KUALA LUMPUR: Some US$60mil flew out of SRC International for the purpose of a joint venture (JV) between its subsidiary SRC BVI and the government of Abu Dhabi relating to a coal mine that ended up not producing coal or generating revenue from mining operations, the High Court heard.
Kuala Lumpur: An asset recovery specialist told the High Court here that there was no evidence to show former prime minister Najib Razak “returned” a purported US$120 million from SRC International to Singapore-registered firm Tanore Finance Corporation.
In SRC International civil suit, offshore asset recovery specialist says yet to see evidence Najib returned US$120m of SRC funds in bank account malaymail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from malaymail.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: The High Court here was told that a RM1.8bil loan taken out by SRC International Sdn Bhd from Retirement Fund Inc (KWAP) was never used for investments in the energy and resource sectors, a purpose it was intended for.
KUALA LUMPUR: Some US$120mil of the loan from Retirement Fund Inc (KWAP) to SRC International Sdn Bhd landed in Datuk Seri Najib Razak's bank account between 2011 and 2012, the High Court here was told.