Key facts
- Malaysia's state pension fund, Kumpulan Wang Amanah Pencen (KWAP), is investigating a failed investment.
- The investment was made in Indonesian aquaculture technology firm eFishery.
- Reports suggest the investment has led to substantial losses for KWAP.
- The probe aims to understand the circumstances surrounding the investment's poor performance.
Malaysia's state pension fund, Kumpulan Wang Amanah Pencen (KWAP), has launched an investigation into a substantial investment loss concerning its stake in Indonesian aquaculture technology firm eFishery. The probe follows reports indicating a significant decline in the valuation of eFishery.
While details surrounding the exact amount of the loss and the timeline of the investment remain undisclosed, the investigation signifies KWAP's commitment to understanding the circumstances that led to the underperformance of its portfolio. eFishery, a prominent player in the aquaculture technology sector, has reportedly experienced a considerable drop in its market valuation, prompting scrutiny from its investors.
Further details are expected to emerge as the investigation progresses.