MoF Inc had no one overseeing SRC, says witness

KUALA LUMPUR: SRC International Sdn Bhd did not have a representative of the Minister of Finance Incorporated although SRC International was a wholly-owned government company, the High Court was told today in the trial of Najib Razak on corruption and criminal breach of trust charges.

The 53rd witnesss, who was responsible for the investment portfolio in the Treasury for three years until her retirement in July 2015, said there were about 120 government-linked companies in MoF Inc’s stable. Cross examined by Najib’s counsel Harvinderjit Singh, Fauziah said she was unaware that that Najib had appointed Mat Noor Nawi, a former deputy secretary-general at the Treasury, as SRC adviser.

He said he was not sure of his exact role in SRC but believed it was to “merely advise” the company’s then chief executive Nik Faisal Ariff Kamil.

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SRC International known to MoF as company with bad supervision, High Court told | Malay MailKUALA LUMPUR, July 18 — SRC International Sdn Bhd was a company with poor supervision and inefficient in reporting its financial performance to related regulators within the Ministry of Finance (MoF), the High Court here heard today.  The former deputy secretary-general of the Investment...
Source: malaymail - 🏆 1. / 86 Read more »

SRC International known to MoF as company with bad supervision, High Court told | Malay MailKUALA LUMPUR, July 18 — SRC International Sdn Bhd was a company with poor supervision and inefficient in reporting its financial performance to related regulators within the Ministry of Finance (MoF), the High Court here heard today.  The former deputy secretary-general of the Investment...
Source: malaymail - 🏆 1. / 86 Read more »