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I didn’t use Nik Faisal to pocket RM42mil, Najib testifies
3 HOURS AGO
Faisal Asyraf
The former prime minister was testifying as the defendant in SRC International’s RM42 million civil suit
SRC International and its subsidiary are suing former prime minister Najib Razak to recover RM42 million allegedly misappropriated from the company. (Bernama pic)
KUALA LUMPUR: Former prime minister Najib Razak told the High Court today that he did not use former SRC International Sdn Bhd director Nik Faisal Ariff Kamil to channel RM42 million into his personal accounts.
Testifying in a civil suit brought by SRC and its subsidiary Gandingan Mentari Sdn Bhd, Najib rejected the plaintiffs’ attempt to draw what he described as an “instruction chain” through individuals such as Nik Faisal.
“I did not use him or anyone as a conduit to dictate outcomes to SRC’s board or to orchestrate the RM42 million credited into my accounts,” he said.
Najib said this when examined by his counsel Farhan Shafee.
He said if any SRC officer had represented certain decisions as “the prime minister’s instructions”, such actions were unauthorised and contrary to proper corporate governance.
Najib also told the court that he was never a director of SRC, did not attend its board meetings, and did not manage its operations, adding that under SRC’s constitution and the Companies Act, management of the company lay with its board and officers.
“Any approvals or consents associated with my public offices were sequenced after board processes and did not convert me into a de facto or ‘shadow’ director,” he testified.
I didn’t select Nik Faisal as CEO
Under examination by Farhan, Najib denied approving the appointment of Nik Faisal and Vincent Koh as SRC’s initial directors, saying he was not informed of the appointments and that such operational matters did not require his approval.
However, Najib acknowledged issuing a letter dated Aug 1, 2011, concerning the proposed directors of SRC.
He told the court that prior to August 2011, a list of proposed directors had been submitted to him by then 1MDB CEO Shahrol Azral Ibrahim Halmi.
The list included names stated in the letter, with Ismee Ismail as chairman and Nik Faisal as CEO and managing director nominees.
Najib said he was informed that the individuals had been selected by 1MDB, SRC’s holding company, and as such, he saw no reason to disagree with the nominations.
“My approval was primarily based on the fact that the board of 1MDB had already selected these individuals,” he said.
SRC and Gandingan Mentari are suing the former prime minister to recover RM42 million allegedly misappropriated from the company’s accounts.
Najib has been jailed since Aug 23, 2022, after he was convicted of misappropriating RM42 million in SRC funds. He was sentenced to 12 years’ jail and fined RM210 million.
Following a petition for a royal pardon filed on Sept 2, 2022, the Federal Territories Pardons Board on Jan 29 last year halved Najib’s jail term to six years, and reduced his fine to RM50 million.
The hearing before Justice Raja Ahmad Mohzanuddin Shah Raja Mohzan will continue tomorrow.
Counsel Lim Chee Wee represented SRC and Gandingan Mentari.
Testifying in a civil suit brought by SRC and its subsidiary Gandingan Mentari Sdn Bhd, Najib rejected the plaintiffs’ attempt to draw what he described as an “instruction chain” through individuals such as Nik Faisal.
“I did not use him or anyone as a conduit to dictate outcomes to SRC’s board or to orchestrate the RM42 million credited into my accounts,” he said.
Najib said this when examined by his counsel Farhan Shafee.
He said if any SRC officer had represented certain decisions as “the prime minister’s instructions”, such actions were unauthorised and contrary to proper corporate governance.
Najib also told the court that he was never a director of SRC, did not attend its board meetings, and did not manage its operations, adding that under SRC’s constitution and the Companies Act, management of the company lay with its board and officers.
“Any approvals or consents associated with my public offices were sequenced after board processes and did not convert me into a de facto or ‘shadow’ director,” he testified.
I didn’t select Nik Faisal as CEO
Under examination by Farhan, Najib denied approving the appointment of Nik Faisal and Vincent Koh as SRC’s initial directors, saying he was not informed of the appointments and that such operational matters did not require his approval.
However, Najib acknowledged issuing a letter dated Aug 1, 2011, concerning the proposed directors of SRC.
He told the court that prior to August 2011, a list of proposed directors had been submitted to him by then 1MDB CEO Shahrol Azral Ibrahim Halmi.
The list included names stated in the letter, with Ismee Ismail as chairman and Nik Faisal as CEO and managing director nominees.
Najib said he was informed that the individuals had been selected by 1MDB, SRC’s holding company, and as such, he saw no reason to disagree with the nominations.
“My approval was primarily based on the fact that the board of 1MDB had already selected these individuals,” he said.
SRC and Gandingan Mentari are suing the former prime minister to recover RM42 million allegedly misappropriated from the company’s accounts.
Najib has been jailed since Aug 23, 2022, after he was convicted of misappropriating RM42 million in SRC funds. He was sentenced to 12 years’ jail and fined RM210 million.
Following a petition for a royal pardon filed on Sept 2, 2022, the Federal Territories Pardons Board on Jan 29 last year halved Najib’s jail term to six years, and reduced his fine to RM50 million.
The hearing before Justice Raja Ahmad Mohzanuddin Shah Raja Mohzan will continue tomorrow.
Counsel Lim Chee Wee represented SRC and Gandingan Mentari.
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