Prime Minister Datuk Seri Anwar Ibrahim will provide an explanation in the Dewan Negara on Monday regarding the reported losses involving a nearly RM200 million investment by Retirement Fund Incorporated (KWAP) in Indonesian company eFishery.
Anwar, who is also Finance Minister, said he would not provide excuses over the matter but would instead present the actual facts surrounding the investment.
“I have issued a statement on that… I will answer questions in the Dewan Negara tomorrow.
“KWAP is correct, it is under the commission, but this involves a financial company managing pension funds. There is an investment panel and a board,” he told reporters.
He was speaking after attending the Madani Kita Bersama Komuniti Tambun programme at Dewan Komuniti Taman Perpaduan, Tambun on Sunday.
Anwar said KWAP’s investment decisions were managed through its own governance structure and did not require direct reporting to the government. However, he stressed that the matter would be addressed transparently based on the facts.
Earlier, the Finance Ministry (MOF), in a written parliamentary reply, said KWAP’s investment in eFishery was believed to have fallen victim to an alleged organised fraud following the manipulation of financial reports by the company’s management.
The ministry said the investor consortium, including KWAP, had taken several measures including legal action, efforts to recover funds, internal governance reviews and strengthening investment controls to protect stakeholders’ interests.
eFishery, an Indonesian agricultural technology company that provides automated fish feeding solutions, was previously reported to be under investigation following allegations of financial misconduct, including the manipulation of financial statements.
Based on reports by DealStreetAsia, KWAP was said to have invested about US$47.7 million (approximately RM200 million) in eFishery’s Series D funding round in 2023.
