Today's top Malaysian news, sport and lifestyle.
Australia is overhauling retirement fund regulations following the collapse of Shield and First Guardian, which wiped out A$1.1 billion in savings for 11,000 investors. New rules will ban unsolicited sales calls and improve financial advice oversight.
Prime Minister Anwar Ibrahim has defended the Retirement Fund (KWAP) performance, highlighting its RM12.9 billion net profit and 8.5% compound annual growth rate. He acknowledged investment losses while contextualising KWAP's broader strategy.
Prime Minister Anwar Ibrahim has declared the government will tolerate no corruption or fraud in KWAP's investment in eFishery, ordering the MACC to fully investigate the retirement fund's aquaculture technology deal.