The criminal trial of former prime minister Najib Abdul Razak involving the alleged misappropriation of funds from SRC International Sdn Bhd enters its 26th day today at the High Court in Kuala Lumpur.
Malaysiakini brings you live reports of the proceedings.
KEY HIGHLIGHTS
- Lawyer, Ismee lock horns over Najib's 'approval' for SRC decisions
- 'What time do we usually break for lunch?'
- Jho Low's name crops up again
- Ismee agrees ex-director may be complicit with ex-CEO to defraud SRC
- Ismee: Without money trail, I can't say what happened to RM4b
- Board did not approve RM2b leaving SRC account - witness
- 'Board unaware of Nor Mohamed Yakcop's role in SRC'
- Ismee agrees directors didn't give mandate for RM2b guarantee
- Ex-PM enters the dock
Lawyer, Ismee lock horns over Najib's 'approval' for SRC decisions
3.30pm - Defence lawyer Harvinderjit Singh locks horns with witness Ismee Ismail (photo) again, this time over a suggestion that the SRC International board did not need approval from then-premier Najib Abdul Razak for company decisions.
Harvinderjit suggests that Najib's approval was not necessary, as the wording of the company's memorandum and articles of association (M&A) only stipulates obtaining the former premier's "advice."
Ismee, the former SRC International chairperson, says in response that there is more to the matter than what is written on paper.
Harvinderjit: But it (M&A) doesn't say 'approval'. It doesn't require approval by the prime minister.
Ismee: I'm sure the article can't say that, can it? (It is the) company's act, (it cannot state) direction or approval. This is why I say, this is one of the things that are tersirat (implied).
Ismee's answer seems to upset Harvinderjit, who challenges the witness for continually referring to "tersurat (express)" or "tersirat."
This prompts an interjection from deputy public prosecutor V Sithambaram, who objects to Harvinderjit arguing with the witness.
"You are not supposed to argue with him, you are supposed to get answers (from him)," he says.
Harvinderjit then apologises to the court, and continues with the cross-examination of Ismee.
2.38pm - Proceedings resume with the cross-examination of former SRC International chairperson Ismee Ismail.
1pm - Proceedings break for lunch, and are expected to resume at 2.30pm this afternoon.
'What time do we usually break for lunch?'
12.35pm - Justice Mohd Nazlan Mohd Ghazali shoots down a request by defence counsel Harvinderjit Singh for the court to call an early lunch break.
Harvinderjit makes the request during his cross-examination of former SRC International chairperson Ismee Ismail over the validity of several documents related to the company that had been tendered as evidence – including meeting minutes and shareholder resolutions.
The lawyer appears to lose track of time, as he also asks the judge the usual time court breaks for lunch.
"Yang Arif, can we break for lunch?" says Harvinderjit. "What time do we usually break for lunch?"
Nazlan tells him that court usually breaks at 1pm.
This elicits a giggle from Harvinderjit, who then tells the court that he will continue with the cross-examination until lunchtime.
Jho Low's name crops up again
11.15am - After a short break, the name of fugitive businessperson Low Taek Jho crops up in court again – this time, when defence lawyer Harvinderjit Singh quizzes Ismee Ismail on former 1MDB finance director Terrence Geh representing the SRC International secretary in a board meeting.
Harvinderjit Singh asks the former SRC International chairperson whether he knows that then-CEO Nik Faisal Ariff Kamil was a close associate of Low's.
Harvinderjit: What about Geh? Are you aware now he is a close associate to Low?
Ismee: Now I'm aware.
Harvinderjit: And so is Nik Faisal, now you are aware?
Ismee: Yes.
Harvinderjit: So from what you are aware of now, people like Nik Faisal, Jerome Lee, Terrence Geh, they are close associates of Low?
Ismee: Yes.
Ismee agrees ex-director may be complicit with ex-CEO to defraud SRC
10.30am: Ismee Ismail agrees with the defence that then-director Suboh Md Yassin may have been complicit with then-CEO Nik Faisal Ariff Kamil to defraud the SRC International board over a deal struck by Gandingan Mentari Sdn Bhd and Putra Perdana Construction Sdn Bhd.
Ismee (photo), the former SRC International chairperson, agrees with defence lawyer Harvinderjit Singh's contention that the board was kept in the dark over the deal for Gandingan Mentari to pump RM140 million into Putra Perdana Construction for the latter to invest in South Africa.
The deal involves a 70/30 profit split between Gandingan Mentari and Putra Perdana Construction.
Harvinderjit: Suboh was not honest with the board, by looking at the signature (on documents). He was not honest with the board.
Ismee: He thought it was Gandingan Menteri.
Harvinderjit: Gandingan Mentari entered an agreement with Putra Perdana Construction as a pseudo-investment manager to mine in South Africa, committing RM140 million to Putra Perdana Construction, and split 70/30 with Gandingan. This was not told to the board?
Ismee: Yes (agreeing).
Harvinderjit: It appears that Suboh was complicit with Nik Faisal.
Ismee: Yes.
The SRC International board was allegedly defrauded during its July 2014 meeting.
