To refresh memories, SRCI is a unit of 1Malaysia Development Bhd (1MDB). In 2011 and 2012, SRCI borrowed RM4bil from the Retirement Fund Inc (KWAP) – RM2bil in each tranche. Security was a government guarantee.
Last month, I read a report on the SRC International (SRCI) trial and was struck by an exchange between the accused and the prosecutor. Of course, I can’t comment on the accusations, but this particular exchange involved something I can discuss – good governance.
The accused argued he was not involved in operational matters in SRCI, only in policy and big decision-making. He would become involved in operating matters, however, if he was informed of “something undesirable against the principle of good governance”.
To refresh memories, SRCI is a unit of 1Malaysia Development Bhd (1MDB). In 2011 and 2012, SRCI borrowed RM4bil from the Retirement Fund Inc (KWAP) – RM2bil in each tranche. Security was a government guarantee.
Limited time offer:
Just RM5 per month.
