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.
US$120mil went into Najib s account thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
FISCAL pressures and demographic trends (increasing life expectancy and ageing society) in Malaysia have increased the urgency of reforming our pension system for enhancing fiscal and economic sustainability.
Malaysia is struggling to cope with a growing pension bill, prompting a proposal for a new scheme for civil servants. We examine the key numbers and possible reforms.