SRC In­ter­na­tional to re­cover money de­posited in BSI Bank

The Sun (Malaysia) - - MEDIA & MARKETING -

KUALA LUMPUR: SRC In­ter­na­tional Sdn Bhd is in the process of re­cov­er­ing the money it had de­posited at BSI Bank Ltd, Sec­ond Fi­nance Min­is­ter Datuk Jo­hari Ab­dul Ghani said.

“We are work­ing out through var­i­ous means to es­tab­lish the money that has been de­posited in BSI Bank,” he told re­porters on the side­lines of the Asian Strate­gic Lead­er­ship In­sti­tute’s 21st Malaysian Cap­i­tal Mar­ket Sum­mit here yes­ter­day.

Jo­hari said he was in­formed by SRC In­ter­na­tional’s man­age­ment that its money was de­posited at BSI Bank but was hav­ing dif­fi­culty in re­cov­er­ing it. The min­is­ter said the mat­ter was still be­ing in­ves­ti­gated and he could not di­vulge the details.

On May 24, the Mon­e­tary Au­thor­ity of Sin­ga­pore said it had or­dered the clo­sure of the unit of Switzer­land’s BSI Bank SA over se­ri­ous breaches of an­ti­money laun­der­ing re­quire­ments, poor man­age­ment over­sight of the bank’s op­er­a­tions, and gross mis­con­duct by some bank staff.

Asked on the clo­sure of BSI Bank, Jo­hari said, “BSI Bank is not closed down, it was sold to an­other en­tity. BSI is still there, so what­ever the fund that they (SRC In­ter­na­tional) have in­vested, I think we are look­ing at it.”

SRC In­ter­na­tional, set up in early 2011 to pur­sue strate­gic over­seas in­vest­ments in en­ergy re­sources, was a sub­sidiary of 1Malaysia De­vel­op­ment Bhd (1MDB) but was taken over by the Min­istry of Fi­nance fol­low­ing the lat­ter’s re­struc­tur­ing pro­gramme. – Ber­nama

Jo­hari (left) stress­ing a point dur­ing a lun­cheon in con­junc­tion with the 21st Malaysian Cap­i­tal Mar­ket Sum­mit yes­ter­day. Lis­ten­ing at­ten­tively is ASLI CEO Tan Sri Michael Yeoh.

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