Prosecution grills Najib on SRC's RM2b loan, done even before board was formed

SRC TRIAL | The Kuala Lumpur High Court today heard that SRC International had applied for its first loan in 2011 before members of its first board of directors (BoD) were appointed.

This was pointed out by attorney-general Tommy Thomas when he was cross-examining former prime minister Najib Abdul Razak, who was testifying in his defence in the SRC International criminal trial.

According to letters laid out in the court by Thomas, SRC International had sent two loan applications to the Retirement Fund Incorporated (KWAP) in June and July 2011, seeking RM3.95 billion and RM2 billion respectively.

For the record, it had been established earlier during the trial that SRC applied for the RM2 billion in July 2011, after KWAP turned down its initial request for RM3.95 billion.

As Najib confirmed that the loan applications were each dated in June and July 2011, Thomas then pointed out to Najib's letter dated Aug 1, 2011 where he appointed seven people to SRC's BoD...