THE Malaysian Anti-Corruption Commission (MACC) has commenced an investigation into Kumpulan Wang Persaraan (Diperbadankan)'s (KWAP) investment in Indonesian aquaculture technology company eFishery following allegations of financial misconduct linked to losses of nearly RM200 million.
MACC Chief Commissioner Datuk Seri Abd Halim Aman confirmed the investigation when contacted on Saturday.
“I will issue a further statement on this matter today,” he said.
The probe comes after Prime Minister Datuk Seri Anwar Ibrahim said the investment in eFishery had been approved through established due diligence and governance processes based on the information available at the time of the investment.
Anwar, who is also Finance Minister, said the investment decision was supported by audited financial statements verified by internationally recognised external auditors.
He added that the consortium of investors, including KWAP, had also undertaken independent due diligence to ensure that all information available for investment consideration was complete and credible.
KWAP invested US$47.7 million (approximately RM200 million) in eFishery in July 2023.
The Indonesian start-up was promoted as a technology-driven aquaculture company aimed at modernising the fish and shrimp farming industry.
However, the company later became embroiled in allegations of financial misconduct involving the manipulation of financial information.
Last year, eFishery co-founder and former chief executive officer Gibran Huzaifah was sentenced to nine years' imprisonment by a court in Bandung, Indonesia, after being convicted of criminal breach of trust and money laundering.
The investigation is expected to examine the circumstances surrounding KWAP's investment, including whether there were any elements of misconduct or breaches of governance in the investment process. - July 18, 2026
