See what happens to retirement fund now after era of Najib, Jho Low & 1MDB, SRC
KWAP’s net income jumps nearly 37 times in FY2023 KWAP chief executive officer Datuk Nik Amlizan Mohamed (left) and KWAP chief investment officer Hazman Hilmi Sallahuddin at the retirement fund's results announcement on July 31, 2024. THE EDGE PICTURE BY SHAHRIN YAHYA The Retirement Fund Inc, better known as KWAP, reported today, Wednesday 31st July, 2024, that its net income jumped nearly 37 times for the financial year ended December 31, 2023 (FY2023), The Edge reported. Net income totalled RM9.7 billion — the second highest since its inception in 2007 — compared to RM263 million booked in FY2022, the fund said in a statement. Total fund investment return stood at 8.2% for the year. “KWAP’s notable performance in 2023 builds on our strong track record in meeting both our financial and social objectives,” said chief executive officer Datuk Nik Amlizan Mohamed. “These results validate the effectiveness of our investment model to generate sustainable returns for our stakeholders.