KWAP’s RM1.8bil sent abroad without due diligence, court told

KUALA LUMPUR: SRC International Sdn Bhd had failed to perform due diligence on the first Retirement Fund Incorporated (KWAP) loan of RM1.8bil before transferring it offshore for purported investment activities, the High Court was told.

SRC International’s former director Datuk Shahrol Azral Ibrahim Halmi (pic) said no due diligence was carried out as the directors’ circular resolution was signed and approved by Datuk Seri Najib Razak, who was the prime minister and finance minister at the material time.