Anwar Ibrahim says although Retirement Fund Inc does not report directly to the government, he does not want that used as an excuse.
Anwar, who is also finance minister, said although KWAP does not report directly to the government, he does not want that used as an excuse.
“I will discuss the matter in the Dewan Negara tomorrow … KWAP is a financial institution managing pension funds. It has an investment panel and a board.
“It does not report to us, but I do not want to use that as an excuse. Let us present the facts tomorrow in the Dewan Negara,” he said when asked by reporters about KWAP’s RM200 million investment loss in eFishery.
Previously, Malaysian Anti-Corruption Commission chief commissioner Abd Halim Aman said a special team had been set up to conduct a comprehensive review of the matter.
The finance ministry said in a written parliamentary reply on Thursday that KWAP had fallen victim to a planned fraud involving the investment following the manipulation of the Indonesian company’s financial statements by its management.
KWAP was reported to have invested US$47.7 million in eFishery in July 2023.
Last year, eFishery co-founder Gibran Huzaifah was sentenced to nine years’ imprisonment by a court in Bandung, Indonesia, after being convicted of criminal breach of trust and money laundering.
Meanwhile, KWAP said in a statement yesterday that its total investment in eFishery amounted to RM163.4 million, representing about 2.51% of the company’s total shareholding.
It said KWAP was a minority shareholder, while the majority stake was held by other investors, including major global institutional investors that were also affected by the misconduct.
According to KWAP, appropriate follow-up actions had been taken in accordance with its internal governance and accountability framework. - FMT
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