KUALA LUMPUR: The High Court here was today told that Datuk Seri Najib Tun Razak was the shadow director of SRC International Sdn Bhd and was personally and directly involved in handing out cheques worth RM16 million and RM3.5 million to UMNO and Selangor UMNO.
Lawyer Razlan Hadri Zulkifli, representing SRC and its subsidiaries, Gandingan Mentari Sdn Bhd and Jendela Pinggiran Sdn Bhd, when reading out the opening statement said, the monies received by the defendants (UMNO and Selangor UMNO) were through cheques issued by Jendela Pinggiran.
He said the directors and authorised signatories of Jendela Pinggiran issued blank cheques, given carte blanche” to Datuk Seri Najib, who then handed the cheques over to the two defendants.
“Evidence will show that Datuk Seri Najib was the shadow director of SRC and his knowledge of the source of funds and the manner of its use or abuse will be imputed on the defendants. The evidence will also demonstrate that Datuk Seri Najib wears ‘two hats’ in the circumstances of this case.
“On one hand, Najib is the Advisor Emeritus (shadow director) of SRC, Gandingan Mentari and Jendela Pinggiran. He is also the president of the defendants (UMNO and Selangor UMNO),” he said during the first-day trial of the suit filed by SRC and its two subsidiaries against UMNO and Selangor UMNO in May 2021.
The hearing was before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan.
In the lawsuit against UMNO, the plaintiffs are seeking RM16 million, which they claim was wrongfully transferred to the political party, asserting that UMNO had no basis to receive the funds.
The second lawsuit involves a claim for RM3.5 million against Badan Perhubungan UMNO Selangor (Selangor UMNO), which is also alleged to have received the funds.
According to Razlan Hadri, the monies flow from the Kumpulan Wang Amanah Pencen (KWAP) Loans granted in 2011 and 2012 amounting to a total of RM4 billion to SRC.
“Out of the RM4 billion received from the KWAP loans, RM3.6 billion was transferred out to SRC’s foreign subsidiary incorporated in the British Virgin Islands, namely SRC International (Malaysia) Ltd in 2011 and 2012 for SRC to undertake foreign investment activities in the energy and resources sector.
“The remaining RM400 million was retained by SRC in Malaysia for working capital requirements in Malaysia. Our case today is about the RM400 million ‘working capital’ sum,“ he said.
The first witness called in the trial today was Prokhas Sdn Bhd Deputy General Manager Saiful Nizam Yassin, 54, who is the SRC, Jendela Pinggiran and Gandingan Mentari’s company secretary at the material time.
The trial proceeded today after both parties failed to reach a settlement.
Lawyer Mohamed Shahrul Fazli Kamarulzaman represented UMNO and Datuk Hasnal Rezua Merican, Muzzammil Merican Hasnal Rezua represented UMNO Selangor.
