Witness: Finance Ministry’s advice not a directive

Witness: Finance Ministry’s advice not a directive

KUALA LUMPUR: Former Pensions Fund Inc (KWAP) CEO Azian Mohd Noh testified that the then Finance Ministry’s advice for SRC International to get additional financing from KWAP in early 2012 was not a directive from the ministry for KWAP to give the loan.

She said this during the cross-examination by Najib Abdul Razak’s lawyer Harvinderjit Singh during cross-examination.

Harvinderjit: Do you agree that SRC International is basically saying (in a letter to KWAP in early 2012) that its shareholder, the Ministry of Finance, agreeing for SRC to apply for loan from KWAP?

Azian: Correct.

Harvinderjit: It is not a direction from the ministry for KWAP to grant the loan (to SRC International)?

Azian: Correct.

SRC International obtained RM2 billion loan from KWAP in late 2011, and another RM2 billion loan from KWAP in early 2012.

Najib is facing seven charges related to SRC International’s RM42 million, a former 1MDB subsidiary. Of the seven, one is related to power abuse, three criminal breach of trust and three money laundering charges.


Tags assigned to this article:
Azian Mohd NohKWAPSRC International