Ex-SRC director: Najib's investment decision can't be questioned

 

A former director of SRC International Sdn Bhd testified that former prime minister Najib Abdul Razak's investment decision involving the Minister of Finance Incorporated (MoF Inc) company could not be questioned.

Shahrol Azral Ibrahim Halmi told the Kuala Lumpur High Court this during today's full hearing of SRC's US$1.18 billion (RM3.6 billion in foreign exchange rates between 2011 and 2012) against former finance minister Najib.

Shahrol is a third party allowed by the civil court to be brought into the suit by Najib to fully or partially reimburse the former premier if SRC wins the civil action against the ex-finance minister.

The former SRC director was responding to questions by his lawyer Chong Yik Loong during the full hearing before civil court judge Ahmad Fairuz Zainol Abidin.

Chong: As far as you are concerned, the prime minister (Najib) and Finance Ministry's decision on the investment (involving SRC funds) was on the welfare of the nation, and it was something not to be questioned?

Shahrol: Agreed.

SRC’s present civil action against Najib is linked to the alleged misappropriation of the RM4 billion in loans that the company received from Retirement Fund Incorporated (KWAP) between 2011 and 2012. KWAP is a statutory body under the Finance Ministry.

Najib, who was also SRC’s former adviser emeritus, is serving a six-year jail sentence and fined RM50 million in a separate criminal court case involving RM42 million of funds from the company.

Trial resumes tomorrow

Shahrol was not only a prosecution witness in the RM42 million SRC corruption trial against Najib but was also relied on by prosecutors to testify against the ex-premier in the ongoing RM2.27 billion 1MDB power abuse and money laundering trial against the ex-finance minister.

The civil court trial before Fairuz resumes tomorrow.

Under its new management, SRC filed the suit in May 2021, alleging that Najib, as adviser emeritus of the plaintiff, had committed breach of trust and abuse of power, personally benefited from the company’s funds, and misappropriated billions of ringgit.

SRC also seeks a court declaration that Najib is responsible for its losses due to a purported breach of duties and trust, and for the ex-PM to repay RM42 million.

The plaintiff also seeks a court order for Najib to be made accountable for the former’s US$1.18 billion loss, as well as repay an amount of US$120 million of its funds that allegedly flowed into the former premier’s bank account. - Mkini