Putrajaya firm SRC records RM115 million loss of value, says PKR

PKR secretary-general Rafizi Ramli says there is a dearth of information on SRC International's RM3.1 billion investments. – The Malaysian Insider file pic, April 1, 2015.

Putrajaya-owned SRC International has recorded an investment impairment of RM115 million, PKR said today, drawing concerns on its ability to pay back the RM4 billion loan from Retirement Fund Incorporated (KWAP).

PKR's Rafizi Ramli said that ‎the declining value of SRC's assets also brought into question the authenticity of its investments, noting that the impairment could even be higher as there was no information on some RM3.1 billion of its investments.

"This is real and big. I wouldn't be surprised if SRC continues to record investment impairments in the years to come when the unknown investments fail to generate income for SRC," he said at a press conference at the Parliament lobby today.

- TMI