Friday 21 Jun 2024
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KUALA LUMPUR (Aug 3): The Federal Government, as a guarantor, has paid in full the SRC International Sdn Bhd’s RM4 billion debt to Kumpulan Wang Persaraan (Diperbadankan) (KWAP). 

“It has been paid in full. As the matter is still in the courts, it would be subjudice for us to go into details at this juncture. Suffice to say there are no more payments pending,” a KWAP spokesperson told The Edge on Wednesday (Aug 3) in an email response. 

The Edge has enquired further on the exact amount of the repayment made and the date when the debt was cleared. 

A year ago, KWAP CEO Nik Amlizan Mohamed told The Edge that the payments, scheduled to end in 2022, were “on track" but declined to reveal how much the pension fund had received then.

Back in 2019, former finance minister Lim Guan Eng had said on Sept 4 of that year that the ministry had paid nearly RM1.69 billion of SRC International’s RM4.15 billion debt to KWAP. 

SRC International, formerly a subsidiary of 1Malaysia Development Bhd (1MDB), borrowed RM4 billion from KWAP in 2011 and 2012. 

Former assistant vice president of KWAP, Amirul Imran Ahmad has testified in court in 2019, during the former prime minister Datuk Seri Mohd Najib Abdul Razak’s RM42 million SRC International corruption trial, that the RM4 billion is the largest borrowing approved by KWAP. 

Najib was found guilty of all seven graft charges in relation to SRC by the High Court on July 28, 2020. They comprised one abuse of power charge in approving KWAP’s loan of RM4 billion to SRC between 2011 and 2012, and three counts each of criminal breach of trust (CBT) and money laundering involving RM42 million worth of SRC funds.

He was sentenced to 12 years’ jail and a fine of RM210 million for the abuse of power charge, and 10 years’ jail for each of the CBT and money laundering charges.

The Court of Appeal on Dec 8 last year unanimously upheld the High Court's verdict, which led to Najib making his final appeal to the Federal Court. The Court of Appeal has allowed a stay of sentencing pending this appeal, which is set to be heard this month.

Edited ByEsther Lee
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