Prime Minister Datuk Seri Anwar Ibrahim will explain KWAP’s investment loss linked to Indonesian aquaculture technology company eFishery during the Dewan Negara sitting today in Kuala Lumpur [1, 2, 3].
KWAP invested approximately RM163.4 million in eFishery, holding about 2.51% of the company’s shares, according to official figures [1, 2]. However, the reported loss from this investment has been cited as about RM200 million by some sources [1, 3].
The Finance Ministry revealed that KWAP fell victim to a planned fraud involving manipulation of eFishery’s financial statements by the company’s management [1, 3]. KWAP is a minority shareholder alongside major global institutional investors, who were also affected by the misconduct [1, 2].
In response, KWAP has implemented follow-up actions under its internal governance and accountability framework. It has also reviewed investment and post-investment monitoring processes to prevent a recurrence [1, 2, 3].
The Malaysian Anti-Corruption Commission (MACC) has assembled a special investigation team to conduct a comprehensive review regarding KWAP’s loss in eFishery [1, 2, 3].
eFishery, based in Indonesia, developed smart automatic feeding systems using sensors to monitor feed consumption at fish and shrimp farms [3]. Its co-founder Gibran Huzaifah was sentenced to nine years in prison in Bandung, Indonesia, for criminal breach of trust and money laundering before July 2026 [1].
Prime Minister Anwar said, "I will answer the question 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" [1].
KWAP initially invested about US$47.7 million in eFishery in July 2023 [1]. The Prime Minister announced on July 19 his plan to address the issue in Parliament on July 20, and the session was deferred to today, August 11 [1, 2, 3].
