Failure to recover RM3.6bil ‘investment’ frustrated SRC board, says ex-director
Published on: Thursday, May 09, 2024
By:
FMT, Ho Kit Yen
SRC International is suing Najib Razak and Nik Faisal Ariff Kamil for wrongful receipt of company property and conspiring to convert it to their own use.
Kuala Lumpur: The directors of SRC International Sdn Bhd became frustrated with management staff for their failure to secure the return of a RM3.6 billion “investment” made overseas, the High Court heard today.
Former director Che Abdullah @ Rashidi Che Omar said the company’s then CEO, Nik Faisal Ariff Kamil, had assured the board that the purported investment could be withdrawn at any time.
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“We told them to bring it back at whatever cost. We got agitated when we realised we did not get back the money that was promised,” he said.
Abdullah was testifying in a civil suit brought by the company against former prime minister Najib Razak and Nik Faisal for wrongfully receiving company property, and dishonestly and wrongfully conspiring to convert it to their own use.
Asked by lawyer Farhan Shafee whether his client, Najib, had hindered the repatriation of funds sought by the board in any way, Abdullah replied in the negative.
The witness also claimed to be unaware why the company withdrew its lawsuit against him and denied initiating negotiations for the discontinuance of the suit against him.
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Abdullah was originally named as co-defendant alongside Najib, Nik Faisal and fellow former directors Shahrol Azral Ibrahim Halmi, Ismee Ismail, Azhar Osman Khairuddin and Suboh Yassin.
The company later dropped the case against Abdullah and three other directors. They were, however, reinstated by Najib as third parties.
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The hearing continues before Justice Ahmad Fairuz Zainol Abidin on May 20.
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