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KUALA LUMPUR: A sum of US$15mil (RM70mil) was transferred out of SRC British Virgin Islands (SRC BVI) to a company called Muraset Ltd, and ended up being funnelled to several people, including the son of a former Mongolian prime minister and a politician in 2011, the High Court has heard.
KUALA LUMPUR: Some US$60mil flew out of SRC International for the purpose of a joint venture (JV) between its subsidiary SRC BVI and the government of Abu Dhabi relating to a coal mine that ended up not producing coal or generating revenue from mining operations, the High Court heard.
KUALA LUMPUR: The High Court today was told that a company linked to fugitive businessman Low Taek Jho or Jho Low which received US$15 million from SR...
KUALA LUMPUR: The High Court has been told that a company linked to fugitive businessman Low Taek Jho or Jho Low, which received US$15mil from SRC BVI, transferred out the funds to several prominent individuals.
KUALA LUMPUR: The High Court here was told that a RM1.8bil loan taken out by SRC International Sdn Bhd from Retirement Fund Inc (KWAP) was never used for investments in the energy and resource sectors, a purpose it was intended for.