KUALA LUMPUR: The Federal Government bailed out SRC International Sdn Bhd with close to RM600mil on several occasions to avoid the company from going into an event of default (EOD) with the Retirement Fund Inc (KWAP), after it defaulted on its payments.
The High Court heard on Wednesday (June 19) that SRC stopped making interest payments on the RM4bil loan in March 2015, resulting in outstanding amounts owed to the pension fund.
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