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Malaysia launches probe into pension fund losses from eFishery

Malaysia’s anti-corruption commission said KWAP invested about 163.4 million ringgit, about 2.5% of eFishery’s shares, and plans to seek possible recovery.

Reported · Written up by our desk · Emerging Markets

Malaysia has opened an investigation into losses tied to state pension fund KWAP’s investment in Indonesia agritech startup eFishery, according to the Malaysian Anti-Corruption Commission.

The commission said a team was formed on Friday to study the matter thoroughly, with Chief Commissioner Abdul Halim Aman stating the inquiry will be conducted fairly, transparently, and impartially. He also urged the public not to speculate to avoid confusion and protect the integrity of the process.

KWAP invested about 163.4 million ringgit, about US$40 million, into eFishery, representing roughly 2.5% of the company’s shareholding, the pension fund said. KWAP described itself as a minority shareholder, noting that other investors, including major global institutional investors, were similarly affected.

KWAP said it is continuing to pursue available avenues to maximize recovery of its investment, SCMP Economy reported.

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