‘No excuses’: Anwar to explain KWAP’s RM200m eFishery investment loss in Dewan Negara tomorrow
Malaysian Prime Minister Anwar Ibrahim has committed to addressing a RM200 million investment loss by the Retirement Fund Incorporated (KWAP) in the Indonesian firm eFishery. The government suspects the loss resulted from fraudulent financial reporting by eFishery management, and an investigation is currently underway.
Why it matters
The incident highlights risks in international venture capital investments and raises questions about government-linked fund governance and accountability.
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.
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