: A former director of SRC International Sdn Bhd told the High Court here today that Datuk Seri Najib Abdul Razak had complete authority to make all decisions within SRC including the utilisation and distribution of the RM4 billion loan from Retirement Fund Inc ., 54, said all the important decisions involving such a colossal amount of money were made by Najib as he was the then Finance Minister, who held ultimate control over SRC through Minister of Finance Incorporated.
“I too was obliged under the law and by practice to comply and implement Datuk Seri Najib’s instructions,” he said in his witness statement in SRC International’s US$1.18 billion civil suit against the former prime minister and its former chief executive officer Nik Faisal Ariff Kamil, who is named as the first and second defendant.
Shahrol Azral said as KWAP was a statutory body established under the Retirement Fund Act, it is required to report directly to the Minister of Finance. “In respect of KWAP’s condition that government guarantee be provided for the said loan, in his capacity as the Prime Minister who chaired the Cabinet meeting where all the Cabinet ministers were appointed pursuant to his prerogative, Datuk Seri Najib has also caused the Cabinet to approve and issue the government guarantee for the KWAP loan,” he said, adding that Najib also expedited the disbursement of the RM4 billion loan to SRC.
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