Ex-director to testify for SRC in civil suit against Najib

A former SRC International director is set to testify for the Minister of Finance Incorporated (MOF Inc) in its US$1.18 billion (RM5.5 billion) lawsuit against former prime minister Najib Abdul Razak.

Suboh Md Yassin was a prosecution witness in the RM42 million SRC corruption case against Najib, which resulted in the former finance minister serving a six-year jail sentence since late 2022.

Suboh's counsel Gurdial Singh Nijar informed the Kuala Lumpur High Court today that his client is prepared to take the witness stand in the civil case hearing against defendant Najib.

The lawyer told judge Fairuz Zainol Abidin that besides having a written witness statement as a witness for SRC, Suboh also has another one as a third party in the civil suit.

In 2021 when the lawsuit was filed against Najib, SRC which is wholly owned by MOF Inc, initially named Suboh among the defendants. MOF Inc later dropped Suboh from the civil action.

However, the civil court allowed Najib's bid to bring Suboh back into the lawsuit as a third party, to fully or partially reimburse the former SRC adviser emeritus if MOF Inc wins the action.

Adjournment request

During today's proceedings, Najib's counsel Muhammad Shafee Abdullah applied for the hearing to be cut short and adjourned to another date so his co-counsel Muhammad Farhan Muhammad Shafee could brief him on the case.

Shafee said that Farhan was in London for a family emergency and was supposed to fly back yesterday, but a flight delay caused the co-counsel to only return to Malaysia today.

"Most of the materials (for the hearing) are with Farhan and he is supposed to brief me on specific documents for the cross-examination (of Suboh).

“I propose that the cross-examination be undertaken on June 19 and 20, which had been earlier agreed on," Shafee added.

The judge granted the request and the hearing will resume on June 19.

Ex-SRC chairperson cross-examined

Before that, the SRC legal team cross-examined former SRC chairperson Ismee Ismail during the proceedings.

Ismee was also a third party brought into the civil action by Najib with the court's greenlight.

Under its new management, SRC filed the suit in May 2021, alleging that Najib, as adviser emeritus of the plaintiff, had committed breach of trust and abuse of power, personally benefited from the company’s funds, and misappropriated billions of ringgit.

SRC is also seeking a court declaration that Najib is responsible for its losses due to a purported breach of duties and trust, and for the former premier to repay RM42 million.

The plaintiff is also seeking a court order for Najib to be made accountable for the former’s US$1.18 billion loss, as well as repay US$120 million of funds that allegedly flowed into the former premier’s bank account.

The civil action against Najib is linked to the alleged misappropriation of part of RM4 billion - RM3.6 billion or US$1.18 billion in foreign exchange rates between 2011 and 2012 - in loans that the company received from Retirement Fund Incorporated (Kwap) between 2011 and 2012.

Kwap is a statutory body under the Finance Ministry.

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