MACC extends KWAP probe to Dubai, Singapore, and Indonesia

The Malaysian Anti-Corruption Commission (MACC) is expanding 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 investments in these regions, particularly focusing on a significant loss from an investment in Indonesian aquaculture technology company eFishery. The MACC is collaborating with the Attorney General's Chambers to initiate the Mutual Legal Assistance (MLA) process, which involves obtaining cooperation from foreign authorities to access crucial documents. The investigation, which began on July 17, has already seen statements from 20 witnesses, including officials from KWAP and the Ministry of Finance. Additionally, the MACC has requested assistance from Bank Negara Malaysia to trace the financial positions of companies linked to the investigation and to review transaction reports. The MLA process is expected to take longer due to the involvement of multiple jurisdictions and the need for international cooperation. The MACC is committed to a thorough investigation to ensure transparency and accountability in KWAP's investment activities.