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  • 10 hours ago
A recent investment in Jakarta exposed weaknesses in the Retirement Fund, Inc (KWAP) investment process as it relied too heavily on international trends, says Datuk Seri Anwar Ibrahim.

The Prime Minister said the investment highlighted the need to tighten safeguards when investing public funds, despite due diligence and stringent investment committee procedures.

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Transcript
00:00If you look at Felda or Bunghaji,
00:04the money in the KWAP in Indonesia
00:08in the E-fisheries is small, $160 million.
00:11But from the losses,
00:15the losses, the losses are also very small
00:18from the money in the KWAP.
00:22What is the KWAP?
00:24What is the KWAP?
00:24What is the KWAP?
00:27And what is the KWAP?
00:31And also in the context of due diligence,
00:35what has been added to the KWAP?
00:40To see the KWAP is the KWAP in the future,
00:46will be done well through the due diligence process
00:51so that it does not cause the KWAP.
00:54What is the KWAP?
00:58Thank you, Mr. Ritri.
01:00Thank you, Mr. Ritri.
01:01If you are in the context of the KWAP,
01:04the KWAP is when we are done after the KWAP,
01:09the KWAP is when the KWAP is done well through this,
01:10it is the power of due diligence,
01:14the power of the law before it comes to the KWAP.
01:18It is very strong and strong.
01:20But I see the power of the KWAP in the KWAP in the KWAP.
01:24It is very strong because they are just following the international trend.
01:32Kerana syarikat-syarikat besar yang berupaya di Perancis dan beberapa luar,
01:38ikut jadi mereka rasa cukup.
01:40Ini saya rasa sesuatu kelemahan yang berlaku dalam proses itu.
01:45Saya terima peringatan bahawa dalam menjaga amanah wang rakyat itu,
01:53harus ada beberapa proses yang lebih ketat lagi.
01:56Walaupun saya lihat itu secara terus terang Tan Sri,
02:02memang prosesnya ketat.
02:04Cuma dalam kes ini dia rasa oleh kerana bergantung pada Softbank.
02:08Tak mungkin Softbank melabur dengan begitu cuai.
02:12Tapi kenyataannya begitu.
02:15Mengharapkan beberapa agensi, institusi internasional,
02:19Jepun dan Eropa,
02:21dan memberikan lead kepada kita tak semestinya betul.
02:25Jadi yang dilakukan ialah memperketatkan lagi peraturan,
02:30bukan saja ikut trend internasional,
02:33tetapi juga bertanggungjawab dalam kes ini.
02:36Kerana dalam kes itu memang saya akui.
02:39Tetapi tidak boleh menafikan keperhasilan kuap keseluruhannya
02:44yang mencatat keuntungannya lumayan dan catat rekod baru-baru ini.
02:49Itu yang nyata.
02:50Tapi kelemahan itu kita harus akui.
02:52Terima kasih.
02:55Terima kasih.

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