SRC insolvent, Finance Ministry repaying RM4b debt

Annabelle Lee & Andrew OngPublished: May 30, 2018 5:16 AM | Updated: May 30, 2018 11:39 AM

Former 1MDB subsidiary SRC International Sdn Bhd is insolvent, forcing its current owner – the Finance Ministry – to service the repayment of a RM4 billion loan to the Retirement Fund Incorporated (Kwap), according to sources.

Kwap had disbursed the loan in two tranches – in 2011 when SRC International was a 1MDB subsidiary, and in 2012 after it was taken over by the Finance Ministry...

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