KWAP's eFishery scandal won't affect pension payments, says Tengku Zafrul
Malaysian official Tengku Zafrul stated that a fraudulent investment in the startup eFishery will not impact the country's pension fund payments. The fund lost a portion of its investment due to falsified financial statements by the startup.
Why it matters
It addresses public concern regarding the security of national pension funds following high-profile startup fraud.
PETALING JAYA: The Retirement Fund (Incorporated) (KWAP)'s investment in Indonesian aquaculture technology company eFishery will not affect the payment of civil service pensions or the fund's financial position, says Tengku Datuk Seri Zafrul Abdul Aziz.
Responding to claims circulating online, the senior political advisor to the Prime Minister and also chairman of the Malaysian Investment Development Authority (Mida) said the amount invested in eFishery was RM163mil, not RM200mil as alleged.
He said the investment represented less than 0.1% of KWAP's RM195bil fund as at 2025, and less than 1% of the fund's approximately RM18bil investment income recorded in its latest audited financial year.
"As such, the eFishery case does not have a significant impact on KWAP's financial position or its ability to continue helping the government bear pension costs," he said in a Facebook post and accompanying video on Monday (July 20).
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