00:00Finance Minister Anwar Ibrahim said the Retirement Fund Inc. lost nearly RM200 million it invested
00:07in Indonesia's e-fishery due to fraud.
00:10The Prime Minister told Parliament the investment was approved only after due diligence was
00:16conducted and all audited financial statements were reviewed.
00:20However, he said e-fisheries management deliberately manipulated the company's financial records
00:26resulting in losses.
00:27Anwar said other major investors including Singapore's Temasek, Northstar Group and
00:33Japan's SoftBank also suffered losses on their investment.
00:38KWAP invested in e-fisheries in July 2023.
00:41However, e-fisheries co-founder Gibran Huzaifa was later convicted in Indonesia for fraud.
00:47Anwar said an investor consortium which includes KWAP is working to recover all investments.
00:54He also said KWAP is reviewing its investment and governance processes.
00:59Roman Dawi Kapari FMT
01:02I did not want to ask you czarries to get an example of what happened for this year.
01:02KWAP is secured this year's back since the year she was seeks to be respected.
01:02KWAP – true and I do not have a member of the company's business and a member of the company
01:02and
01:03industry.
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