IPOH, July 19 — Prime Minister Datuk Seri Anwar Ibrahim said he will explain in the Dewan Negara tomorrow the reported RM200 million loss involving Retirement Fund Incorporated’s (KWAP) investment in Indonesian company eFishery.
According to Sinar Harian reported that Anwar, who is also finance minister, said he would set out the facts surrounding the investment and would not offer excuses over the matter.
“I will answer the question in the Dewan Negara tomorrow,” was quoted as saying Madani programme the Taman Perpaduan Community Hall here today.
Anwar said KWAP had its own investment panel and board and did not report directly to the government, but insisted he would not use that as an excuse.
Aquaculture technology eFishery developed smart automatic feeding systems that used sensors to distribute feed and monitor consumption at fish and shrimp farms.
The Finance Ministry previously told Parliament that KWAP was believed to have fallen victim to an organised fraud involving the manipulation of eFishery’s financial reports by the company’s management.
The ministry said the investor consortium, including KWAP, had initiated legal action and fund-recovery efforts, while reviewing internal governance and strengthening investment controls.
The Malaysian Anti-Corruption Commission said yesterday that it had formed an investigation team to conduct a comprehensive review of the investment loss.
