Witness: KWAP not compelled to approve loan despite Najib's handwritten note

KUALA LUMPUR: The Retirement Fund Incorporated (KWAP) was not pressured into approving a RM3.95bil loan to SRC International Sdn Bhd despite a handwritten note by Datuk Seri Najib Razak who agreed that the loan should be given, the High Court heard.

Former KWAP CEO Datuk Azian Mohd Noh, who was cross-examined by Najib's lawyer Harvinderjit Singh here Wednesday (May 29), agreed with suggestion that there was no compulsion to approve the loan.

On Tuesday, the 66-year-old witness told the court that she received a letter by hand from SRC International on June 3, 2011.

In the letter, which was addressed to Najib, the 1Malaysia Development Berhad (1MDB) subsidiary asked for a RM3.95bil loan.

The letter also carried a side note handwritten by Najib, which was meant for her as KWAP CEO that read "bersetuju dengan cadangan ini (agree with this suggestion)".

The witness had then said that to her understanding, the note meant the then-prime minister agreed for KWAP to give out a loan to SRC International.

Harvinderjit: You have this letter for the prime minister… the investment panel never felt any compulsion to approve the loan?

Azian: If you used the word 'compel', then no (they were not compelled).

Harvinderjit: May I suggest that they did not feel any compulsion in approving the loan, because if they were influenced to rush through the loan, they could have approved it at this stage.

Azian: Influence and compelled are two different words. If you use the word compulsion, then yes, KWAP was not compelled," Azian said.

The hearing continues before Justice Mohd Nazlan Mohd Ghazali on June 10.


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