Kuala lumpur: The Retirement Fund (Incorporated) (KWAP) will continue to balance its investment approach, including placing greater emphasis on investments through funds and fund managers that possess sector expertise, market networks and specialised monitoring capabilities. The Ministry of Finance (MoF) said this approach helps strengthen risk diversification and layers of monitoring, particularly for investments in unlisted companies and startups.

According to BERNAMA News Agency, the MoF emphasized that in startup investments, rapid growth, aggressive expansion strategies, and high capital utilisation are among the factors continuously monitored. This statement was made in a written reply on the parliament website today in response to a question from Wong Chen (PH-Subang) regarding the methods used by KWAP to monitor its investment in eFishery after July 2023.

The inquiry came after reports that Gibran Huzaifah, the co-founder of the Indonesian aquaculture company eFishery, was sentenced to nine years in jail for misappropriation and money laundering. This legal outcome concluded a high-profile US$300 million case, highlighting the importance of KWAP's enhanced monitoring efforts in safeguarding its investments.