Kuala Lampur, July 18 -- SRC International Sdn Bhd was a company with poor supervision and inefficient in reporting its financial performance to related regulators within the Ministry of Finance (MoF), the High Court here heard today.

The former deputy secretary-general of the Investment Treasury Department within the MoF, Datuk Fauziah Yaacob, told the court how SRC International were known for being late with their submissions of performance reports, including information on investments undertaken by the company.

Fauziah, who retired in November 2015, explained how the Government Companies Investments division under her department were tasked to oversee about 120 companies owned by the government through the MoF, among them SRC Intern...