News about KWAP

KUALA LUMPUR (Feb 3): Former prime minister Datuk Seri Najib Razak (pictured) claimed he was unaware whether the Parliament was informed about the RM4 billion loans from Retirement Fund Inc (KWAP) to SRC International Sdn Bhd and the government guarantees approved by cabinet to back them.

KUALA LUMPUR (Jan 22): Datuk Seri Najib Abdul Razak agreed that he had asked former Treasury secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah to expedite the first RM2 billion loan that Retirement Fund Inc (KWAP) granted to SRC International Sdn Bhd in 2011.

KUALA LUMPUR (Dec 18): The prosecution in Datuk Seri Najib Abdul Razak’s SRC International Sdn Bhd trial showed yesterday that the former premier had ordered the appointment of directors to the company even before the board of its parent 1Malaysia Development Bhd (1MDB) had approved the proposal via a directors’ circular resolution (DCR).

KUALA LUMPUR (Dec 11): Former prime minister Datuk Seri Najib Razak contended that it was the responsibility of the management in SRC International Sdn Bhd to retrieve the funds back from the company's frozen bank account in Switzerland, not him.

KUALA LUMPUR (Dec 11): Former prime minister Datuk Seri Najib Razak today claimed he did not know how funds in SRC International Sdn Bhd were spent after the RM2 billion loan was disbursed by the Retirement Fund Inc (KWAP).

KUALA LUMPUR (Dec 11): The decisions regarding the initial loan application to Retirement Fund Incorporated (KWAP) amounting to RM3.

KUALA LUMPUR (Sept 4): The Malaysian government is taking civil action to recover funds derived from Retirement Fund (Inc)'s RM4 billion loan to SRC International Sdn Bhd.

KUALA LUMPUR (Aug 27): Permodalan Nasional Bhd (PNB), Malaysia's largest fund manager by asset value, may be set for its fourth major leadership change in just over three years in the coming weeks.

KUALA LUMPUR (July 15): A former senior partner with law firm Hisham, Sobri & Kadir, who acted for the Retirement Fund Inc (KWAP), told the High Court that SRC International Sdn Bhd will have to pay back more than RM9.

KUALA LUMPUR (July 9): A witness from the Ministry of Finance testified that he was asked to sign a letter on behalf of the ministry, ordering the Retirement Fund (Incorporated) (KWAP) to release a RM2 billion loan to SRC International Sdn Bhd months before a government guarantee was issued, as the company needed the funds urgently.