How much role does then SRC International chief executive officer (CEO) Nik Faisal Ariff Kamil played in the movement of the RM2 billion loan from Retirement Fund Incorporated (KWAP) to the then subsidiary of 1MDB?
This is the issue that may be further explored by Najib Abdul Razak's defence team when they resume their cross-examination of SRC International's former chairperson Ismee Ismail on the 24th day of the former prime minister's trial for abuse of power, corruption and money laundering of RM42 million from KWAP.
When proceedings resume before Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali at 9am today, the defence team may grill the 39th witness for more oral evidence over Nik Faisal's dealings with the board of directors (BOD) of SRC International, which became fully owned by the Minister of Finance Incorporated in early 2012.
Yesterday while under heavy questioning by defence lawyer Harvinderjit Singh, Ismee told the court that Nik Faisal, who is currently missing and actively sought by the authorities, misled and kept the company's BOD in the dark over key matters in relation to its financial management.
Among them was the existence of an AmIslamic Bank account with an account number ending with 736 which was registered under SRC International's name, into which the first KWAP loan tranche of RM2 billion was transferred on Aug 29, 2011, without the BOD's knowledge.
SRC International later receive a second tranche loan of RM2 billion from KWAP in early 2012.
Among other matters that Ismee revealed that was kept from the knowledge of the company's board members was that Nik Faisal did not inform them about him having early on sought a RM3.95 billion loan for SRC International in a letter to Najib dated June 3, 2011.
Prior to the first tranche of RM2 billion loan granted by KWAP to SRC International in August 2011, the company had made an official application for a RM3.95 billion loan from the fund.
The company's BOD only came into existence in August 2011, with Ismee being officially made its chairperson that same month. Prior to that as early as January 2011, SRC International only had Nik Faisal and Vincent Beng Huat Koh as the sole directors.
Najib's defence team may further question Ismee over the roles played by not only Beng but also that of the four authorised signatories of the 736 account, namely Nik Faisal, as well as Shahrol Azral Ibrahim Halmi, Terence Geh Choh Heng and Radhi Mohamed, who were 1MDB's CEO, executive director of finance, and chief financial officer respectively.
[More to follow] - Mkini
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