MACC records statements from 10 in eFishery probe

 MACC chief commissioner Abd Halim Aman says officers are reviewing the statements and documents obtained while conducting financial trail analysis through cash transaction reports and suspicious transaction reports.

MACC chief commissioner Abd Halim Aman said several overseas parties had also been identified to assist in the investigation.

PUTRAJAYA:

The Malaysian Anti-Corruption Commission (MACC) has recorded statements from 10 witnesses as part of its investigation into the RM200 million investment loss suffered by the Retirement Fund (Incorporated) (KWAP) in Indonesian aquaculture technology firm eFishery.

MACC chief commissioner Abd Halim Aman said the recording of statements began on Tuesday, involving senior officials from KWAP and the finance ministry who were part of the investment decision-making process.

“Statements from all 10 witnesses have been recorded. This marks the initial stage of the investigation.

“Investigating officers are reviewing the statements and documents obtained while conducting financial trail analysis through cash transaction reports (CTR) and suspicious transaction reports (STR),” he said in a statement posted on MACC’s official Facebook page today.

Halim said more people would be called to assist in the investigation, including members of the finance committee and the KWAP investment panel involved in the investment.

He said investigators are examining documents, including investment proposal papers, due diligence reports, site visit reports, meeting minutes relating to eFishery, investment procedure documents and KWAP financial records.

“The investigation has just begun and remains ongoing. It is still too early for the MACC to comment further at this stage.”

Halim added that several overseas parties had also been identified to assist in the investigation. The MACC would apply for Mutual Legal Assistance in Criminal Matters through the Attorney-General’s Chambers to obtain statements from relevant witnesses abroad.

“I have instructed the investigation team to conduct a detailed, transparent, fair and comprehensive investigation covering all aspects. We will leave no stone unturned in our search for evidence.”

He said a special task force led by the senior director of the investigation division had been formed, comprising senior officers from the investigation, legal and prosecution, and governance investigation divisions.

Official investigations began on July 17 and investigators entered KWAP’s premises on July 20 to commence document retrieval, he added.

“The scope of the MACC investigation is comprehensive. It covers possible offences involving corruption, abuse of power and misappropriation, while also examining governance aspects, including financial procedures, legal compliance and the decision-making process relating to KWAP’s investment in eFishery,” he said.

The finance ministry previously confirmed in a written parliamentary reply that KWAP was the victim of an organised fraud following the manipulation of the company’s financial statements by its management.

According to the ministry, the investor consortium, including KWAP, had taken decisive action by initiating legal proceedings, pursuing fund recovery efforts, conducting internal governance reviews and strengthening controls to safeguard its investment interests.

Media reports also said eFishery was under investigation over alleged financial irregularities, including inflating revenue figures.

According to DealStreetAsia, KWAP invested about US$47.7 million (RM200 million) in eFishery’s Series D funding round in 2023. - FMT