IRWAN FALLS ALONG WITH NAJIB: EX-PM’S ‘FAITHFUL’ 1MDB LIEUTENANT DROPPED FROM BANK NEGARA BOARD, WHILE SRC SHAKES OVER RM4BIL KWAP LOAN, MONGOLIAN INVESTMENT

Mohammad Irwan Serigar Abdullah has been dropped from Bank Negara Malaysia’s board of directors with effect from May 14.

According to Bank Negara, his removal stemmed from the fact that he was no longer Treasury secretary-general.

On May 14, Irwan was transferred to the Public Service Department and put in cold storage pending the expiry of his contract on June 13 this year.

Under the previous BN administration, he sat on the boards of many GLCs, including 1MDB and Petronas.

He is also the chairperson of Retirement Fund Incorporated (KWAP), Cyberview Sdn Bhd and MRT Corp.

Irwan also chairs the Inland Revenue Board (LHDN). At the time of writing, however, the chairperson’s name on the LHDN website has been left empty. – M’kini

SRC payments to KWAP still on track as of last year

As of last year, SRC International Sdn Bhd is still making its regular payments for its RM4 billion loan from the Retirement Fund Inc (KWAP), said the fund’s chief executive officer (CEO) Wan Kamaruzaman Wan Ahmad (above) today.

“As of last year, (SRC International’s payments) are still on track.

“This year, it depends on the payment schedule (because) it is every six months,” Wan Kamaruzaman told reporters after he briefed the Council of Eminent Persons about the financial state of KWAP at Menara Ilham in Kuala Lumpur today.

He declined to say when the next payment is scheduled.

SRC International first came under the spotlight after it took out two RM2 billion loans from KWAP in 2011 and 2012, with a 10-year repayment period.

Wan Kamaruzaman said he briefed the council about KWAP’s governance as well as its pension issues today.

“I think I can’t comment on anything beyond that.

“But the main thing they asked about is the pension issues and how to make it more sustainable,” he said.

He also gave the council an update on KWAP’s investments, including their loan to SRC International.

“The known fact is our issue on SRC International, which is a known thing.

“Going forward, I think it’s to see whether SRC International will be able to rehabilitate itself,” he said, reminding that the loan has a government guarantee.

SRC International has previously claimed to have invested part of the loan in the controversial Gobi Coal & Energy Ltd, a joint-venture project in Mongolia.

Pakatan Harapan had wanted SRC International to be investigated on the whereabouts of RM3.81 billion out of the RM4 billion loan which it said it invested overseas.

SRC International is also linked to a newly reopened corruption probe against former prime minister Najib Abdul Razak (above) by the MACC which first opened its probe in 2015.

The probe was spiked by attorney-general Mohamed Apandi Ali who said Najib had not committed any wrongdoing.

The MACC investigation centres around the transfer of RM42 million from SRC International to Najib. – MKINI

MKINI