Witness: Najib asked for KWAP loan to be increased to RM2bil from the approved RM1bil

  • Nation
  • Wednesday, 10 Jul 2019

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak had asked for SRC International Sdn Bhd’s loan from Retirement Fund Inc (KWAP) to be increased to RM2bil from the approved amount of RM1bil, the High Court here heard.

Former Treasury secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah said when testifying at Najib’s corruption trial involving the misappropriation of RM42mil in SRC International funds here Wednesday (July 10), that Najib made the request to him in a one-on-one meeting with him at the Prime Minister’s Office.

The witness, however, could not remember the exact date of the meeting and did not make any notes on Najib’s instructions.

SRC International had originally applied for a RM3.95bil loan but only RM1bil was approved by KWAP.

Dr Wan Abdul Aziz said the loan would have remained at RM1bil if the communication did not happen.

“Najib said a RM2bil loan was sufficient, and not RM1bil.

“I would like to state here that if there was no communication between Najib and I on the loan from KWAP to SRC International, the investment panel would have stuck with approving the RM1bil loan as per the consideration and approval of the panel,” he said.

Dr Wan Abdul Aziz said the former prime minister also requested him to hasten the approval for the loan application.

“After the meeting, I informed KWAP CEO Datuk Azian Mohd Noh of Najib’s instructions to rush the approval process with the RM2bil amount."

Dr Wan Abdul Aziz said the investment panel was informed of the meeting between him and Najib and the details were noted in the panel’s meeting minutes.

Najib is facing seven charges involving RM42mil in funds belonging to SRC International.

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

He allegedly misappropriated RM42mil in funds belonging to SRC International.

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

The hearing before Justice Mohd Nazlan Mohd Ghazali continues on Thursday (July 11).

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