KUALA LUMPUR: Second Finance Minister Datuk Johari Abdul Ghani has admitted that SRC International Sdn Bhd, a former subsidiary of state-owned investment fund 1Malaysia Development Bhd (1MDB), is one of the problems faced by the country today. SRC International was set up by Prime Minister Datuk Seri Najib Razak’s government in early 2011 to pursue strategic overseas investments in energy resources. Now directly under the finance ministry, SRC International is under pressure to meet interest payments on its borrowings of RM4.3 billion, which came primarily from the Retirement Fund Inc (KWAP). It was reported that SRC International paid an annual interest of RM164 million to KWAP. “BSI is still there, so whatever funds that they (SRC International) had invested, we are looking at [recovering] it,” he said.

Source: The Edge Markets November 02, 2016 01:56 UTC