No graft elements found in KWAP eFishery probe so far

The Malaysian Anti-Corruption Commission (MACC) has yet to uncover any element of corruption in its probe into the Retirement Fund (Incorporated) (KWAP) investment in Indonesian aquaculture technology firm eFishery.

MACC chief Abd Halim Aman said investigations are ongoing to determine if there was any corruption, misappropriation or abuse of power involved in KWAP’s RM163.4 million investment loss.

He said 19 people have given their statements to assist with the probe, including officers from KWAP, the Treasury and Khazanah Nasional Bhd, Harian Metro reported.

“So far, no arrests have been made as we do not see any necessity to detain anyone. But the investigation process is ongoing,” he said, adding that MACC would also probe for elements of money laundering.

As the investigation also involves foreign entities, he said the agency requires the cooperation of Singaporean and Indonesian authorities to record the statements of several people and obtain certain documents.

“This will take a while as we must apply for mutual legal assistance through the Attorney-General’s Chambers before the request is conveyed to the relevant country,” he added.

Last month, the finance ministry said KWAP had fallen victim to alleged organised fraud in eFishery following the manipulation of financial reports by the Indonesian company’s management.

The ministry said a consortium of investors, including KWAP, was pursuing legal proceedings to recover funds.

KWAP said it invested a total of RM163.4 million in the Indonesian firm, which only represented about 2.51% of its total shareholding.

Last year, eFishery co-founder Gibran Huzaifah was sentenced to nine years in jail by a court in Bandung, Indonesia, after being convicted of embezzlement and money laundering.