Najib’s SRC trial: KWAP breached its investment policy on initial RM2b loans | Malay Mail

Datuk Seri Najib Tun Razak is pictured at the Kuala Lumpur High Court May 6, 2019 May 6, 2019. — Picture by Firdaus Latif

The prosecution’s 29th witness Amirul Imran Ahmat testified that rules under Paragraph 5 of the IPG were infringed upon when SRC International obtained a total of RM4 billion from KWAP in two separate loan agreements of RM2 billion each in 2011 and 2012 respectively. Amirul Imran previously worked as KWAP’s Fixed Income Department assistant vice-president from January 2011 to August 2013, and was involved in the approval procedures that went on to approve the eventual RM4 billion loan afforded to SRC International.

He pointed out that based on both loan agreements signed by SRC International, the money loaned from KWAP cannot be used for other purposes except those stated in the agreement.

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