KUALA LUMPUR — June 17, 2019: The former chairman of SRC International Sdn. Bhd. thinks that a former board member may have been cahoots with the chief executive to hoodwink the board when he spoke today about a deal between two companies that was not revealed to the board.
Under the deal, Gandingan Mentari would give RM140 million to Putra Perdana Construction to invest in South Africa and would entail a 70/30 profit split for Gandingan Mentari and the latter respectively.
Gandingan Mentari is a subsidiary of SRC International while Putra Perdana is a subsidiary of Putrajaya Perdana Berhad.
Former SRC International chairman Tan Sri Ismee Ismail agreed with the suggestion by Najib’s lawyer Harvinderjit Singh that former director Datuk Suboh Md. Yassin was complicit with Nik Faisal on this.
Ismee further agreed with Harvinderjit that the movements of the RM2 billion loan from the Retirement Fund Incorporated (KWAP) were also not informed to the board, constituting fraud. He replied to the lawyer that he did ask Suboh about this and was told Nik Faisal said “everything is okay”.
He also agreed with Harvinderjit’s suggestion that Nik Faisal was dishonest to the board on several matters pertaining to the company’s business.
During today’s trial Ismee also maintained that the board had to get the approval from former prime minister Datuk Seri Najib Razak for any decisions by the company.
Ismee said he was of the opinion that the hidden meanings of the word “advice” from Najib, who was advisor emeritus of SRC, as stated in SRC’s Memorandum and Articles of Association, would also include approval, a point rebutted by Harvinderjit who pointed out that there was nothing in writing to suggest that the board had to get Najib’s approval.
Najib faces three counts of criminal breach of trust, one charge of power abuse and three counts of money laundering involving SRC International funds totalling RM42 million.
Ismee also said he associated the word “government” with Najib, reports Bernama, to which Harvinderjit contended that a prime minister alone could not be reflected as the government as it involved a whole machinery.