From 2015 to 2017, the Ministry of Finance had to fork out RM605m to pay SRC International’s overdue interest payment for its loans from KWAP – loans that Najib Razak vouched for. Patrick Teoh presents for the Malaysian Insight.
To this day, SRC never paid back any of its loans, and the government ended up footing the bill for RM4.2bn, which it has until 2022 to repay.
In case you’re wondering what RM605m looks like: let’s say an average household in Malaysia earns RM5,000 a month. RM605m would sustain 120,000 households.
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