: A former board member of SRC International Sdn Bhd has refuted claims made by Datuk Seri Najib Abdul Razak that the losses incurred by the company were a result of various acts and omissions by its former directors.
“My specific task when joining SRC was to execute and get the Sabah Gas Pipeline Project and the Peninsular Pipeline Project going, which were two out of the three identified oil and gas projects in my role as CEO,” said the witness, who is testifying as the third party in SRC International’s US$1.18 billion civil suit against the former prime minister.
“Myself and other members of the Board directed Nik Faisal and management to develop a plan to recover the funds. That was all I could do, given that the loans from the Retirement Fund Inc were disbursed by SRC before my tenure as a director,“ he said in his witness statement.Mohammed Azhar said that during a board of directors’ meeting on April 28, 2015, Nik Faisal briefed the board, stating that the funds deposited in BSI Bank were securely invested.
SRC, under its new management, filed the suit in May 2021, claiming that Najib had committed breach of trust and power abuse, personally benefited from the company’s funds, and misappropriated the said funds.