On day 13 of Najib Razak’s SRC International trial on 6 May, Patrick Teoh of the Malaysian Insight reports that the court heard how the Retirement Fund Incorporated (KWAP), breached its own guidelines in approving a RM4bn loan to SRC International, which only had RM1m in assets.
The loan, which was supposed to be used as working capital, was used for a myriad of purposes, including media monitoring and credit cards, to home renovations and even political espionage.
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