The Malaysian Anti-Corruption Commission (MACC) has obtained documents related to Retirement Fund Incorporated’s (KWAP) investment loss involving Indonesian aquaculture technology company eFishery.
According to a source quoted by Berita Harian, MACC investigators collected the documents during a visit to KWAP’s headquarters in Cyberjaya earlier this week as part of the ongoing investigation.
“The investigation team is currently reviewing the documents that have been obtained as it works to complete the probe,” the source said.
The source added that MACC chief commissioner Abd Halim Aman is expected to provide an update on the investigation later today.
Earlier, Abd Halim said the anti-graft agency had formed a special investigation team to examine KWAP’s investment in eFishery.
The Finance Ministry previously confirmed that KWAP was among the investors affected by an alleged organised fraud involving eFishery, whose financial statements were allegedly manipulated.
According to the ministry, a consortium of investors, including KWAP, has initiated several measures to safeguard its investment interests, including legal action, efforts to recover funds, internal governance reviews and stronger control mechanisms.
Earlier reports said eFishery is under investigation in Indonesia over alleged financial misconduct, including claims that the company inflated its reported revenue.
KWAP clarified that it invested RM163.4 million in eFishery, representing 2.51% of its total investment portfolio, and not nearly RM200 million as previously reported.
The pension fund also said it is a minority shareholder in eFishery, with the majority of shares owned by other investors, including several global institutional investors who were also affected by the alleged misconduct.
KWAP reportedly invested in eFishery in July 2023, when the company was presented as a technology-driven aquaculture startup focused on modernising fish and shrimp farming.
Last year, eFishery co-founder Gibran Huzaifah was sentenced to nine years’ imprisonment by a court in Bandung, Indonesia, after being convicted of embezzlement and money laundering.
