KUALA LUMPUR (Bernama): The trial of former prime minister Datuk Seri Najib Razak, who is facing seven charges involving SRC International Sdn Bhd’s funds totalling RM42mil entered its 18th day on May 15.
The following are highlights of the case and quotes of witnesses during the trial this week before High Court Judge Mohd Nazlan Mohd Ghazali.
May 14 (Tuesday):
Retirement Fund Incorporated (KWAP) vice-president (Legal and Secretarial Department) Azlida Mazni Arshad testified that some concerns were raised by KWAP investment panel members over the RM2bil loan requested by SRC International, a subsidiary of 1Malaysia Development Bhd (1MDB).
Azlida Mazni, 47, said the panel had raised six concerns as transpired in the investment papers presented by KWAP's then Fixed Income Department director (the late) Ahmad Norhisham Hassan.
Among the six concerns was that the RM2bil loan proposal was too large for a company with a paid-up capital of RM2.
“The panel also raised concern over the capability and credibility of SRC's management team to venture into the natural resources industry that requires high skills,” she said.
The 35th prosecution witness said the investment panel was aware of the risks associated with the proposed investment for KWAP, particularly on risk of payment, “over-concentration”, country and industry.
May 15 (Wednesday):
The High Court was told that Ihsan Perdana Sdn Bhd (IPSB) transferred RM42mil into two of Najib’s personal accounts without knowing that the accounts belonged to the former prime minister.
The company's managing director Dr Shamsul Anwar Sulaiman said Najib had never contacted him regarding the payment of RM27mil and RM5mil on Dec 26, 2014 and RM10mil on Feb 9, 2015.
“If I had known AmPrivate Banking-MY (account number 211202201880) belonged to Datuk Seri Najib Razak, I would not have made the payment of RM27mil,” he said when reading out his witness statement on the 18th day of Najib 's trial for alleged misappropriation of SRC International funds totalling RM42mil.
The 37th prosecution witness said he would not have deposited RM5mil in Najib's account numbering 2112022011906 and RM10mil into 211202201880 for the same reason.
He said IPSB had never made payment for corporate social responsibility (CSR) programmes to Najib's accounts and was uncertain whether the payment was for CSR purposes.
The witness reiterated that the RM42mil transfer was made because he was directed by Ung Su Ling (Yayasan Rakyat 1Malaysia or YR1M chief executive officer) and Dennis See (YR1M project director) where Ung and See instructed him to transfer the funds to the two accounts although he did not know who the owner was.
Dr Shamsul Anwar testified he only knew that the RM42mil was owned by SRC through Gandingan Mentari Sdn Bhd, a subsidiary of SRC, when he read articles posted on the Wall Street Journal website, while he was in Belgium between July 1 and 2, 2015.
He said he contacted Nik Faisal Ariff Kamil (SRC director) to ask about the RM42mil and he confirmed that SRC had transferred the money to the IPSB account through Gandingan Mentari.
Dr Shamsul Anwar, 58, said the IPSB account was also used to deposit a certain sum of funds in transit before being transferred to another account.
IPSB is a subsidiary that manages CSR programmes for SRC.
Former IPSB senior account executive Aishah Ghazali, 37, as the 36th prosecution witness, confirmed that three transactions on the deposit of RM42mil from IPSB were made into two AmIslamic Bank Bhd accounts belonging to Najib.
May 17 (Friday):
Ad hoc prosecutor Datuk V. Sithambaram told the High Court that the prosecution has completed 30% of its case and the court is expected to hear testimonies from 40 other prosecution witnesses.
To date, the prosecution has called 37 witnesses to testify in the trial that has been adjourned to May 28.
The court has fixed 39 days for the trial to recommence from May 28 to 29; June 10 to 14; June 17 to 21; July 1 to 3; and July 8 to Aug 15. – Bernama