Ismee: Without money trail, I can't say what happened to RM4b
10.30am - Former SRC International chairperson Ismee Ismail testifies that he cannot say what happened to the RM4 billion loaned by the Retirement Fund Inc (KWAP) to the company in 2011 and 2012.
Under cross-examination by defence lawyer Harvinderjit Singh, he says that he cannot do so without proper documentation.
Harvinderjit: You can't say what happened to the money from KWAP... What happened to the KWAP loan to SRC?
Ismee: Without any documentary evidence or money trail, I can't say for sure.
Board did not approve RM2b leaving SRC's account - witness
10.20am - Former SRC International chairperson Ismee Ismail agrees that the second RM2 billion tranche of the loan from Retirement Fund Inc (KWAP) – that was banked into the company's account on March 28, 2012 – went out later that month without the board's approval.
He is replying to the questions from defence lawyer Harvinderjit Singh (photo).
Harvinderjit: An entire RM2 billion from KWAP was credited into the account on March 28 (2012) and debited out of the account on March (not clear). The board did not approve of this.
Ismee: Yes.
Harvinderjit: The fact that the money came in and out, there is no complying with the board's mandate.
Ismee: Yes.
Harvinderjit: This is serious fraud.
Ismee: Yes.
Harvinderjit: There were (supposed to be) checks in place, the money in this account cannot be moved out unless a Group A authorised signatory (signed off on the transaction), but then how was the money transferred out? You cannot tell how?
Ismee: Yes.
'Board unaware of Nor Mohamed Yakcop's role in SRC'
9.50am - The board of SRC International was unaware of Nor Mohamed Yakcop's (photo) exact role in the company despite the former minister being involved in the RM2 billion loan from Retirement Fund Inc (KWAP).
Under cross-examination by defence lawyer Harvinderjit Singh, former SRC International chairperson Ismee Ismail that Nor Mohamed, who oversaw the Economic Planning Unit (EPU), was involved in several important in 2011 and 2012.
This includes the establishment of SRC International, and its change of ownership from 1MDB to Minister of Finance Inc.
Harvinderjit: So, to summarise, the decision made by the government to (give a) RM2 billion grant (was based on) a memorandum from the Treasury to Minister of Finance 2 (MOF2). And what the MOF2 minutes say is that 'setelah berbincang dengan pegawai MOF, memorandum ini disokong (After discussion with Finance Ministry officers, this memorandum is supported).' So on the face of this, the proposal for government grant comes from the Treasury. And approval for this sokongan (support) is from the EPU minister and the Finance Ministry. Correct?
Ismee: Yes.
Harvinderjit: And the board was not aware of what exactly Nor Mohamed's role was in SRC?
Ismee: Yes.
Former SRC chair agrees directors didn't give mandate for RM2b guarantee
9.37am: Former SRC International chairperson Ismee Ismail agrees with defence lawyer Harvinderjit Singh's assertion that the board did not issue a mandate for its then-CEO Nik Faisal Ariff Kamil to seek an RM2 billion guarantee from the government on Jan 31, 2012.
Harvinderjit: The (SRC International) board did not give mandate to Nik Faisal to issue the letter?
Ismee: As far as I could remember.
Harvinderjit: If the recipient, the Finance Ministry, went through the letter seeking RM2 billion government guarantee, the recipient would assume it went through the company's system (properly checked).
Ismee: That would be a reasonable assumption.
Retirement Fund Inc (KWAP) issued the second RM2 billion tranche of the loan to SRC International in March 2012.
Ex-PM enters the dock
9.09am - Najib enters the dock as proceedings begin, with former SRC International chairperson Ismee Ismail taking the stand to resume his cross-examination by lawyer Harvinderjit Singh.
9.07am - The accused, former premier Najib Abdul Razak, enters the Kuala Lumpur High Court and takes a seat at the front row of the public gallery.
Also seen are Attorney-General Tommy Thomas, who leads the prosecution team, and Najib's lead counsel Muhammad Shafee Abdullah, who heads the defence team.
The cross-examination of former SRC International chairperson Ismee Ismail will resume on the 26th day of former prime minister Najib Abdul Razak's RM42 million SRC International trial.
Since taking the stand last Monday, Ismee has been grilled by defence lawyer Harvinderjit Singh over then-SRC International CEO Nik Faisal Ariff Kamil allegedly misrepresentation the facts of the first RM2 billion tranche of the loan from Retirement Fund Inc (KWAP) to the board of directors.
On Friday, the 39th witness was asked whether Nik Faisal, who is now being sought by the authorities, had misrepresented the ownership transfer of SRC International from 1MDB to the Minister of Finance Inc in early 2012.
Harvinderjit focused on whether Nik Faisal had claimed that the transfer was greenlit by then-minister in the Prime Minister's Department overseeing the Economic Planning Unit (EPU), Nor Mohamed Yakcop.
Ismee was also questioned over first RM2 billion tranche of the loan, with RM1.8 billion sent out for overseas investment and RM200 million remaining in Malaysia.
However, based on other witness testimonies, the prosecution's case for Najib's alleged abuse of power, graft, and money laundering of RM42 million from SRC International only involves the second RM2 billion tranche of the loan in March 2012.
-Mkini
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