Did preliminary information suggest misconduct by KWAP in the eFishery case?

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Preliminary information did not indicate misconduct by KWAP in the eFishery case
Prime Minister Datuk Seri Anwar Ibrahim said preliminary information did not indicate misconduct by Retirement Fund (Incorporated) (KWAP) regarding its RM163.4 million investment in Indonesian aquaculture startup eFishery. He also said the government supported investigations and had instructed KWAP and the Finance Ministry to cooperate fully with the Malaysian Anti-Corruption Commission (MACC). Anwar added that if there were elements of wrongdoing, the MACC must investigate.
Anwar said preliminary information pointed away from KWAP misconduct
Anwar told lawmakers in the Dewan Negara that early information did not show misconduct by KWAP in the eFishery investment. He framed the statement around the need for thorough examination while maintaining that the initial findings did not indicate wrongdoing by KWAP itself.
KWAP’s investment amount and context were repeatedly cited
The discussion centred on KWAP’s RM163.4 million investment in eFishery, which is described as being embroiled in an alleged fraud involving its management. KWAP confirmed its investment on July 18, and Anwar connected the issue to losses tied to the case while also referencing the fund’s broader performance figures.
Full MACC cooperation was ordered, with an investigation triggered if wrongdoing exists
Anwar said he had instructed full cooperation from KWAP and the Finance Ministry with the MACC. He stated that if there were elements of wrongdoing, the MACC must investigate, and the investment process and KWAP’s investment panel decisions would be examined.
Anwar said the investment process involved professional approvals
Anwar said the eFishery investment went through a rigorous process, including professional fund managers, feasibility studies, and approvals by KWAP’s investment panel and board. He added that government representatives were on the board but did not make investment decisions, and he noted that multiple rounds of auditing by internationally recognised firms were conducted even though the alleged fraud still went undetected.

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Did preliminary information suggest misconduct by KWAP in the eFishery case?

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