KUALA LUMPUR: The High Court here today was told that the board of directors of SRC International Sdn Bhd consisted of a group of professionals and not those who Datuk Seri Najib Tun Razak can boss around.
Former director of SRC International Sdn Bhd Tan Sri Ismee Ismail, 59, agreed to a suggestion by Najib’s lead counsel Tan Sri Muhammad Shafee Abdullah that the company’s former chief executive officer Nik Faisal Ariff Kamil was a chartered accountant from a good family background.
Ismee is testifying as a third-party respondent in SRC International’s US$1.18 billion civil suit against Najib and Nik Faisal, who is currently at large.
Ismee also agreed to a suggestion from Muhammad Shafee that Najib didn’t know any of the board members personally and did not hire ‘puppets’ to be on the board despite having the sole power to appoint anyone as a director according to Article 117 of SRC’s Memorandum and Articles.
Muhammad Shafee: If Najib wanted the board to be the puppets where he is the puppet master, he would not have chosen such qualified members who have their own brains and high qualifications. Is that a fair statement?
Ismee: Yes, it is a fair statement.
The trial before Judge Datuk Ahmad Fairuz Zainol Abidin resumes on Sept 17 with Najib set to testify.
Under the new management, SRC International 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.
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.
The company 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.
