Anwar: Malaysia civil servants' pension fund hit by eFishery case

Malaysian Prime Minister Anwar Ibrahim said Malaysia’s civil servants’ pension fund, worth US$47.7 million, about Rp852 miliar, was also affected by alleged fraud at Indonesian aquaculture startup eFishery. In a written reply to parliament, Anwar said Kumpulan Wang Persaraan Inc (KWAP) has joined legal action, sought recovery of the funds and reviewed the investment’s evaluation, approval and monitoring process. He said the investment decision was made through due diligence and on the basis of financial statements that had been audited at the time. However, Anwar said the case arose because eFishery management manipulated its financial reports. KWAP’s investment was reported to have come in July 2023. Anwar also said other investors, including Temasek, SoftBank, 42XFund and Northstar, also bore losses. In 2024, eFishery founder Gibran Huzaifah was suspended, and last year he was sentenced to nine years in prison by the Bandung District Court.