KUALA LUMPUR — June 14, 2019: Former SRC International chairman Tan Sri Ismee Ismail testified today that the proposal to change its ownership from 1Malaysia Development Berhad to the Minister of Finance (Inc.) was not mooted by the company and was approved by Datuk Seri Najib Razak in February 2012 in his capacity as finance minister.
But Najib’s lawyer Harvinderjit Singh also referred to minutes of a board meeting where it was stated that the company’s CEO and managing director Nik Faisal Ariff Kamil had told the board regarding instructions to change the ownership.
Ismee admitted that apart from what was disclosed in the minutes, he was not told how the issue of changing ownership arose.
Harvinderjit further referred Ismee to a letter on a meeting between SRC and former minister Tan Sri Nor Mohamed Yakcop who also headed the Economic Planning Unit, in which it was stated SRC had instructed the change of ownership but Ismee disagreed.
Ismee however agreed that Najib was never a signatory of the SRC’s bank accounts and thus could not have been directly involved in disbursing RM1.8 billion for overseas investments.
Harvinderjit later informed the court that the defence would decide later whether to challenge the alleged contradictions in Ismee’s testimony and his witness statement.
Yesterday, the trial was cut short as the defence team wanted to scrutinise the court recording transcriptions after Ismee testified that the board had followed the resolutions of the shareholders while in his written statement he said the board had followed the advice of Najib as advisor emeritus of SRC.
Najib faces three counts of criminal breach of trust, one charge of abusing his position and three counts of money laundering involving SRC International funds amounting to RM42 million.
The hearing continues on Monday. — Bernama