The alleged contradiction in former SRC International chairperson Ismee Ismail’s testimony about whether the company’s board of directors (BOD) acted for its advisor emeritus Najib Abdul Razak or its shareholder is at the forefront of the 25th day of the former prime minister’s RM42 million SRC International trial.
When proceedings before Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali begins at 9am today, the defence team will inform the court about their next course of action after having gone through the 39th witness’ complete court transcript since the witness took the stand on Monday this week.
Yesterday around midday, Najib’s lead counsel Muhammad Shafee Abdullah had sought a sudden adjournment of trial to this morning to allow the defence to peruse Ismee’s court transcript to check for any contradiction in the witness’ testimony.
Nazlan had allowed the adjournment bid, with Shafee saying that the defence needed the rest of yesterday “afternoon and night” to go through the court transcripts.
DPP V Sithambaram said the prosecution has no objection to the application, following Ismee’s oral evidence yesterday which allegedly contradicted what was stated in his witness statement filed earlier in court.
Yesterday, following a contentious cross-examination by Najib’s defence counsel Harvinderjit Singh, Ismee testified that SRC International’s BOD acted based on its shareholder’s resolution.
According to his witness statement in writing which he read out in court on Monday, the company’s BOD took serious consideration and implement the advice of its advisor emeritus Najib. He added that Najib was the sole shareholder who had control over SRC International.
This turn of events led to Harvinderjit seeking a brief stand down of proceedings, which was allowed by Nazlan. Then members of the defence and prosecution were seen trooping into the judge’s chambers to argue over the issue.
Once they re-emerged from the chambers and proceedings reconvened, Shafee made the adjournment application which Nazlan allowed.
Over the course of proceedings since Monday, Ismee and Harvinderjit at times clashed over several issues, among them being the extent of Najib’s influence over SRC International's financial management and whether its board required then finance minister Najib's approval for the company’s transaction.
SRC International was a subsidiary of 1MDB when incorporated in January 2011. However, the company was fully acquired by the Minister of Finance Incorporated in early 2012.
The company had obtained a total RM4 billion in loans from Retirement Fund Incorporated (KWAP), with the first RM2 billion tranche received in August 2011 and the second RM2 billion tranche in March 2012.
[More to follow] - Mkini
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