KUALA LUMPUR (Sept 22): Uber Technologies Inc today confirmed that it has received an investment from Kumpulan Wang Persaraan (Diperbadankan) or KWAP, the country's public-sector pension fund. This confirms a Reuters report yesterday (Sept 21) that KWAP has invested in Uber and was looking to pump more money into technology firms. KWAP chief investment officer Datuk Wan Kamaruzaman Wan Ahmad was quoted as saying that the pension fund had committed to a US$30 million (RM124.2 million) investment in its "first disruptive technology deal" in a foreign firm. "We are delighted that KWAP of Malaysia, one of the biggest pension funds in Southeast Asia, is investing in Uber. Uber operates in more than 400 cities worldwide, including six in Malaysia (Kuala Lumpur, Penang, Johor Baru, Ipoh, Kota Kinabalu and Kuching).

Source: The Edge Markets September 22, 2016 09:33 UTC