[LISTEN] The People v Najib Razak EP 28: The debt I owe


The Malaysian Insight

FROM 2015 to 2017, the Finance Ministry had to fork out RM605 million to pay SRC International’s overdue interest payment for its loans from KWAP—loans that Najib Razak vouched for.

But to this day, SRC never paid back any of its loans, and the government ended up footing the bill for RM4.15 billion, which it has until 2022 to repay.

In case you’re wondering what RM605 million looks like: let’s say an average household in Malaysia earns RM5,000 a month. RM605 million would sustain 120,000 households. - June 19, 2019.

* Note: The total amount MoF loaned to SRC was RM605 million but only RM595 million was used.

Of the third RM250 million loan, SRC only took RM213 million.


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