On top of giving a RM4 billion loan to 1Malaysia Development Berhad's (1MDB) former subsidiary SRC International Sdn Bhd, Retirement Fund Incorporated (KWAP) had a total of RM1.4 billion investment and holding in 1MDB and its subsidiaries.

In a written reply yesterday, the Finance Ministry revealed that as of March 31, 2015, KWAP had investments and holdings in four companies, namely Bandar Malaysia Sdn Bhd, 1MDB Energy Limited, 1MDB Global Investment Limited and Jimah Energy Ventures Bhd (JEV).

KWAP was much criticised for giving a RM4 billion loan to SRC International, which is now under the Finance Ministry.

Part of the loan was invested in Gobi Coal & Energy Ltd, a joint venture project in Mongolia.

"Meanwhile, Employees Provident Fund (EPF) has subscribed a total of RM200 million in bonds raised by 1MDB in 2009, which is guaranteed by the government.

"On top of that, EPF has also invested a total of RM1.52 billion in Panglima Power Sdn Bhd (PPSB) and JEV, a subsidiary of 1MDB.

"The involvement of EPF in both PPSB and JEV can be traced back to 2003 and 2005 respectively, prior to 1MDB's takeover in 2012 and 2014," said the ministry.

Deals signed and dleivered?

The ministry's written reply shows that both KWAP and EPF have invested a total RM3.12 billion in 1MDB and its subsidiaries.

This includes RM1.4 billion from KWAP and RM1.72 billion from EPF.

Rafizi Ramli (PKR-Pandan) has asked the finance minister to list out the investments and holdings of KWAP and EPF in 1MDB, it's subsidiaries and former subsidiaries including SRC International Sdn Bhd.

He wanted the figures to take into account equities, bonds and loans.  

1MDB, Prime Minister Najib Abdul Razak's brainchild, has become the centre of a political storm with the government being criticised for trying to bailout the debt-ridden company through it's agencies, funds and linked companies.

The cabinet has  already approved a RM950 million standby credit for 1MDB.

Beside this, the Lembaga Tabung Haji had purchased 1.56 acres at 1MDB's Tun Razak Exchange (TRX) project for RM188.5 million, or RM2,773 psf.

1MDB had initially purchased 70 acres of TRX land at just RM64 psf.

On May 11, The Star reported that KWAP was planning to buy land in TRX at RM2,300 per square foot to build its new headquarters.

KWAP had confirmed that it is eyeing the land in the zone but stressed any decision would be based on commercial considerations.

KWAP has signed a non-binding head of terms agreement with 1MDB Real Estate (RE) last year, according to Azmar Talib, chief executive officer of 1MDB RE.

Opposition MP Rafizi Ramli ( photo ) had previously contested claims by Retirement Fund Incorporated (KWAP) that it has yet to finalise its controversial Tun Razak Exchange (TRX) land deal with 1MDB Real Estate (1MDB RE) and had already signed the deals.