Former Malaysian Prime Minister Najib Razak testified in court that he lacked control over the movement and utilization of funds from SRC International Sdn Bhd. He stated that his role was limited to ratifying decisions made by the board of directors, who were responsible for due diligence.
KUALA LUMPUR: The High Court here heard that Datuk Seri Najib Razak did not have control over the movement and utilisation of funds from the SRC International Sdn Bhd funds.
"This is solely within the ambit of the board of directors and I was never informed of nor was I able to carry out an independent verification of the disbursement of the SRC funds," said Najib. 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.
Najib Razak SRC International Malaysian Prime Minister Court Testimony Corporate Governance
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