KWAP on the lookout for more investment opportunities

KUALA LUMPUR: Public sector pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP is eyeing for more investment opportunities following its US$30 million (RM123.3 million) injection into ride-sharing app Uber Technologies.
Speaking to reporters on the sidelines of the Khazanah Megatrends Forum 2016, KWAP CEO Datuk Wan Kamaruzaman Wan Ahmad said the fund has been evaluating various investment proposals, including homestay aggregator Airbnb.
"Honestly, we did look at Airbnb, unfortunately their funding requirement is so tight and we're not able to meet their timeline expectation, so at this moment we're not considering," he said.
However, he noted that KWAP does not discount any possibility provided that it meets the fund's investment criteria.
"One of the criteria is it must be cash flow positive with a clear exit strategy. We're not venture capital, we've to fit in our profile of what we can do," he said.