SRC trial: Najib's alleged instruction to KWAP to approve loan not in minutes

  • Nation
  • Tuesday, 14 May 2019

KUALA LUMPUR: Datuk Seri Najib Razak's alleged instructions to the Retirement Fund Incorporated (KWAP) to approve loans to SRC International Sdn Bhd in 2011 were not recorded in the fund's investment panel meeting minutes, the High Court heard.

Azlida Mazni Arshad, who is KWAP's Legal and Secretarial Department vice-president, admitted this on Tuesday (May 14) when questioned by defence counsel, Harvinderjit Singh during the former prime minister's corruption trial involving RM42mil in SRC International funds.

She had last week said in court that Najib urged the retirement fund to rush the approval for a RM2bil loan to SRC International Sdn Bhd in 2011.

On Tuesday, the 17th day of the trial, Azlida also admitted that KWAP's fixed income department (FID) could have rejected SRC International's loan application.

She agreed with Harvinderjit's suggestions that they could reject the applications of those applying for loans. She also agreed that the department would analyse the ability of the loan applicant to generate income and pay back their loan.

KWAP approved the RM2bil loan to SRC International in 2011 before approving another loan of the same amount in 2012.

The court had heard in previous testimony that SRC International wanted a loan to get into the business of natural resources such as oil and gas, iron and steel and coal and uranium.

Najib faces seven charges involving RM42mil belonging to SRC International Sdn Bhd.

On July 4 last year, Najib claimed trial to a charge of abuse of power and three counts of criminal breach of trust (CBT) linked to the 1MDB scandal.

He allegedly misappropriated RM42mil in funds belonging to SRC International.

On Aug 8, 2018, he appeared in court again for the second time and was charged with three counts of money laundering involving the same RM42mil.

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