KUALA LUMPUR, June 5 — A former director of SRC International Sdn Bhd said today its board had executed shareholder orders “in good faith” and without suspicion, as these...
Tan Sri Ismee Ismail consequently said Datuk Seri Najib Razak ’s claim of lacking any authority to decide or involve himself on behalf of SRC International is absolutely untrue and inaccurate based on what had transpired. — Bernama picKUALA LUMPUR, June 5 — A former director of SRC International Sdn Bhd said today its board had executed shareholder orders “in good faith” and without suspicion, as these were construed as the federal government’s intent to invest for national interest.
Najib, who was also the finance minister at the time, was SRC International’s sole and exclusive shareholder by way of Minister of Finance .He was also SRC International’s adviser emeritus whose authority cannot be challenged by the board of directors in the company’s administrative structure as stipulated by the company’s Memorandum and Articles of Association .
Evidence before the court showed that US$1.18 billion was transferred out of SRC International Limited’s into various intermediaries between December 2011 and April 2014. “In fact, I was not given any authority to supervise the administration of SRC BVI whereby it was established without my knowledge and involvement as well,” he said.
SRC, under its new management, sued Najib and its former directors Datuk Suboh Md Yassin, Datuk Mohammed Azhar Osman Khairuddin, Nik Faisal Ariff Kamil, Datuk Che Abdullah @ Rashidi Che Omar, Datuk Shahrol Azral Ibrahim Halmi, and Ismee in May 2021.Additionally, Najib has brought the former named SRC International directors as third-party respondents.
Najib Razak Court SRC International Sdn Bhd Ismee Ismail
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