PM Anwar to Explain Malaysian Pension Fund's Losses in Indonesian Startup eFishery to Parliament

Kuala Lumpur (ANTARA) – Malaysian Prime Minister Anwar Ibrahim will deliver an explanation to the Malaysian parliament regarding the issue of investment losses incurred by the Malaysian civil servants’ pension fund (Kumpulan Wang Persaraan/KWAP) in the Indonesian aquaculture startup eFishery.

“I will answer questions in the Senate (Dewan Negara) tomorrow,” said Anwar, who also serves as Malaysia’s Finance Minister, speaking to the media in Ipoh, Perak, Malaysia, on Sunday.

Earlier, Malaysia’s Ministry of Finance confirmed that KWAP fell victim to organised investment fraud following the manipulation of financial reports by eFishery’s management.

eFishery is an Indonesian aquaculture technology startup founded in 2013. The company was initially known as a pioneer of smart fish farming solutions—such as automatic fish feeding machines.

Last year, one of eFishery’s founders, Gibran Huzaifah, was reported to have been sentenced to nine years in prison by a court in Bandung, Indonesia, after being found guilty of embezzlement and money laundering.

Separately, KWAP stated in a written statement that it had invested 163.4 million ringgit in eFishery, representing approximately 2.51 per cent of the company’s total shareholding.

KWAP said it is a minority shareholder in eFishery, while the majority of the company’s shares are held by other investors, including major global institutional investors who were also affected by the wrongdoing.

According to KWAP, appropriate follow-up actions have been taken in accordance with its internal governance and accountability framework.

Meanwhile, the Malaysian Anti-Corruption Commission (MACC) also stated that a team has been formed to study and thoroughly examine the issue of the investment losses.