The Malaysian Anti-Corruption Commission (MACC) is broadening its investigation into the Retirement Fund (Incorporated) (KWAP) by seeking documents from Dubai, Singapore, and Indonesia. This move aims to uncover details about KWAP's RM200 million investment in Indonesian aquaculture technology company eFishery, which has reportedly suffered significant losses due to alleged financial misconduct.
MACC Chief Commissioner Datuk Seri Abd Halim Aman announced that the commission is collaborating with the Attorney General’s Chambers to initiate the Mutual Legal Assistance (MLA) process. This legal procedure is designed to facilitate the exchange of information between countries to support investigations. The focus on Dubai, Singapore, and Indonesia stems from the belief that key documents related to the investments are held in these jurisdictions.
Since the investigation began on July 17, MACC has recorded statements from 20 witnesses, including officials from KWAP and the Ministry of Finance, as well as members of KWAP’s Investment Committee and investment panel. Additionally, the commission has sought assistance from Bank Negara Malaysia to trace the financial positions of companies linked to the investigation and to review Cash Transaction Reports (CTR) and Suspicious Transaction Reports (STR) to establish the financial standing of individuals and entities involved.
The investigation is ongoing, and MACC cautioned that the MLA process may take longer due to the involvement of multiple jurisdictions and the need for cooperation from foreign authorities. This includes recording statements from witnesses overseas, and the commission is committed to seeking the necessary cooperation to ensure the MLA process can proceed effectively.
The public is advised to refrain from speculation to preserve the integrity of the investigation. MACC emphasizes that the probe will be conducted fairly, transparently, and in accordance with existing legal provisions.