KUALA LUMPUR: Former prime minister Datuk Seri Najib Tun Razak testified in the High Court today that he had no control over the movement or use of RM...
: Former prime minister Datuk Seri Najib Tun Razak testified in the High Court today that he had no control over the movement or use of RM3.6 billion in funds from SRC International Sdn Bhd, which the strategic investment company received in two tranches from Retirement Fund Incorporated.
“Particularly, I played no role in the events concerning the earmarking and eventual approval of the purported investment and the funds. By virtue of my positions, I have no trust or fiduciary obligation over the proposed investment and the funds utilised for it. I also have no oversight nor control of the disbursement of the funds,“ said Najib.
“The power to hire or remove any director is usually in the hands of the shareholders of a company. As I understand corporate governance principles, this does not detract from the directors statutory and legal duties to act in the best interests of the company.
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