KUALA LUMPUR: Datuk Seri Najib Tun Razak told the High Court here today that he had greenlighted an application letter from former SRC International S...
: Datuk Seri Najib Tun Razak told the High Court here today that he had greenlighted an application letter from former SRC International Sdn Bhd chief executive officer Nik Faisal Ariff Kamil for RM3.95 billion loan to ensure the company had sufficient funds to pursue its investments in the energy and natural resources sectors.
Najib, 71, who was under cross-examination, disagreed with the SRC’s counsel P. Gananathan’s suggestion that Nik Faisal deliberately addressed the loan application letter dated June 3, 2011, to him, rather than to KWAP to lend it more weight and secure his backing as both the prime minister and finance minister at the time.
Gananathan: The SRC board of directors had not been fully constituted when you were undertaking this task of putting your notation to KWAP?Gananathan: You would agree with me that this is a matter for the BOD to do but you are getting involved in matters involving the BOD.Najib said the BOD still had a role to play as he only secured the financing for SRC but that did not absolve SRC’s BOD from their responsibilities into looking into the investments.
In May 2021, under the new management, SRC filed the lawsuit, accusing Najib of breach of trust, abuse of power, personally benefiting from the company’s funds and misappropriating the said funds.
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