CEO Morning Brief

Five Former SRC Directors Told to File Defence in Third-party Proceedings Brought by Najib

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Publish date: Tue, 19 Mar 2024, 05:19 PM
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TheEdge CEO Morning Brief

KUALA LUMPUR (March 18): The High Court here on Monday directed five former directors of SRC International Sdn Bhd to file their defence and other pleadings, in a bid by former prime minister Datuk Seri Najib Razak to make them third parties in a US$1.18 billion civil suit filed by SRC International against the former prime minister.

The five individuals are Datuk Suboh Md Yasin, Datuk Mohammed Azhar Osman Khairuddin, Datuk Shahrol Azral Ibrahim Halmi, Tan Sri Ismee Ismail and Datuk Che Abdullah @ Rashidi Che Omar.

At the same time, Judicial Commissioner (JC) Datuk Raja Ahmad Mohzanuddin Shah Raja Mokhzan wants SRC International and its subsidiary Gandingan Mentari Sdn Bhd to submit their list of witnesses in a separate RM42 million civil suit filed by the two companies against Najib.

Raja Ahmad Mohzanuddin fixed May 21 for case management.

The development came up following case management before the judicial commissioner on Monday.

When contacted by The Edge, the outcome was confirmed by SRC International’s counsel Kwan Will Sen of Lim Chee Wee Partnership.

SRC International and Gandingan Mentari’s suit against Najib is one of the 16 filed by the company in its legal action to recover funds. This suit is separate from the US$1.18 billion filed at the Commercial High Court, where the trial commenced this month.

The former prime minister is serving his 12-year jail and RM210 million in fines sentence, which has been reduced to six years of jail and RM50 million in fines since Aug 23, 2022, after being found guilty by the Federal Court to all seven charges in relation to SRC International.

Najib also has a separate asset freezing order (Mareva injunction) to a value of RM42 million imposed on him by the High Court and upheld by the Federal Court on Oct 5, 2023.

Read also:
Apex court upholds RM42m asset freeze order against Najib

SRC claims US$120 mil out of RM4b KWAP loan went to Najib

Source: TheEdge - 19 Mar 2024

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