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Prime Minister Anwar Ibrahim has stated that the Retirement Fund (Incorporated) was deceived into a RM200 million investment in eFishery despite undertaking proper due diligence procedures, signalling governance concerns.
Malaysia's Retirement Fund (KWAP) is actively working to recover RM163.4 million invested in eFishery after the Indonesian aquaculture platform became embroiled in a major fraud scandal affecting multiple investors across the region.
Prime Minister Anwar Ibrahim has indicated that preliminary findings suggest no impropriety in Retirement Fund Incorporated's RM163.4 million investment in Indonesian aquaculture startup eFishery, yet maintains that the Malaysian Anti-Corruption Commission should conduct a thorough investigation.
Prime Minister Anwar Ibrahim will address parliamentary concerns over Malaysia's retirement fund KWAP's RM163.4 million loss in Indonesian aquaculture company eFishery, attributed to deliberate fraud and falsified financial statements.
KWAP says it is actively pursuing all options to recover its RM163.4 million investment in eFishery after discovering the Indonesian aquaculture startup engaged in deliberate financial fraud and misrepresentation.