Najib's SRC trial: Former PM asked KWAP to rush loan approval, says witness

  • 📰 staronline
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 75%

Loans Loans Headlines News

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak asked Retirement Fund Incorporated (KWAP) to rush the approval for the RM2bil loan to SRC International Sdn Bhd in 2011, the court was told on Thursday (May 9).

Witness Azlida Mazni Arshad, KWAP's Legal and Secretarial Department vice-president, said she was informed of this in a special meeting chaired by KWAP chairman Tan Sri Wan Aziz Wan Abdullah.

The witness was reading from a witness statement on the 16th day of Najib's corruption trial involving RM42mil in SRC International funds here on Thursday . Azlida Mazni said in the same meeting, KWAP's Fixed Income Department proposed that SRC's loan conditions be tightened with additional conditions.

After the proposal was deliberated, the witness said that a special investment panel had opined that a RM2bil loan was too big for a RM2 start-up company .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Imbas Kembali ucapan Mat Sabu : 'PM - Najib Menteri Kewangan - Najib Penasihat 1MDB - Najib Penasihat SRC - Najib' SRC mohon pinjaman KWAP (bawah Menteri Kewangan) ... Najib mohon Pinjaman KWAP, Najib Luluskan 😎

Kalau mahathir nak suruh kwap lulus loan ok tak

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Najib trial: KWAP asked to release RM2b to SRC before govt guarantee given | Malay MailKUALA LUMPUR, May 6 — The Finance Ministry had asked civil servants’ pension fund KWAP to release the second batch of RM2 billion to SRC International Sdn Bhd before the fund received a government guarantee for the 2012 loan, the High Court heard today. Former KWAP official Amirul Imran Ahmat,...
Source: malaymail - 🏆 1. / 86 Read more »

Najib signed the gov't guarantee for KWAP loan to SRCNAJIB TRIAL | The former PM played a pivotal role in KWAP's loan to SRC, court hears. RajaMohdShahrim NajibRazak RM4 BILLION KWAP - Kesemua Wang Aku Punya! ....throw away the keys after locking him away Don't play play...
Source: malaysiakini - 🏆 20. / 51 Read more »

Najib’s SRC trial: KWAP breached its investment policy on initial RM2b loans | Malay MailKUALA LUMPUR, May 6 — The Retirement Fund Incorporated (KWAP) breached its Investment Policy and Guidelines (IPG) when it approved a loan of RM2 billion to 1Malaysia Development Berhad’s (1MDB) wholly-owned subsidiary, SRC International Sdn Bhd in 2011, the High Court was told today at Datuk...
Source: malaymail - 🏆 1. / 86 Read more »

Najib’s SRC trial: Witness insists KWAP investment guidelines breached despite waiver for RM2b loan | Malay MailKUALA LUMPUR, May 7 — The investment  guidelines for the Retirement Fund Incorporated (KWAP) were breached when it decided to give the first loan of RM2 billion to then 1MDB subsidiary SRC International Sdn Bhd in 2011, the High Court heard today in the trial of former prime minister Datuk...
Source: malaymail - 🏆 1. / 86 Read more »

SRC trial: Witnesses describe RM4b loan as among biggest by KWAP | Malay MailKUALA LUMPUR, May 9 — The Retirement Fund Incorporated’s (KWAP) two loans totalling RM4 billion to SRC International Sdn Bhd were among the largest approved by the civil service pension fund, said two witnesses responsible for the approval of the payment vouchers. The prosecution’s 34th...
Source: malaymail - 🏆 1. / 86 Read more »