Round-the-clock breaking news from Malaysia.
Malaysia's Retirement Fund (KWAP) is actively pursuing the recovery of RM163.4 million invested in eFishery following fraud allegations. The fund confirmed its commitment to retrieving the capital amid broader concerns about pension fund investment oversight.
Alipay+ transaction volumes surged 89.6% to RM824 million in 2025 as foreign tourists, particularly from China, increasingly use digital payments in Malaysia. The growth continues through early 2026.
Malaysia's retirement fund KWAP was deliberately deceived in an Indonesian aquaculture startup investment involving inflated revenues of nearly US$600 million, the Ministry of Finance has confirmed. Legal action and fund recovery are underway.
Finance Minister Anwar Ibrahim has alleged that Malaysia's armed forces pension fund KWAP was deliberately deceived in a RM200 million eFishery venture, with company executives accused of manipulating financial documentation.
The Employees Provident Fund's i-Legasi initiative has approved 63 applications involving RM46.3 million in transfers to 86 beneficiaries since launching in February. Deputy Finance Minister Liew Chin Tong highlighted the scheme's role in strengthening family savings.
The National Higher Education Fund Corporation is running a four-month promotional campaign offering nearly RM500,000 in prizes to 106 winners to incentivise Malaysians to save for their children's tertiary education through the Simpan SSPN Prime scheme.
Malaysia's Finance Ministry and banking sector have agreed to eliminate the RM1 fee for interbank ATM withdrawals nationwide from July 1, a move designed to reduce costs for ordinary Malaysians and improve financial access in underserved rural communities.
Malaysia will exempt Service Tax on service charges and sinking fund contributions for non-residential buildings starting July 1, 2026, providing relief to property owners, businesses, and management bodies grappling with rising operational costs.