KUALA LUMPUR: The High Court here today was told of a surprising fact - that one of SRC International Sdn Bhd’s bank accounts only had RM264 in its balance, contradicting its chief executive officer (CEO) Nik Faisal Ariff Kamil’s claim that the account still had RM16 million.
Former non-executive director of SRC International Sdn Bhd, Datuk Suboh Md Yassin, 68, agreed to this after he was shown documents to an account ending 650 by former prime minister Datuk Seri Najib Abdul Razak’s lawyer, Harvinderjit Singh.
Harvinderjit said there was only RM264 left in the balance as of Feb 28, 2012 and Suboh was a signatory of the account.
However, another entry on Feb 29, 2012 for a ‘mystery’ account ending 736 stated there was a balance of RM17,808.60.
The 42nd prosecution witness acknowledged the latter during cross-examination by Harvinderjit on the 32nd day of Najib’s trial relating to misappropriation of RM42 million of SRC funds.
In a previous proceeding, former SRC International board chairman Tan Sri Ismee Ismail testified that Nik Faisal once told a board meeting that SRC International had RM16 million to spend in its account.
Harvinderjit: So the money for purported investments, invested in joint venture with Aabar Investments, shares in Gobi Coal and Energy Limited and millions in Julius Baer bank in Hong Kong, whether any of this money at this point time was in the bank you are not sure?
Suboh: Yes.
Nevertheless, added Suboh, other directors of SRC could have transferred the money out without his knowledge.
Meanwhile, the key witness also agreed to Harvinderjit’s suggestion that taking three months to open a second SRC account was too long.
The lawyer also referred to two Director’s Circular Resolutions (DCR) dated Aug 23, 2011 for an account for SRC to be opened but the resolution was only executed three months later in November 2011.
Harvinderjit: Looking at this folder, these two DCRs talked about opening up an account in August but it was only opened later that year, why the delay Datuk doesn’t know?
Suboh: No.
Harvinderjit: I believe you have not seen the statement for this account?
Suboh: No.
To another question whether he was aware that 1MDB had at a certain point in time asked for a loan of RM3.95 billion to set up SRC, the witness replied he was not familiar with the request.
The trial before Justice Mohd Nazlan Mohd Ghazali continues on July 8. — Bernama
