop that TAR PH was facing a winding-up petition after allegedly failing to comply with a statutory demand from Jana DCS Sdn Bhd for payment last year.

The winding-up petition stated TAR PH has no income to settle a RM94.746 million debt after the closure of its JEN Johor Puteri Harbour Hotel on May 9.

The debt is said to be rooted in an arbitration award of RM89.262 million favouring Jana DCS, after TAR PH wrongfully terminated an agreement over the supply of cooling loads to the hotel in 2012.

On June 11, another TAR&H subsidiary, KidZania was also reported to have failed, with poor management cited as the cause.

KidZania Singapore was voluntarily wound up and its non-movable assets sold to theme park operator Sim Leisure Group for just SG$110,000 (RM378,000).

KidZania’s Malaysia’s outlet in Mutiara Damansara was sold to Sim Leisure Group for RM3.8 million.

Khazanah has injected RM550 million into Themed Attractions Resorts & Hotels Sdn Bhd to keep the leisure business afloat. – August 24, 2023.