We refer to previous reports carried by Malaysiakini , apparently working hand-in-hand with a foreign controlled blog Sarawak Report – who published an alleged charge sheet against the Prime Minister and a diagram of alleged fund flows into his accounts – saying that a RM4 billion loan obtained by SRC International from KWAP had been misappropriated.
We strongly reject these allegations. Having conducted an internal investigation, we believe these claims were based on documents that were fabricated, therefore representing a deliberate attempt to mislead the public.
In reality, all the RM4 billion borrowed from KWAP is accounted for on our balance sheet, in accordance with standard accounting and governance practices. None of it was misappropriated, as claimed by those with malicious intent.
With respect to SRC’s CSR (corporate social responsibility) activities, any expenditure by the company on social programmes is derived from cash income generated from our investments.
Over the years, this has amounted to approximately RM500 million, excluding other non-cash items, providing us with strong income to use for such purposes.
In the interest of full disclosure, we ask the good office of the attorney-general to conduct a full investigation into these claims and the alleged charge sheet published by Sarawak Report and fund flows diagram published by Malaysiakini . We ask that the parties responsible for these fabrications be identified, given that their authenticity was denied by the Malaysian Anti-Corruption Commission on Aug 3 2015.
These false allegations represented a serious attack on SRC, which resulted in negative financial and reputational repercussions for our business, as well as the government in an attempt to politically undermine it.
We call on those quarters who are engaged in efforts to overthrow the government to desist from involving SRC in their political campaign and to avoid making false and unsubstantiated allegations against us.
Related reports
