EFishery has raised hundreds of millions in an attempt to modernise the country’s fish industry.

The Straits Times

Singapore

Temasek-backed Indonesian unicorn EFishery allegedly faked most of its sales

Media Bias/Fact Check

Singapore Press Holdings

EFishery Pte, one of Indonesia’s most prominent startups, may have inflated its revenue and profit over several years, according to an internal investigation triggered by a whistleblower’s claim about the company’s accounting. A preliminary, ongoing probe into the agritech startup, backed by investors including SoftBank Group Corp. and Temasek Holdings…

BusinessMirror

SoftBank-backed fish firm allegedly faked most of its sales | David Ramli, Olivia Poh & Yoolim Lee

Indonesia’s agritech unicorn eFishery is under scrutiny following allegations of inflated revenue and profit figures, casting a shadow on the country’s start-up scene. An internal investigation, initiated by a whistle-blower’s claims, accuses eFishery of overstating revenue by nearly US$600 million (S$811 million) for the nine months ending September 2024. The probe, led by FTI Consulting and detailed in a draft report obtained by Bloomberg, ind…

The Online Citizen

Temasek-backed eFishery accused of inflating revenue and profit by US$600 million

A third party investigation into eFishery’s accounts has allegedly found evidence of financial manipulation and fabricated transactions in order to inflate the company’s profit figures.

thefishsite.com

Details of eFishery allegations emerge

https://www.straitstimes.com/business/co...-its-sales

sgtalk.net

Oh no...not again ..Temasek backed.company fake its sales

eFishery, one of Indonesia’s most prominent startups backed by SoftBank and Temasek, may have inflated its revenue and profit over several years, according to an internal investigation triggered by a whistleblower’s claim about the company’s accounting, Bloomberg reported on Wednesday. A preliminary, ongoing probe into the agritech startup estimates that management inflated revenue by almost $600 million in the nine months to September last year…

Temasek-backed Indonesian unicorn EFishery allegedly faked most of its sales

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