MACC: SRC International’s claim of info leak will not stall probe

  • Nation
  • Thursday, 05 Nov 2015

KUALA LUMPUR: The national graftbusting agency has brushed off concerns by SRC International Sdn Bhd, which claimed that were leakages of documents while the Malaysian Anti-Corruption Commission (MACC) was investigating the company. 

MACC investigations director Datuk Azam Baki said claims of “leaked information” had nothing to do with their probe into the Finance Ministry’s subsidiary and warned against attempts to stall investigations into its alleged misuse of funds. 

“Most importantly, MACC’s investigations cannot be called off on the basis of waiting for another investigation into reports of leaked information. It’s up to SRC International if they want to lodge a police report to investigate the said leaks. 

“MACC has only been acting within the law and does not want any interferences that prolongs or jeopardises its investigation,” he said in a statement Thursday. 

He was responding to a statement by SRC International, which urged the Attorney-General’s Chambers to investigate those allegedly involved in the leakages, and calling for investigations to focus on “agenda-driven politicians and/or corrupt officers”. 

The company also claimed its business interests had been negatively affected due to the leakages and did not want to be “either a victim or a scapegoat in what appears to be a politically motivated campaign”. 

Azam in response said that its statement seemed like “some people don’t want MACC to continue investigating SRC International”. 

SRC International was a subsidiary of 1Malaysia Development Berhad (1MDB) until it was taken over by the Finance Ministry in February 2012 via a non-cash dividend transaction worth RM1mil. 

It obtained a RM4bil loan from the Retirement Fund Inc (KWAP) in 2011 but had apparently only invested some RM216mil in Mongolian energy company Gobi Coal & Energy Ltd (GCE). 

This raised questions, especially among 1MDB’s most vocal detractors, was where the remaining RM3.8bil had gone. 

Petaling Jaya Utara MP Tony Pua had reportedly said that the investment in GCE was overpriced for a mere 9% stake in GCE, pointing out that a London Stock Exchange listed company with 14% stake in the same company had valued its shares at just US13.4mil (RM57mil). 

The Finance Ministry’s reply in Parliament on where the rest of the RM3.8bil was invested in, drew criticisms from the Opposition in April for its “vague” answers. 

It said that the funds had been invested in Indonesia, Mongolia and “some other countries”.




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