Minister of Finance II Datuk Johari Abdul Ghani luncheon keynote address at the 21st Malaysian Capital Market Summit in Seri Pacific Hotel,Kuala Lumpur. SAMUEL ONG / THE STAR, 1ST NOVEMBER 2016.
KUALA LUMPUR: SRC International Sdn Bhd is in the process of recovering the money it had deposited at the BSI Bank Ltd, Second Finance Minister Datuk Johari Abdul Ghani said.
“We are working out through various means to establish the money that has been deposited in BSI Bank,” he told reporters on the sidelines of the Asian Strategic Leadership Institute’s 21st Malaysian Capital Market Summit in Kuala Lumpur on Tuesday.
Johari said he was informed by SRC International’s management that its money was deposited at the BSI Bank but was having difficulty in recovering it.
The minister said the matter was still being investigated and he could not divulge the details.
On May 24, the Monetary Authority of Singapore said it had ordered the closure of Switzerland’s BSI Bank in the republic over serious breaches of anti-money laundering requirements, poor management oversight of the bank’s operations, and gross misconduct by some bank staff.
Asked on the closure of BSI Bank, Johari said, “BSI Bank is not closed down, it was sold to another entity.
“BSI is still there, so whatever the fund that they (SRC International) have invested, I think we are looking at it.”
SRC International, set up in early 2011 to pursue strategic overseas investments in energy resources, was formerly a subsidiary of 1Malaysia Development Bhd (1MDB) but was taken over by the Finance Ministry following its (1MDB) restructuring programme. - Bernama
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