Najib’s decisions on SRC International investments never questioned by top management, Shahrol tells court

KUALA LUMPUR: Datuk Seri Najib Razak’s decisions relating to investments by SRC International Sdn Bhd were not questioned by the company’s top management, the High Court heard.

SRC International’s former director Datuk Shahrol Azral Ibrahim Halmi agreed to a suggestion by his lawyer Chong Yik Loong at the hearing of a lawsuit by SRC International against the former prime minister and its former CEO Nik Faisal Ariff Kamil here on Tuesday (May 7).

Shahrol Azral is a third-party witness in the lawsuit.

Chong: As far as you are concerned, the prime minister and the finance minister’s decision on the investment was on the welfare of the nation and that is something not to be questioned?

Shahrol Azral: Agreed.

The witness said it never occurred to him to question Najib’s decisions.

“Najib issued a very descriptive minute (shareholder’s resolution) on what SRC International needed to do to execute his wishes.

“It did not cross my mind to block or slow down (in executing decisions),” Shahrol Azral said.

Under new management, SRC filed the legal action in May 2021, alleging that Najib had committed breach of trust, abuse of power, misappropriated the company’s funds and personally benefited from it.

It named Najib along with its former directors Datuk Suboh Md Yassin, Mohammed Azhar, Nik Faisal Ariff Kamil, Datuk Che Abdullah @ Rashidi Che Omar, Shahrol Azral and Tan Sri Ismee Ismail in May 2021.

However, later, it removed six names, including Shahrol Azral, from the suit and retained Najib and Nik Faisal as the first and second defendants.

Additionally, Najib has brought the former named SRC International directors as third-party respondents in the suit.

Najib was SRC’s Emeritus Advisor from May 1, 2012, until March 4, 2019.

The company is seeking damages, interests, costs and a court declaration that Najib is responsible for the company’s losses due to his breach of duties and trust, and is demanding that Najib pay back the US$1.18bil in losses that it has suffered.

It is also seeking US$120mil and US$2mil from Najib and Nik Faisal respectively, on account of fraudulent breach of fiduciary duties and breach of trust.

Najib has been serving a jail sentence at the Kajang Prison since Aug 23, 2022, after being convicted of misappropriating RM42mil in SRC International funds.

After he filed a petition for a royal pardon on Sept 2, 2022, his jail term was reduced from 12 years to six years and the fine was reduced to RM50mil from RM210mil.

The hearing continues before Justice Ahmad Fairuz Zainol Abidin on Wednesday (May 8).

Another former director of SRC International, Che Abdullah @ Rashidi Che Omar, is scheduled to take the stand.