SRC rebuts Malaysiakini reports, urges AG to investigate

SRC International Sdn Bhd has rebutted reports by two news portals on an alleged charge sheet against the Prime Minister and a diagram of alleged flow of funds into his accounts which said that a RM4-billion loan obtained by the company from Retirement Fund Inc (KWAP) had been misappropriated.

In a statement here today, the company said that based on internal investigation, it was believed that the claims were based on documents that were fabricated in 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," it said. The statement referred to news portals Sarawak Report and Malaysiakini.

The company said the false allegations represented a serious attack on SRC, which resulted in negative financial and reputational repercussions for its business, as well as the government in an attempt to politically undermine it.

On the company's CSR activities, the statement said any expenditure by the company on social programmes was derived from cash income generated from its 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," it said.

SRC has urged the Attorney-General to conduct a full investigation into the claims and the alleged charge sheet published by Sarawak Report and the 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," the company said.