‘1MDB failed to secure RM3bil to set up SRC’

Serious discussion: Najib speaking with Muhammad Shafee (standing) at the Kuala Lumpur Courts Complex. — Bernama

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) had failed to secure a RM3bil grant from the Economic Planning Unit (EPU) in 2010 to set up its subsidiary SRC Inter­national Sdn Bhd, a witness testified.

The High Court heard that the state fund was instead given RM20mil as a launching grant to establish SRC International.