KUALA LUMPUR: Former SRC International Sdn Bhd director Tan Sri Ismee Ismail denied at the High Court here today that he was a ‘puppet’ of Datuk Seri Najib Tun Razak in executing the company’s investment strategy.
Ismee, 59, who was appointed by Najib, however, made it clear that he did not have the former premier’s personal phone number and never met Najib to discuss the company’s matters during his tenure with SRC International.
He said this when queried by Najib’s counsel, Harvinderjit Singh during SRC International’s US$1.18 billion civil suit against Najib and the former chief executive officer of the company, Nik Faisal Ariff Kamil, who absconded from the country in 2018.
Harvinderjit: Whatever he (Najib) told you, you don’t question it, you just follow and this was the case in the SRC? Ismee replied, “I dont think so”.
Harvinderjit: Do you have his (Najib’s) personal phone number? Ismee: No.
Meanwhile, in his witness statement that was tendered in the court today, Ismee clarified that the transfer of loan amounting to RM3.6 billion from the Retirement Fund Group (Incorporated) (KWAP) to SRC BVI, a subsidiary of SRC International was a decision made by Najib through a shareholder resolution.
This was because Najib was the sole shareholder and emeritus advisor of SRC International.
For the record, SRC International took a loan of RM4 billion from KWAP between 2011 and 2012, out of which RM3.6 billion was transferred to a Swiss bank account that is currently frozen by the Swiss authorities.
SRC International previously removed five of its directors from the lawsuit including Ismee, retaining Najib as the sole defendant, however, the High Court later granted Najib permission to issue third-party notices against them.
Under the new management, SRC filed the suit in May 2021 claiming that Najib had committed a breach of trust and abuse of power, personally benefited from the company’s funds and misappropriated the same.
It is seeking a court declaration that Najib is responsible for the company’s losses due to his breach of duties and trust and for him to compensate the RM42 million in losses they have incurred.
The trial before Judge Datuk Ahmad Fairuz Zainol Abidin continues tomorrow.
