PM: 1MDB can't reveal details of SRC's RM4b loan now
PARLIAMENT Prime Minister Najib Abdul Razak said 1MDB was unable to reveal the details of the RM4 billion Retirement Fund Inc's (KWAP) loan given to SRC International Sdn Bhd because it has yet to audit part of the relevant information.
"1MDB has a standard practice where it will only share the detailed information after conducting an audit to ensure the genuineness and the accuracy of the information," he said in a parliamentary written reply.
He was responding to Mohd Ariff Sabri (DAP-Raub) who asked where was the balance of the RM4 billion loan and if the money has been returned to KWAP.
This was the second time Mohd Ariff queried Najib on KWAP's loan used by SRC, 1MDB's former subsidiary, in its joint investment in Mongolia on a coal mine project.
"Your reply then was (only) RM10 million out of RM4 billion (KWAP loan) was used on the Mongolia coal mine (project).
"(I now asked) where is the balance of the RM4 billion and how much has been returned to KWAP," said Sabri.
SRC International came into the spotlight after it took the RM4 billion loan and invested part of the money in the controversial Gobi Coal & Energy Ltd, a joint-venture project in Mongolia.
Opposition MPs, particularly Tony Pua (DAP-Petaling Jaya Utara) and Rafizi Ramli (PKR-Pandan), have been harping the issue since 2014.
Both Pua and Rafizi had revealed that the maximum amount SCR International invested was only RM49.6 million out of the RM4 billion.
For more news and views that matter, subscribe and support independent media for only RM0.36 sen a day:Subscribe now