Ministry vague on RM3.8b pension fund money
KiniTV
2015-08-06
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The Finance Ministry today only managed to give a vague answer on how RM3.8 billion that its subsidiary company SRC International borrowed from the pensioners fund (KWAP) has been used.
Despite a specific question by Rafizi Ramli (PKR-Pandan) on how the money was spent, the ministry said that RM3.8 billion out of the RM4 billion loaned in 2011 had been invested Indonesia, Mongolia and "some other countries" without being specific.
It said that the money was invested in "natural resources and coal mines".
Despite a specific question by Rafizi Ramli (PKR-Pandan) on how the money was spent, the ministry said that RM3.8 billion out of the RM4 billion loaned in 2011 had been invested Indonesia, Mongolia and "some other countries" without being specific.
It said that the money was invested in "natural resources and coal mines".
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