00:00The High Court in Kuala Lumpur was told on Tuesday that former SRC International Sendirian
00:08Berhad CEO Nik Faisal Arif Kamil misled the Board of Directors about repatriating the
00:13company's funds from abroad.
00:16Former SRC Director Datuk Suboh Mad Yassin, who testified at the trial involving a US$1.18
00:22billion lawsuit filed by SRC against former Prime Minister Datuk Seri Najib Razak and
00:28Nik Faisal, said there were numerous criminal elements and fraudulent activities within
00:33the company's management.
00:35Seventy-three-year-old Suboh, who was named as a third-party respondent in the lawsuit,
00:40concurred with Najib's lawyer, Tan Sri Mohammed Shafi Abdullah, that Nik Faisal, currently
00:45at large, failed to return the company's funds despite assuring the Board that he would.
00:51The funds in question were part of a R3.6 billion loan from the retirement fund incorporated
00:57KWAP to SRC intended for investments.
01:01Suboh also agreed with Mohammed Shafi's suggestion that several rogues were involved in the company's
01:06management.
01:07SRC, under new management, initiated legal action in May 2021, accusing Najib of breach
01:14of trust, abuse of power, and misappropriation of company funds for personal gain.
01:20Initially, the lawsuit named Najib, Suboh, Mohammed, Azhar, Osman, Khairuddin, Nik Faisal,
01:27Datuk Shafi Abdullah alias Rashidi Shafi Omar, Datuk Shahrol Azral Ibrahim Halmy, and Tan
01:33Sri Ismi Ismail.
01:34However, the company later removed six names, including Suboh, from the lawsuit, retaining
01:40Najib and Nik Faisal as the primary defendants.
01:43Additionally, Najib has brought the former named SRC international directors as third-party
01:49respondents in the suit.
01:51SRC is seeking damages, interest, costs, and a court declaration holding Najib accountable
01:57for the company's losses due to his breach of duties and trust.
02:02The company demands that Najib repay the US$1.18 billion in losses and is also seeking US$120
02:09million and US$2 million from Najib and Nik Faisal, respectively, for fraudulent breach
02:16of fiduciary duties and trust.
02:18The hearing before Justice Ahmad Fairooz Zainul Abidin continues.
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