Finance Ministry asked Cabinet to alter purpose for SRC’s loan: Witness

19 Jun 2019 / 19:10 H.

KUALA LUMPUR: A witness told the High Court in the trial of Datuk Seri Najib Abdul Razak here today that SRC International Sdn Bhd initially stated its purpose as “investment activities and revolving fund” in its application for a loan of RM2 billion from Retirement Fund Incorporated (KWAP).

The purpose differed from that in the government guarantee that was to be approved by the Cabinet, which was, “investment in natural resources”.

Finance Ministry strategic investment deputy secretary Afidah Azwa Abdul Aziz, 44, said the finance ministry in a cabinet meeting memorandum asked to alter the original purpose stated in SRC’s loan application to “investment in natural resources” to conform to the requirement in the government guarantee.

She said this in the examination in-chief by deputy public prosecutor Datuk Suhaimi Ibrahim, as the 41st prosecution witness.

Suhaimi: The guarantee was to be approved so that SRC could get a loan for what?

Afidah Azwa: For investment in natural resources.

Suhaimi: Read what’s stated in the memo.

Afidah Azwa: SRC decided that it wanted to get funding from Retirement Fund Incorporated (KWAP). The KWAP panel had approved RM2 billion with terms and conditions for the loan ... the purpose was for SRC’s investment activities and revolving fund.

Suhaimi: Is it the same as the decision of the cabinet as read in your witness statement just now?

Afidah Azwa: No.

Suhaimi: The memo was raised to the finance minister at the time for approval?

Afidah Azwa: Yes.

Najib, 66, is facing three counts of criminal breach of trust, one charge of power abuse and three counts of money laundering involving SRC International Sdn Bhd funds totalling RM42 million.

The trial is presided by justice Mohd Nazlan Mohd Ghazali. — Bernama

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