‘KWAP not bound to instructions from third parties’

📆 5/15/2019 3:13 AM
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KUALA LUMPUR: The investment panel of the Retirement Fund Incorporated (KWAP) was not bound to instructions from third parties, including the prime minister and finance minister, in any loan application, the High Court heard.

The investment panel of the Retirement Fund Incorporated was not bound to instructions from third parties, including the prime minister and finance minister, in any loan application, the High Court heard.

In her testimony here yesterday, she said the investment panel had the power to approve, reject and postpone any decision on loan applications as well as to requests for additional documents to verify applications. Azlida had last week said in court that Najib had urged the retirement fund to rush the approval for the RM2bil loan to SRC International in 2011.

She agreed to Harvinderjit’s suggestion that they could reject the applications of those applying for loans.

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SRC trial: Witness says KWAP investment panel not bound by PM, ministers’ views on loan approvals | Malay MailKUALA LUMPUR, May 14 — The Retirement Fund Incorporated’s (KWAP) investment panel need not obey instructions from the prime minister or Cabinet members when approving loans within its purview, the High Court heard today. The prosecution’s 35th witness in Datuk Seri Najib Razak’s trial over... 🤣
Source: malaymail - 🏆 1. / 86 Read more »