Kuala Lumpur: A former SRC International Sdn Bhd director told the High Court that former prime minister Najib Razak had no basis to blame him for losses suffered by the company.
Che Abdullah @ Rashidi Che Omar said the decision to “invest” a sum of RM3.6 billion in a joint venture with Aabar was made by Najib and not the board of directors. Najib, in his capacity as finance minister at the time, was SRC International’s sole shareholder.Between 2011 and 2012, SRC International received a loan of RM4 billion from Retirement Fund Incorporated , from which approximately RM3.6 billion was transferred to a Swiss bank account.
SPONSORED CONTENT Electrifying windows of opportunity in Sabah - The right policies, collaborations, and strategies can turn emerging opportunities into victories for all parties in Sabah.
SRC International later dropped the case against them. However, they were added as third parties by Najib.Abdullah told the court Najib, who was appointed advisor emeritus, was given “very wide powers” under the company’s constitution. He said in normal companies, all decisions were taken by the board of directors and would be presented to shareholders at its annual general meeting.Under cross-examination by Najib’s lawyer Farhan Shafee, Abdullah admitted that the directors of SRC International were legally bound to make decisions in the company’s interests.
News Newspaper Headlines Malaysia Borneo Local National Business Sport Mobile
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In gathering of Najib loyalists, Zahid hints at 'another way' to free Najib besides the courtKUALA LUMPUR, May 5 — Umno president Datuk Seri Ahmad Zahid Hamidi today vowed to keep his promise to free his former boss Datuk Seri Najib Razak, saying that there is...
Read more »
Kelab Sahabat Najib 87 seeks full royal pardon for Najib RazakTheir parenting styles have left deep emotional scars, compounded by their disapproval of my hobbies and career aspirations. My mother's controlling behaviour really affected my sense of self-worth and individuality.
Read more »
JPJ Wangsa Maju Office In Kuala Lumpur Remains Open Despite Roof LeakDespite the viral video, the public can still visit JPJ Wangsa Maju and conduct their business without worrying about the building's condition.
Read more »
Kuala Kubu Baru by-election: MyPPP advises Indian community to choose candidate wiselyHULU SELANGOR, May 6 — The Indian community has been advised to choose a candidate who can ensure their well-being in the Kuala Kubu Baru (KKB) state by-election on May...
Read more »
PRK Kuala Kubu Baharu: 99 peratus tentera keluar mengundiHULU SELANGOR: Pengundian dalam kalangan pegawai dan anggota tentera pada Pilihan Raya Kecil (PRK) Kuala Kubu Baharu di Rejimen Semboyan Divisyen Keempat Infantri Kem Erskine, hari ini mencapai 99 peratus.
Read more »
Rhinos edge Kuala Lumpur to clinch Sabah Maju Jaya CupKota Kinabalu: Sabah FC edged KL City FC 1-0 in the final to win the Sabah Maju Jaya Cup at Likas Stadium on Sunday.
Read more »