MACC seeks Jho Low, 2 others in probe into SRC International

The Malaysian Anti-Corruption Commission has served a notice to Jho Low and two others in relation to its investigations into SRC International. – Pic courtesy of MACC, August 22, 2015.

Malaysian anti-graft investigators have issued a notice asking businessman Low Taek Jho and two others to come forward in relation to a probe into SRC International Sdn Bhd.

The Malaysian Anti-Corruption Commission (MACC) said the two others were SRC International's managing director Nik Faisal Ariff Kamil and director Datuk Suboh Md Yassin.

SRC International is a former subsidiary of state investment firm 1Malaysia Development Bhd (1MDB).

"The three are urged to contact the investigating officer of the case, that is deputy commissioner Rosli Husain at 010-3187757 or 03-88900752 or deputy commissioner Norkhafizin Isa at 019-6000345 or 03-88900754," MACC's director of investigations Datuk Azam Baki said in a statement today.

Low, also known as Jho Low, has his last known address as 69, Tanjung Bungah Park, Tanjung Bungah, Penang, while Nik Faisal's is 17&19, Jalan Tun Teja 35/16, Alam Impian, Shah Alam, Selangor, Azam said in the statement.

Suboh's last identified address was 3-15-2, No. 3, The Residence, Jalan Wan Kadir 5, Taman Tun Dr Ismail, Kuala Lumpur.

The MACC also urged anyone with information on the trio to call the numbers or inform its nearest office.

Nik Faisal had also been 1MDB's chief investment officer at the same time as being executive director of investments at UBG Bank, while Low was coordinating the acquisition of the bank by PetroSaudi International, according to a report by whistle-blower website Sarawak Report. 

SRC International was a subsidiary of 1MDB until it was placed under the Finance Ministry in February 2012. 

It had also taken a government-backed loan of RM4 billion from Retirement Fund Inc (KWAP), the government pension fund. 

SRC International was named by The Wall Street Journal (WSJ) in its July 2 expose as one of the 1MDB-linked companies that was part of the trail of US$700 million (RM2.6 billion) that went to Prime Minister Datuk Seri Najib Razak's personal bank accounts.

According to WSJ and Sarawak Report, Nik Faisal had power of attorney over Najib’s accounts.

Suboh is also a shareholder of Gandingan Mentari, which is another company that was part of the money trail.

Of the total amount, US$11.1 million (RM42 million) had originated from SRC International and was channelled into other companies – Gandingan Mentari and Ihsan Perdana – before it ended up in Najib's accounts in transactions conducted between December 2014 and February this year, according to WSJ, which cited documents from Malaysian government investigators. 

It was reported previously that both Suboh and Nik Faisal were wanted by the MACC but both have since gone missing.

MACC's probe into SRC International is over a RM4 billion bond sourced from KWAP.

The company's account was also frozen by investigators shortly after WSJ's report.

Five people, including director of SRC International and a construction and property development firm's director, were remanded last month to assist in investigations and have since been released.

- TMI