Finance Minister Lim Guan Eng said SRC transferred a total of RM3.6 billion out of the country after it was loaned RM4 billion by Retirement Fund Inc (KWAP) .

Lim said the offshore companies were BSI Bank in Switzerland, which was given more than US$800 million, Julius Baer & Co Bank Ltd Hong Kong (US$250 million) and a coal exploration company in Mongolia (US$60 million).

“Since a big portion of these funds were used around the world, the government is taking steps to recover as much of the RM4 billion given out as possible.

“These monies do not include the RM42 million which was alleged to have been misappropriated by SRC, which is a subject of seven criminal charges being tried at the High Court,” he said in a statement today.

The case is related to former prime minister Najib Razak’s six charges of money laundering and criminal breach of trust in the alleged transfer of RM42 million to his account from SRC International.

Najib is also accused of abusing his power as prime minister by giving government guarantees on SRC International’s RM4 billion loan from KWAP.

In May, KWAP officials testified in the SRC trial that Najib had supported SRC’s loan request from the retirement fund.

Subsequently, a RM2 billion loan was given by the retirement fund in 2011, and another RM2 billion the following year, as a form of revolving capital and for general investments.