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No interviews conducted with SRC’s directors over company’s transactions: witness | Scoop
SRC International is seeking a court declaration that former prime minister Datuk Seri Najib Razak is responsible for the company’s losses due to his breach of duties and trust and that they demand he pay back RM42 million in losses. – Azim Rahman/Scoop pic, March 13, 2024
News

No interviews conducted with SRC’s directors over company’s transactions: witness

SRC, under new management, claimed Najib had committed a breach of trust and power abuse, among other charges

Bernama
Updated
6:31 PM MYT

 

KUALA LUMPUR – A liquidator for SRC BVI – a subsidiary of SRC International Sdn Bhd – told the high court today that she did not interview any directors of SRC International pertaining to the company’s transactions.

Angela Barkhouse, the second witness to testify in SRC International’s US$1.18 billion (RM5.53 billion) civil suit against former prime minister Datuk Seri Najib Razak, said she basically referred to bank documents that were given to her mainly from PriceWaterhouseCoopers (PWC).

Barkhouse, who testified online from the British Virgin Islands, said this when queried by Najib’s counsel Harvinderjit Singh, before judge Datuk Ahmad Fairuz Zainol Abidin.

The former directors of SRC International were Datuk Suboh Md Yassin, Datuk Mohammed Azhar Osman Khairuddin, Nik Faisal Ariff Kamil, Datuk Che Abdullah @ Rashidi Che Omar, Datuk Shahrol Azral Ibrahim Halmi and Tan Sri Ismee Ismail.

Barkhouse, who is a managing director of Quantuma International, yesterday testified that she could not confirm which of the possible SRC International or SRC BVI directors had dealt with international banks to make the questionable transfer of the fiduciary funds that were not used for their intended purpose.

Yesterday, she told the court that a company linked to fugitive businessman Jho Low, which received US$15 million from SRC BVI, had transferred out the funds to several prominent individuals including the son of a former Mongolian prime minister and a politician in 2011.

Harvinderjit: Do you think Jho Low’s hands are behind these transactions? 

Barkhouse: Not sure if he is the individual who controlled everything.

Harvinderjit: Are you aware that a former BSI banker in Singapore was charged for abetting Jho Low in forgery documents to facilitate bank transactions?

Barkhouse: Yes, I’m aware.

SRC, under its new management, filed the suit in May 2021, claiming that Najib had committed a breach of trust and power abuse, personally benefited from the company’s funds, and misappropriated the said funds.

The company is seeking general, exemplary and additional damages, as well as interest, costs and other appropriate relief provided by the court. 

It is also seeking a court declaration that Najib is responsible for the company’s losses due to his breach of duties and trust and that they demand Najib to pay back the RM42 million in losses they suffered. 

Najib, 70, has been serving a jail sentence at the Kajang Prison since August 23, 2022, after being convicted of misappropriating RM42 million in SRC International funds.

He then filed a petition for a Royal pardon on September 2, 2022, and the Pardons Board on January 29 reduced Najib’s jail term from 12 years to six, with the fine cut to RM50 million from RM210 million.

The trial continues tomorrow. – March 13, 2024

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