With the Indonesian company’s co-founder now serving nine years in prison for duping investors on the state of his business, scrutiny has turned to how KWAP, as the custodian of Malaysian civil servants’ pensions, came to sink at least RM163.4 million into the firm.
Lawmakers are now pressing for someone at KWAP, which operates under the Finance Ministry, to be held accountable, with various quarters insisting that the matter should be regarded as an oversight failure rather than being dismissed as mere bad luck.
Malaysiakini breaks down what eFishery actually did, how KWAP ended up in the picture, and what the fallout could mean for the retirement fund of Malaysia's civil servants.
What is eFishery?
eFishery was the brainchild of Gibran Huzaifah, who was raised near the slums of East Jakarta as the son of a construction worker father and a homemaker mother.
While studying biology at...