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Australia's government is introducing sweeping reforms to protect retirement investors after two major funds collapsed, wiping out A$1.1 billion in savings for around 11,000 Australians through predatory practices.
Malaysia's Retirement Fund Incorporated generated RM12.9 billion in investment earnings, but this remains insufficient to meet the government's nearly RM45 billion annual pension liability, according to Prime Minister Anwar Ibrahim.
Prime Minister Anwar Ibrahim has declared the government will tolerate no corruption or fraud involving KWAP's investment in eFishery, an aquaculture technology startup. He has ordered the Malaysian Anti-Corruption Commission to conduct a comprehensive investigation.