KUALA LUMPUR — May 29, 2019: Two loans totalling RM4 billion from Retirement Fund Incorporated (KWAP) to SRC International Sdn. Bhd. in 2011 and 2012 were among the highest approved by the statutory body.
But former KWAP chief executive officer Datuk Azian Mohd. Noh agreed with a lawyer that the applicant followed procedures when applying and that the payments were made according to KWAP’s conditions.
Azian further agreed that SRC International fulfilled all conditions in the documents prepared by the panel of lawyers from Messrs Hisham Sobri and Kadir, apart from the fact that SRC International was qualified to get the loan as the company was under the finance ministry.
Azian was CEO and an ex-officio member of the KWAP board from March 2007 until her retirement in March 2013, according to Bernama.
She testified today at the trial of Najib who is facing seven charges of misappropriating SRC International money totalling RM42 million.
Azian, who is a director of Danajamin Nasional Berhad, said KWAP also received from the mnistry a letter agreeing to furnish a 10-year guarantee for the second RM2 billion loan, pursuant to a Cabinet endorsement.
The letter sought KWAP’s consideration for the sum to be released in advance, with the ministry pledging to submit the government guarantee within 10 days, recalled Azian, and this had never happened before.
She also confirmed about a letter from the ministry to change the purpose of the loans for investments in natural resources and as revolving fund. The letter was also based on a cabinet decision.