FID can oppose the proposal for extension on KWAP loan

14 May 2019 / 16:56 H.

KUALA LUMPUR: A witness in former prime minister Datuk Seri Najib Abdul Razak’s trial today told the High Court here that the Fixed Income Department (FID) of Retirement Fund Incorporated (KWAP) can oppose to the proposal for the extension of any loan of its fund.

KWAP’s Legal and Secretarial Department vice president Azlida Mazni Arshad, 47, who was the 35th prosecution witness, said this when cross-examined by lawyer Harvinderjit Singh on the 17th day of Najib’s trial.

Harvinderjit: (Do you know) If the FID could have voiced their opposition to any loan the fund proposed to extend? Azlida replied that the department could have done so.

Harvinderjit: Do you agree that Investment Panel is not bound by the instruction from the prime minister or finance minister? Azlida agreed.

Harvinderjit: Do you agree that investment panel is not bound by any person or body when it comes to instruction matter? She replied “Yes.”

Harvinderjit: They (KWAP) can instruct to reject the loan if the loan application was insufficient? She replied “Yes.”

Harvinderjit: (Did) Any member of the investment panel had, at any point, said they had no choice but to approve the loans to SRC, which would have been recorded in the minutes of the meeting.

Azlida: That (kind of) statement was not in the minutes.

Earlier, Harvinderjit referred the witness to a handwritten note by Najib, which stated that the former premier “agrees with SRC’s recommendation” and asked whether she agreed that this was not an instruction from Najib but a statement in agreement. Azlida said “agree.”

Earlier, she said that she had met Malaysian Anti Corruption Commission (MACC) officers thrice pertaining to the case and the first meeting was in August 2015.

Najib, 66, is charged with three counts of criminal breach of trust, one charge of abusing his position and three counts of money laundering involving SRC International Sdn Bhd funds amounting to RM42 million.

Hearing before High Court judge Mohd Nazlan Mohd Ghazali continues. - Bernama

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