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Malaysia Won't Tolerate Misconduct in eFishery Investment Loss Case
🇲🇾 Malaysia /Economy & Trade

Malaysia Won't Tolerate Misconduct in eFishery Investment Loss Case

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

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  • The Malaysian government will not tolerate any wrongdoing in the case of losses incurred by the Retirement Fund Inc. (KWAP) in the Indonesian company eFishery.
  • Prime Minister Anwar Ibrahim stated that further investigation is needed, particularly into the approval procedures related to the investment loss.
  • The Malaysian Anti-Corruption Commission (SPRM) has begun an investigation into the alleged organized fraud, which the government fully supports.

Malaysia's Prime Minister Anwar Ibrahim has declared a zero-tolerance stance on any potential wrongdoing concerning the Retirement Fund Inc.'s (KWAP) investment losses in the Indonesian firm eFishery. The government is committed to a thorough investigation into the approval processes that led to these losses.

Anwar Ibrahim expressed full support for the Malaysian Anti-Corruption Commission (SPRM) as it launches its inquiry into the alleged organized fraud. He emphasized that the investigation must scrutinize not only potential corruption but also the investment procedures and decisions made by KWAP's investment panel and board.

Speaking during a question-and-answer session in the Dewan Negara, the Prime Minister responded to a query from Senator Dr. Hajah Wan Martina Wan Yusoff. He stressed the necessity of examining whether any procedural oversteps or breaches of law occurred in the investment process.

DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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