Malaysia’s US$47 million investment in Indonesian start-up revealed as fraud
Culture Index
Score Breakdown
Relevance
9/25
Freshness
25/25
Authority
18/20
Brand Signal
6/15
Depth
6/15
5-Axis Cultural Radar
The Retirement Fund Incorporated’s (KWAP) US$47.7 million investment in Indonesian agritech start-up eFishery was the victim of an orchestrated fraud, Malaysia’s finance ministry has confirmed. In a parliamentary written reply dated July 15, the ministry explained that KWAP’s July 2023 investment followed a robust evaluation and governance process. This included internal assessments, independent d
