The Public Accounts Committee’s (PAC) probe into Human Resources Development Corp (HRD Corp) revealed instances of posh events, overseas trips and high-risk investments - fuelled by interests from accumulated levies paid by employers.

This includes events at five-star hotels, which even some management members deemed “promotional” or “ceremonial” in nature, testimonies by its current and former board and management members reveal.

Accumulated contributions now sit at about RM3.2 billion, and 60 percent is invested in fixed deposits, while the rest are...