Najib denies creating ‘Advisor Emeritus’ post in SRC International to tighten his control of the company

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TOKYO (Reuters) - British fintech firm Wise has won approval for direct access to Japan's bank payment clearing network, becoming the first foreign financial company to do so, it said on Thursday.

KUALA LUMPUR: Datuk Seri Najib Razak has denied creating the position ‘Advisor Emeritus’ in SRC International Sdn Bhd to tighten his purported control over the government-linked company, the High Court was told.

Najib was under cross-examination by SRC’s lawyer P. Gananathan in a lawsuit filed by SRC against him and former CEO Nik Faisal Ariff Kamil. “When I saw the wording , I mean, I've been the prime minister. For example, the overarching powers of the prime minister in the context of Petronas are even more overwhelming where I had direct control, I could override the board. There is no safeguard,” he said.

Gananathan: You are now introducing a further amendment which requires your prior approvals of the disclosure of sensitive information.Under new management, SRC filed the legal action in May 2021, alleging that Najib had committed breach of trust, abuse of power, misappropriated the company's funds and personally benefited from it.

 

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