Najib ordered KWAP to double loan amount to RM2b, says witness

Former Treasury Secretary-General Tan Sri Wan Abdul Aziz Wan Abdullah, the 45th prosecution witness, at the Kuala Lumpur High Court here today. Photo by Mohd Izwan Mohd Nazam/The Edge

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KUALA LUMPUR (July 10): Former Prime Minister Datuk Seri Najib Razak told former Treasury Secretary-General Tan Sri Wan Abdul Aziz Wan Abdullah to double the amount Retirement Fund Inc (KWAP) is loaning to SRC International Sdn Bhd to RM2 billion, said the latter in court today.

The 45th witness in the SRC trial said he had been summoned to the Prime Minister's office for a private meeting, in which he was told that RM2 billion be a sufficient figure for SRC, and not the initially approved RM1 billion.

SRC had initially requested a RM3.95 billion loan from KWAP in 2011. KWAP decided to only approve RM1 billion, citing the original requested amount as an 'overconcentration' of money to just one company in one industry.

Overriding this, SRC subsequently made a new application requesting a RM2 billion loan in the same year.

SRC subsequently made an application for another RM2 billion loan in 2012.

Najib faces multiple counts of criminal breach of trust, money laundering and abuse of power, involving a total of RM42 million SRC funds.

He is alleged to have received RM27 million and RM5 million on Dec 26, 2014, and another RM10 million on Feb 10, 2015.

Wan Abdul Aziz is continuing his testimony today.

Related story: Najib called ex-KWAP chair to have second RM2b loan to SRC disbursed early