Summary
- KWAP’s eFishery investment followed due process.
- Fund recorded RM12.9 billion net profit despite the loss.
- Government backs full MACC investigation.
- PM says lesson is not to rely solely on auditors.
KUALA LUMPUR, July 21 — Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim defended Retirement Fund Incorporated (KWAP) over its RM163.4 million investment in Indonesia’s eFishery.
Saying the loss should be viewed against the fund’s overall performance, which recorded RM12.9 billion in net profit. Anwar said the investment was approved through independent professional processes.
Without political interference and noted that several global investors were also affected by the company’s alleged fraud. He said the government supports a full investigation.
By the Malaysian Anti-Corruption Commission (MACC). While stressing that the case highlights the need for stronger governance and that investment decisions should not rely solely on audit firms.
