Witness: Najib as "ultimate boss" had influence over KWAP granting loan


KUALA LUMPUR (June 10): The High Court here today heard that former prime minister Datuk Seri Najib Tun Razak had influence over the Retirement Fund Incorporated (KWAP)'s decision to grant a loan to SRC International Sdn Bhd.

Former CEO of KWAP Datuk Azian Mohd Noh, 66, said Najib, who was also the finance minister at the time, was her ultimate boss and thus had influence over KWAP's decision to grant a loan to SRC International Sdn Bhd.

Azian as the 38th prosecution witness in Najib's trial which enters its 21st day said this when re-examined by deputy public prosecutor Datuk Ishak Mohd Yusoff.

She said although there was no legal compulsion on the accused's part, he still wielded a certain degree of influence, given that he was the finance minister and the fact that Ministry of Finance Incorporated owned SRC International Sdn Bhd.

Ishak: Explain what Datuk meant earlier by 'compulsion' and 'influence'. 

Azian: The words compulsion and influence give different connotations. There was no legal compulsion but I cannot say the same for the word influence. The annotation in the (SRC International loan application) letter came from the prime minister and finance minister in charge of KWAP.

"He is my ultimate boss so I cannot deny there was a certain amount of influence," she said.

Ishak: Why was it that after KWAP considered to give RM1 billion, you had to see the prime minister and convey that KWAP could only give RM1 billion?

Azian: That was requested by the investment panel… one of the investment panel members but I don't know which one.

Najib, 66, is charged with three counts of criminal breach of trust, one count 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.

  1. YR1M CEO: Najib's private secretary told me to get Ihsan Perdana to move RM42m into Najib's accounts
  2. SRC borrowed RM4b from KWAP — and must repay more than RM9.2b
  3. Funds from Jho Low-linked firms to Najib were for 'loan purposes', says witness