NAJIB Razak’s SRC International trial enters its 13th day today, with the 29th witness, Retirement Fund Inc (KWAP) senior officer Amirul Imran Ahmat returning to the stand.
The former assistant vice-president of KWAP’s fixed income department testified last Thursday that the former prime minister signed a letter, dated June 3, 2011, approving an RM3.95 billion loan request from SRC International to the government pension fund.
Amirul testified that the letter had Najib’s handwritten words and signature, which he recognised. The letter included the handwritten words “Agree with this proposal” (Bersetuju dengan cadangan ini), Amirul told the court.
Later, on July 19, 2011, KWAP’s investment panel approved the RM2 billion loan to SRC International, made on a government guarantee.
On August 12, 2011, a request was made by SRC International that the money be wired into its company account, as it already had government backing via 1Malaysia Development Bhd.
On August 22, 2011, KWAP also received a letter from the Finance Ministry on the government guarantee for the RM2 billion for 10 years, Amirul testified. The loan was approved on August 26, 2011.
Witness Wedani Senen, 45, remittance department manager at the AmBank head office in Kuala Lumpur, told the court last Tuesday that the money was transferred into two SRC International current accounts.
She confirmed RM2 billion was credited into current account number 211-202-200973-6 via four transfers of RM500 million each on August 29, 2011, about seven months after the account was opened on January 28, 2011.
A single transfer of RM2 billion was credited into current account number 211-202-20165-0 on March 28, 2012, about four months after the account was opened on November 10, 2011, she said.
From the RM4 billion funnelled into SRC International, RM42 million allegedly made its way into Najib’s bank accounts.
The previous government said SRC International was formed to identify and invest in natural resources and mineral ventures, including acquisition of stocks or company securities.
Najib faces three counts of criminal breach of trust, three counts of money-laundering and one count of abuse of power over those funds.
He is represented by a dozen lawyers led by Muhammad Shafee Abdullah.
Attorney-General Tommy Thomas leads the prosecution while justice Mohd Nazlan Mohd Ghazali is presiding.
The Malaysian Insight brings you today’s proceedings live:
Witness says SRC sought additional RM2b
9.48am: Subsequently, Nik Faisal sent three emails to Amirul about the various investments and IPOs that SRC International were looking to invest with the money.
9.38am: Amirul said on March 20, 2012, KWAP chief Azian Noh told him that she had met with Najib, Wan Abdul Aziz and Irwan Serigar Abdullah where they discussed the loan to be disbursed through a progress payment.
He said he received an email on the matter from Nik Faisal and that SRC will have to sign the memorandum for the loan.
Nik Faisal also confirmed the meeting between the parties and that he had received approval from Najib as the finance minister for the second RM2 billion loan be given the same terms as the first RM2 billion loan.
9.31am: After receiving an email from Terence, an 1MDB officer, for some relevant information on SRC International, Amirul was then asked by his superior, the late Ahmad Norhisham to prepare a paper to be presented to the investment panel of KWAP for the additional RM2 billion.
This loan was given a government guarantee. The same as the first.
The panel then approved the loan on March 20, 2012, court told.
9.26am: Amirul, who served in KWAP as a special officer, explains to the court in a written statement that on March 13, 2012, he received a letter from SRC International from one Terence Geh.
The letter stated that it required proposed additional financing for RM2 billion from KWAP. The letter was signed by SRC International CEO Nik Faisal Arif Kamil.
9.17am: Amirul Imran Ahmat is back in the stand and prosecutor Ishak Mohd Yusoff continues questioning.
8.53am: Najib dressed in a navy suit arrives. – THE MALAYSIAN INSIGHT
THE MALAYSIAN INSIGHT / MKINI
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