Home Minister Muhyiddin Yassin has declined to comment on a revelation that a cabinet meeting chaired by him back when he was the deputy prime minister had approved without discussion controversial Finance Ministry memoranda on SRC International.

“I don't want to respond here. I am not going to respond here,” he said when asked after his ministry’s Hari Raya Aidilfitri open house in Serdang today.

Pressed on whether the cabinet at the time was partially responsible for the SRC International affair, Muhyiddin again declined to answer.

“I don't want to respond here because this is a case in court. This is outside of court.

“Let's wait for whatever is the outcome (of the trial),” he said.

During the SRC International trial this week, former cabinet deputy chief secretary Mazidah Abdul Majid testified that the cabinet had in 2011 and 2012 authorised former finance minister and prime minister Najib Abdul Razak to determine the terms and conditions of SRC International's two loans, totalling RM4 billion.

Based on her meeting minutes, Mazidah said that Muhyiddin had chaired a cabinet meeting on May 16, 2012, in Najib’s absence - which saw a memorandum on SRC adopted without any deliberation.

The memorandum was entitled "Amendment to the purpose of the loan by SRC International Sdn Bhd and 1MDB Real Estate Sdn Bhd".

The requests were for the cabinet to:

  • Amend a clause on the decision made by Feb 8, 2012 to "finance investment activities in the natural resources industry and working capital";
  • Amend the purpose of the loan by 1MDB Real Estate Sdn Bhd, which had decided on Nov 11, 2011. The new purpose for the loan states that the company will finance the cost of relocating the Sungai Besi airbase; and
  • Grant the finance minister the authority to determine the terms and conditions of the loan.

Mazidah further testified that Najib himself had chaired cabinet meetings on Aug 17, 2011 and Feb 8, 2012 where he had put forth two memoranda on SRC International.

Once again, cabinet had adopted the contents of both without any recorded deliberation.

This was despite Najib not declaring his interest in SRC International during the meetings.

As finance minister, he oversaw Minister of Finance Incorporated (MoF Inc).

MoF Inc was the sole shareholder of 1MDB, which was SRC International's parent company at the time.

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