Malaysiakini NEWS

Recap 1: What we've learned from Najib's SRC trial so far

KiniGuide  |  Published:  |  Modified:

KINIGUIDE | NAJIB TRIAL | The graft hearing against former prime minister Najib Abdul Razak has gone on for 16 days, and is progressively getting more technical.

In this instalment of KiniGuide, Malaysiakini will attempt to answer some common questions about how the prosecution is trying to piece its case together.

What is this trial about?

This trial involves seven charges. Najib is accused of obtaining RM42 million in gratification by abusing his position as prime minister and finance minister in securing a government guarantee for RM4 billion in loans from KWAP to SRC International Sdn Bhd.

He also faces three criminal breach of trust and three money laundering charges.

What is SRC International?

SRC International was set up in January 2011 as a subsidiary of 1MDB, a company wholly-owned by the Minister of Finance Inc.

According to the Auditor-General's Report on 1MDB, 'SRC' stands for 'strategic resource company'. The stated purpose of the company was to invest in the metal and energy industries, which are of national interest.

The ownership of SRC International was transferred from 1MDB to MOF Inc on Feb 15, 2012. There are no details on the company's business activities in recent years.

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