Nothing to do with it, court told

KUALA LUMPUR: The former SRC International Sdn Bhd board chairman has denied that the company was behind the suggestion to change its ownership from 1Malaysia Development Bhd (1MDB) to Minister of Finance Incorporated (MOF Inc).

Tan Sri Ismee Ismail, 54, was steadfast in his testimony that the change of ownership was approved by then prime minister Datuk Seri Najib Razak through a directive from MOF Inc in February 2012.

The witness was testifying under cross-examination in the corruption trial of Najib here yesterday.

Najib’s lawyer Harvinderjit Singh had earlier shown Ismee SRC International’s board of directors meeting minutes in February 2012 before asking about the change of ownership in SRC International.

Ismee agreed with the prosecution’s suggestion that during the meeting, the CEO and managing director of SRC International Nik Faisal Ariff Kamil had informed the board of the directive to change the company’s ownership.

He said he was not informed on how the issue of ownership had come about.

Citing the minutes of the meeting, Harvinderjit suggested that there was a meeting between former Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop, who was also the head of the Economic Planning Unit, and SRC International on Jan 17, 2012.

Harvinderjit suggested that SRC International ordered for the change of ownership, to which the witness disagreed.

Ismee said Harvinderjit’s assumption was based on the implication of the letter, which he described as unfounded.

Najib is facing seven charges involving RM42mil in funds belonging to SRC International, formerly a subsidiary of 1MDB.

On July 4 last year, Najib claimed trial to a charge of abuse of power and three counts of criminal breach of trust linked to the 1MDB scandal.

He allegedly misappropriated RM42mil in funds belonging to SRC International.

On Aug 8 last year, he was charged with three counts of money laundering involving the same RM42mil.

The hearing before Justice Mohd Nazlan Mohd Ghazali continues on Monday.