Najib-SRC Trial: Suboh Never Knew KWAP Loan Was Transferred Out From SRC’s Main Account

By Aarthi Shankar

SRC International Sdn Bhd director Datuk Suboh Yassin never knew that the second RM2 billion loan from the Retirement Fund Incorporated (KWAP) was transferred out from the company’s main account within two days.

Testifying at Datuk Seri Najib Razak’s trial at Kuala Lumpur High Court, Suboh said that he also had no knowledge on whether any other directors in SRC International signing the letter of transfer instruction for the transaction.

“I didn’t sign to authorise the transfer and I don’t know whether any other directors did it,” the prosecution’s 42nd witness testified before Judge Mohd Nazlan Mohd Ghazali today, Wednesday, July 3, 2019.

SRC International was granted a total RM4 billion KWAP’s loan in two tranches in 2011 and 2012.

The first tranche of RM2 billion loan was deposited into and transferred out of SRC International’s second ‘secret’ account in Ambank with number ending 736 on the same day, August 29, 2011.

The second RM2 billion tranche was deposited into the company’s main account with number ending 650 on May 28, 2012 and was transferred out on May 30, 2012.

The secret ‘736’ account is registered under Nik Faisal, Suboh and another person, Vincent Beng Huat.

SRC International, a subsidiary under 1MDB then, supposedly had sought the KWAP loan then to facilitate its imminent investments into alternate energy resources sector.

Pekan MP Najib is facing 7 corruption charges pertaining to SRC International funds.

The charges were 3 each for CBT under Section 409 of the Penal Code and money laundering under Section 4 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities (AMLA) Act 2001, and 1 for abuse of power under Section 23 of the Malaysian Anti-Corruption Act (MACC) 2009. – NTHQiBord, 3 Julai 2019.

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