INDONESIA: Anwar to Address KWAP’s Investment Losses in Indonesia’s eFishery

Posted by Asia Views | Jul 20, 2026 | 0 |

JakartaGlobe/Bernama-July 19

Malaysian Prime Minister Anwar Ibrahim said on Sunday he would explain the Retirement Fund Inc. (KWAP)’s investment losses in Indonesian aquaculture startup eFishery when he addresses the Dewan Negara, the upper house of Parliament, on Monday. Anwar, who also serves as finance minister, said he would present the facts surrounding the investment despite KWAP operating independently of the government. “KWAP is a financial institution that manages pension funds. It has its own investment panel and board, and it does not report directly to us. But I do not want to use that as an excuse. Let us present the facts tomorrow in the Dewan Negara,” Anwar was quoted as saying by the state news agency Bernama. Malaysia’s Finance Ministry said in a written parliamentary reply on Thursday that KWAP had fallen victim to an alleged fraud after eFishery’s management manipulated the company’s financial statements.

KWAP invested $47.7 million in eFishery in July 2023. The pension fund later disclosed that its total investment amounted to 164.3 million ringgit ($38.8 million at current exchange rates), representing a 2.51% stake in the company. It said it was a minority shareholder and that several major international institutional investors also suffered losses. Malaysia’s Anti-Corruption Commission has established a special task force to conduct a comprehensive review of the investment, according to Chief Commissioner Abdul Halim Aman. Founded in 2013, eFishery became one of Indonesia’s most prominent technology startups after raising $200 million in a Series D funding round in 2024. The company became embroiled in controversy after a Bloomberg report in January 2025 cited a forensic review alleging that management had inflated revenue by nearly $600 million between January and September 2024 through manipulated financial reporting. Police arrested eFishery co-founder Gibran Huzaifah and two other executives in August 2025 over alleged financial statement manipulation. Gibran was later convicted of criminal breach of trust and money laundering by the Bandung District Court and sentenced to nine years in prison. Indonesian media reported on Sunday that the West Java High Court reduced his sentence to six years on appeal while upholding the conviction. Read more at:

https://jakartaglobe.id/news/anwar-to-address-kwaps-investment-losses-in-indonesias-efishery

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EXTRICATING NDONESIAN CHILDREN FROM ISIS INFLUENCE ABROAD

Indonesia urgently needs to revisit the possibility of repatriating the neediest of its young citizens stranded abroad, whose families had earlier joined ISIS. Most of these children are in camps in northern Syria but there are also small numbers in the Philippines, Afghanistan and Iraq. “Extricating Indonesian Children from ISIS Influence Abroad”, the latest report from the Institute for Policy Analysis of Conflict (IPAC) argues that the government could begin by bringing back small groups of unaccompanied children under ten years of age, who pose minimal security risk and are most vulnerable to deteriorating conditions in the camps.“The problem is that health and security conditions are worsening by the day in the Syrian camps, and the children are growing older,” says Dyah Kartika, IPAC analyst. “They need access to schools, a nurturing environment, and medical attention. If the government waits too long, the children will be further exposed to ISIS ideology.” The new report examines a 2019 list of Indonesians in camps and prisons run by the Kurdish Syrian Democratic Forces (SDF). The Indonesian government has been trying to verify their citizenship, but with pseudonyms, misspellings and bad transliterations, it is a daunting task. At the time the data was collected, between March and June 2019, there were 555 Indonesians in SDF camps and prisons, including 367 children. Among the children, approximately 277 were under the age of ten and 34 were unaccompanied. In June 2021, there are fewer than ten children who are both unaccompanied and under the age of ten that could be prioritized for return. Bringing back children of ISIS families is no easy task. The report analyses the main challenges faced by the Indonesian government. These include definitional issues, bureaucratic competition, the difficulty of verifying nationality, evaluating the toll of exposure to conflict, assessing security risk, and finding relatives or others willing to provide care once the children are returned. In addition, COVID has meant stringent restrictions on travel, placing further obstacles in the way of repatriation. There are several models for rehabilitation of children exposed to violent extremism in Indonesia that could be modified to accommodate the needs of children repatriated from abroad. The report examines these models and argues that the government does not need to have every detail of rehabilitation programs in place before it starts extricating children from ISIS influence. It can start by bringing back the most vulnerable children and then modify programs as needed.

“It’s important that the government see these children as victims” says Dyah. “They deserve a chance to be children again.”

INDONESIA: Anwar to Address KWAP’s Investment Losses in Indonesia’s eFishery

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