A former SRC International director testified he was unaware of RM42 million transferred to Najib Razak’s account, stating he only learned of it during investigations.

KUALA LUMPUR: A former director of SRC International Sdn Bhd has told the High Court he had no knowledge of a RM42 million transfer from the company to the personal bank account of Datuk Seri Najib Tun Razak.

Tan Sri Ismee Ismail, 61, said he only learned about the transaction after being called by authorities to assist in investigations into a loan from the Retirement Fund (Incorporated) or KWAP.

The RM42 million was part of a RM123 million sum borrowed by SRC from KWAP before being channelled to Najib’s account through Ihsan Perdana Sdn Bhd.

Ismee made these statements in his witness testimony at the trial of a RM42 million civil suit filed against Najib by SRC and its subsidiary, Gandingan Mentari Sdn Bhd.

He explained that he had resigned as a director of SRC on August 15, 2014, while the transfer in question allegedly took place between December 2014 and February 2015.

“I was not involved in any matter regarding the KWAP loan application,” Ismee said in his witness statement.

He added that in his opinion, Najib’s involvement pertained to the government guarantee for the loan, where Najib was both Prime Minister and Finance Minister at the time.

Ismee further stated that the SRC Board of Directors could not make decisions contradicting shareholder resolutions tabled by the Minister of Finance Incorporated.

“Any decision made or to be made by SRC is proposed and determined by its shareholders, namely the Minister of Finance Incorporated,” he said.

Commenting on Najib’s claim that the SRC Board should be held liable for breaching fiduciary duties, Ismee said the claim was completely baseless.

“I and other SRC board members carried out the instructions and decisions of the shareholders in good faith without suspecting any wrongdoing or crime,” he testified.

He emphasised that after his resignation, he had no authority to supervise SRC’s affairs or any subsequent transfers, including the RM42 million.

SRC and Gandingan Mentari, which filed the suit in 2021, are seeking a declaration that Najib is responsible for the RM42 million and are claiming damages for alleged knowing receipt, dishonest assistance, misfeasance in public office, and abuse of power.

The trial before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan continues.

 The Sun Malaysia