The High Court heard testimony from Finance Ministry strategic investments division deputy secretary Afidah Azwa Abdul Aziz who said the government, as the guarantor of the loan, had to be responsible in paying back the principal loan and its interest to KWAP.
The witness was reading from her witness statement at the corruption trial of former prime minister Datuk Seri Najib Razak, who faces seven charges relating to misappropriation of RM42mil in SRC funds. “For projects apart from SRC International, usually the Finance Ministry would be prepared earlier because the ministry would have to finance infrastructure projects that could not generate enough profit to pay its debts, especially during the construction period.
“The government was not prepared from the aspect of allocation to pay back the loan to KWAP because SRC was late in informing the government of its failure to finance the debt,” she said.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaymail - 🏆 1. / 86 Read more »