Najib had absolute power in SRC, High Court hears

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak wields absolute power in decision-making when it comes to SRC International Sdn Bhd, including the utilisation and disbursement of a RM4bil loan from the Retirement Fund Inc , the High Court heard on Tuesday .

"Najib has absolute power to make all decisions pertaining to the direction, business, administration, and operations of the plaintiff , including how the RM4bil fund from the KWAP loan will be utilised and disbursed," he said. "As a mere director and just one of the many directors of the board, I do not have the power to make any decision with respect to the said RM4bil loan from KWAP," he added.

Under new management, SRC filed the legal action in May 2021, alleging that Najib had committed breach of trust, abuse of power, misappropriated the company's funds and personally benefited from it. Additionally, Najib has brought the former named SRC International directors as third-party respondents in the suit.The company is seeking damages, interests, costs and a court declaration that Najib is responsible for the company’s losses due to his breach of duties and trust, and is demanding that Najib pay back the US$1.18bil in losses that it has suffered.

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