KUALA LUMPUR: The High Court here was told that a RM1.8bil loan taken out by SRC International Sdn Bhd from Retirement Fund Inc (KWAP) was never used for investments in the energy and resource sectors, a purpose it was intended for.
Angela Barkhouse, an offshore asset recovery specialist, testified that on Nov 3, 2011 Bank Negara Malaysia (BNM) had set out conditions regarding the use of the RM1.8bil, whereby the monies should only be utilised to acquire four entities: PT ABM Investama and Bumi Resources Tbk PT in Indonesia; and Gobi Coal and Energy Ltd and Erdens-Tavan Tolgoi in Mongolia.
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