KUALA LUMPUR, July 20 – Prime Minister Datuk Seri Anwar Ibrahim has stressed that the government will not tolerate any form of corruption or irregularities linked to Kumpulan Wang Persaraan (Diperbadankan)’s (KWAP) investment in aquaculture technology start-up eFishery.
Anwar, who also serves as Finance Minister, said the Malaysian Anti-Corruption Commission (MACC) should thoroughly investigate the investment process despite preliminary findings indicating no evidence of wrongdoing.
He revealed that he had met with KWAP’s management and instructed them to extend full cooperation to investigators.
“I have met with KWAP management and made it clear that they must cooperate fully. Based on the initial report, I believe there are no such elements, but we cannot tolerate any irregularities or corruption,” he said during a question-and-answer session in the Dewan Negara on Monday.
The Prime Minister added that the MACC should examine not only the investment itself but also the decision-making process, including the recommendations made by the investment panel and the approvals granted by KWAP’s board of directors.
Anwar was responding to a question from Senator Mohd Hasbie Muda on the government’s strategy to ensure that national retirement funds, including the Employees Provident Fund (EPF) and KWAP, continue delivering strong returns despite ongoing global geopolitical uncertainties.
He also addressed a supplementary question from Senator Wan Martina Wan Yusoff regarding whether the government plans to strengthen investment governance and improve the selection of future investment targets to better safeguard public funds.
Anwar noted that even globally respected financial institutions are not immune to investment failures, citing Goldman Sachs’ involvement in the 1Malaysia Development Berhad (1MDB) scandal as a reminder of the importance of strong governance and oversight.
“This is a lesson and a warning for all of us,” he said.
Last Thursday, the Ministry of Finance announced that KWAP’s investment in eFishery had been affected by what it described as a planned fraud involving the manipulation of the company’s financial statements by its management.
On Saturday, KWAP said it is continuing to pursue all available measures to maximise the recovery of its investment in the company while cooperating with the relevant authorities.
— MINUTESMY
