Firm set up a month before RM27m transfer to PM’s account

The company which channelled RM27 million to Prime Minister Najib Abdul Razak’s AmBank account was incorporated just one month before making the hefty transaction.

The flow chart describing the money trail from SRC International to the account indicated that Permai Binaraya Sdn Bhd made the transfer to the account AmPrivate 1MY (880) on July 8, 2014.

The chart was shown to media at a press conference where attorney-general Mohamed Apandi Ali cleared Najib of wrongdoing on Tuesday.

This is barely a month after Permai Binaraya was incorporated, based on Malaysiakini’s checks with the Companies Commission of Malaysia (CCM).

According to CCM records, Permai Binaraya was incorporated on June 6, 2014, and has a paid up capital of RM400,000.

Permai Binaraya’s directors include Mohd Shukri Dahlan, who retired as Selangor police chief in 2014, CCM records show.

Also a director is Rosman Abdullah, the managing director of public-listed property development firm Putrajaya Perdana Bhd, which is the parent company of Permai Binaraya.

Putrajaya Perdana was earlier acquired by Utama Banking Group (UBG) Bhd – a firm in which business tycoon Jho Low took over in 2010 allegedly with 1MBD cash, but this was denied by 1MDB.

The construction outfit plays an important role in the Najib-SRC International case because three of its subsidiaries were allegedly involved in funnelling money to the AmBank accounts.

The other two are Putra Perdana Development Sdn Bhd and Putra Perdana Construction Sdn Bhd.

Malaysiakini has contacted Putrajaya Perdana and is awaiting its response.

Complicated network of transactions

Among questions Malaysiakini posed to the Putrajaya Perdana is why SRC International had transferred a total RM170 million to Putra Perdana Construction in July and August 2014, only for it to return the bulk of it - RM140 million - to SRC International on Dec 12, 2014.

The RM140 million was returned to SRC International after it went through a complicated network of transactions involving the two other subsidiaries.

And where did the remaining RM30 million go? The flow chart shows that this was the amount banked into AmPrivate 1MY (880).

However, the bank account only received RM27 million, while Permai Binaraya kept RM2.99 million.

Putra Perdana Construction, which received the initial RM170 million in three transactions from SRC International, also transferred an additional RM5 million to another AmBank account – AmPrivate MY (906).

Unlike new kid on the block, Permai Binaraya, the two other subsidiaries were incorporated decades ago and had at one point gone under different names.

Putra Perdana Construction has paid-up capital of RM100 million while Putra Perdana Development has paid-up capital of RM10 million.

Putrajaya Perdana MD Rosman Abdullah is a director of both companies.

Also on the board for Putra Perdana Development is Ahmad Ridzal Ahmad, who is listed as director of project management of 1MDB’s real estate arm and Monica Oh Chin Chin, who was executive director of finance for UBG.

On Putra Perdana Construction’s board is Goh Ceah Chung, who was Abu Dhabi senior general manager of Putrajaya Perdana Bhd, and is now the CEO of the public-listed firm.

Others on the board are Economic Planning Unit advisor and former Defence Ministry secretary-general Abdul Latffi Hashim and Putra Perdana Development CEO Akmel Zurin Haron.