The Star
The Star
  • 2 days ago
Datuk Seri Najib Razak has “certain regrets” over what happened to SRC International Sdn Bhd, a subsidiary of 1Malaysia Development Bhd (1MDB) that suffered losses in the billions of ringgit, the Kuala Lumpur High Court heard on Friday (Oct 18).

The former prime minister, however, maintained he had no knowledge of the funds channelled out of the company that subsequently landed in his bank account.

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00:00Datuk Sri Najib Tun Razak admitted at the Kuala Lumpur High Court on Friday that he
00:06has certain regrets over the losses facing SRC International's Sandirian Berhad.
00:12Najib, as the first defendant, said this when queried by SRC International's lawyer Kwan
00:18Wil Sen at SRC International's $1.18 billion civil suit against him and SRC former Chief
00:27Executive Officer Nik Faisal Arif Kamil, who is currently at large.
00:34To another question about the monies that went into his personal account from SRC International
00:38and Retirement Fund Inc., Najib maintained his testimony that he has no knowledge about
00:44it.
00:45In May 2021, under the new management, SRC filed the lawsuit accusing Najib of breach
00:53of trust, abuse of power, personally benefiting from the company's funds and misappropriating
00:59the said funds.
01:01SRC International previously removed five of its directors from the lawsuit, retaining
01:07Najib as the sole defendant.
01:10However, the High Court permitted Najib to issue third-party notices against them.
01:16The company is seeking a court declaration holding Najib accountable for the company's
01:21losses due to his alleged breach of duties and trust, and for him to compensate the 42
01:28million ringgit in losses they have incurred.
01:30The trial before Judge Datuk Ahmad Fairooz Zainul Abidin continues on October 21.

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