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SRC insolvent, Finance Ministry repaying RM2 billion debt

May 30, 2018

* MACC expects to file charges on SRC International case ‘very soon’
*
Deloitte wants to resign as auditor for SRC International
* Rafizi trains spotlight on alleged SRC money trail docs
* Report: BNM overpaid MOF for land purchased

Former 1MDB subsidiary SRC International Sdn Bhd is insolvent, forcing its current owner – the Finance Ministry – to service the repayment of a RM2 billion loan to the Retirement Fund Incorporated (Kwap), according to sources.

Over the 10-year repayment period, the Finance Ministry would eventually have to fork out RM2.902 billion, including interest.

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From → Malaysia Upclose

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