KUALA LUMPUR: Najib Razak considered it normal for the Cabinet to approve a government guarantee even before SRC International made an application to borrow RM2 billion from the pensioners’ retirement fund , the ex-prime minister’s corruption trial heard today.
However, for the second RM2 billion, the Cabinet led by Najib approved the guarantee first and only later did SRC apply for the loan. SRC was initially a wholly-owned subsidiary of 1MDB but in February 2012, it was placed under Ministry of Finance Incorporated . Najib dismissed Sithambaram’s suggestion that he had taken steps to assist SRC all the way because he had a personal interest and wanted to make the company his private concern.
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