KUALA LUMPUR — May 7, 2019: SRC International Sdn. Bhd. had a loan limit of only RM1 billion when it applied for RM3.95 billion from the retirement fund KWAP a few years ago, based on the latter’s investment panel paper.
It was also suggested by KWAP’s former assistant vice president (Fixed Income Department) Amirul Imran Ahmat that the panel would have rejected the loan if it could. Harvinderjit then reminded Amirul that he was not on the panel and had no locus standi to speak on its behalf, to which the witness acknowledged that this was his personal opinion.
On questioning by lawyer Harvinderjit Singh for former prime minister Datuk Seri Najib Razak, Amirul denied changing his position on the loan amount after KWAP had given the loan.
Najib is facing three counts of criminal breach of trust, one count of abusing his powers and three counts of money laundering involving SRC International money totalling RM42 million.
Amirul also told the court that SRC International’s proposal only looked good on paper and was superficial, adding that SRC International former director Nik Faisal Ariff Kamil, former 1MDB director Terence Geh and another by the name of Zahid Taib chose not to talk about the RM2 billion loan during meetings with KWAP’s investment board.
Nonetheless, the documents shared by SRC were still unable to justify the financing they requested and the documentation for the financing application was incomplete, Amirul testified. — Bernama