THE investment loss involving Indonesian aquaculture technology company eFishery will not significantly affect Retirement Fund Incorporated (KWAP)’s financial strength or its capacity to support government pension payments, said Datuk Seri Tengku Zafrul Abdul Aziz.
The Senior Political Advisor to the Prime Minister said KWAP’s total fund size stood at RM195 billion in 2025, while the retirement fund recorded RM18 billion in investment income in 2024, its latest audited financial year.
"The total eFishery investment was less than one per cent of KWAP’s investment income in 2024, while in 2025, the total eFishery investment was less than 0.1 per cent of the overall fund," he said in a video posted on Facebook today.
Tengku Zafrul stressed that the government’s obligation to pay civil servants’ pensions remained unchanged, as KWAP operates differently from the Employees Provident Fund (EPF).
"Civil servants do not have individual savings accounts that would be reduced when a single investment suffers losses.
"So regardless of what happens with eFishery, the government will continue paying public sector pensions as usual," he said.
He clarified that the actual loss incurred by KWAP from the investment was RM163 million, rather than RM200 million as previously reported, with efforts underway to recover the funds.
"The RM163 million remains public money. Every sen that can be recovered must be pursued.
"If there was negligence, those responsible must face action. We will not hide failures, but we must not mislead the public by claiming that KWAP is nearly bankrupt and that civil servants’ pensions cannot be paid," he said.
Earlier, Prime Minister Datuk Seri Anwar Ibrahim said the eFishery investment was made through established assessment and governance procedures based on available information.
He said the process included verification of financial statements by qualified international auditors and independent due diligence conducted by a consortium of investors, including KWAP. - July 20, 2026
