KUALA LUMPUR — May 2, 2019: SRC International Sdn. Bhd. wanted a start-up of RM3 billion in August 2010 but was given only RM20 million by the government via an approval from the Economic Planning Unit.
The application for the grant was made by SRC International’s parent company 1Malaysia Development Berhad. It was signed by former 1MDB CEO Datuk Shahrul Ibrahim Halmi and submitted first to former prime minister Datuk Seri Najib Razak.
In her testimony today, former deputy director-general of the PM Department’s Economic Planning Unit, Datuk Dr. Kamariah Noruddin, said SRC International was set up to maintain a strategic hold on the country’s natural resources, such as coal, uranium, iron, aluminum, oil and gas,
Bernama quoted Kamariah as saying that she was then instructed by director-general Datuk Noriah Ahmad to make comments for the purpose of evaluating the application.
Najib also issued an instruction to then minister in the PM’s Department Tan Sri Nor Mohamed Yakcop to consider the application and prepare comments.
According to Kamariah, the comment supported 1MDB’s proposal to establish SRC International for the production of coal and uranium. The application for RM3 billion was not supported but approval was given for RM20 million as startup capital.
She also said that the application for RM3 billion was not approved because oil and gas was being handled by Petronas while coal was basically handled by Tenaga Nasional Berhad, which imported 80 per cent from Indonesia, while iron and aluminium were under private companies.
Nor Mohamed supported a letter before it was sent to the PM’s Office and approved by Najib.
Najib, 66, is charged with three counts of criminal breach of trust, one charge of abusing his position and three counts of money laundering involving SRC International totalling RM42 million.