KWAP Balances Investment Approach, Strengthens Oversight On Startups -- MoF

KUALA LUMPUR, July 9 (Bernama) -- 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.

“In startup investments, rapid growth, aggressive expansion strategies and high capital utilisation are among the factors continuously monitored,” it said in a written reply on the parliament website today.

The MoF was replying to a question from Wong Chen (PH-Subang) regarding the methods used by KWAP to monitor its investment in eFishery after July 2023.

Previously, media reports stated that Gibran Huzaifah, the co-founder of the Indonesian aquaculture company eFishery, was sentenced to nine years jail for misappropriation and money laundering, thereby concluding a high-profile US$300 million case.

-- BERNAMA