00:02A former director of SRC International has told the High Court he had absolutely no knowledge
00:09of how 42 million ringgit ended up in the personal bank account of former Prime Minister Datuk Seri
00:16Najib Razak. Tanshri Ismail said he only learned about the money transfer after being contacted
00:23by authorities during investigations. He also said he was never informed about the transaction
00:28at the time it occurred. The 42 million ringgit was part of 123 million ringgit borrowed by SRC
00:36from the Retirement Fund, or KWAP, and was allegedly channeled into Najib's personal account
00:43through a company called Ihsan Perdana, which managed SRC's Corporate Social Responsibility
00:49Program. Izmi told the court that he had resigned as SRC director on August 15, 2014,
00:59months before the transfers in question, which allegedly took place between December 2014
01:04and February 2015. He stressed that after his resignation, he had no authority over SRC's
01:12administration or any subsequent transactions. On the question of Najib's role, Izmi pointed
01:19to the former Premier's position as both Prime Minister and Finance Minister at the time, saying
01:25Najib's involvement was tied to a government guarantee on the KWAP loan. He also testified
01:31that SRC's board of directors had no power to reject resolutions put forward by its sole
01:37shareholder, the Minister of Finance Incorporated, and acted in good faith, believing SRC was serving
01:44as a government vehicle for national interest investments. Izmi also pushed back firmly against
01:49Najib's claim that the SRC board should share liability for breach of fiduciary duties, calling
01:56that claim completely baseless. The trial before Judge Datuk Raja Ahmad Mohanuddin Shah, Raja
02:03Mohanuddin Shah, Raja Mohan continues tomorrow.
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