Kuala lumpur: A former director of SRC International Sdn Bhd told the High Court here today that he had no knowledge of the transfer of RM42 million from the company to the personal bank account of Datuk Seri Najib Tun Razak. The RM42 million was part of the RM123 million borrowed by SRC from the Retirement Fund (Incorporated) (KWAP), before being channeled to Najib's account through Ihsan Perdana Sdn Bhd, the company that manages the corporate social responsibility programme for SRC.

According to BERNAMA News Agency, Tan Sri Ismee Ismail, 61, stated that he was not informed about the transaction and only learned about it after being called by the authorities to assist in investigations into the KWAP loan. He made this statement during the trial of the RM42 million civil suit filed against Najib by SRC and its subsidiary, Gandingan Mentari Sdn Bhd.

Ismee explained that he resigned as a director of SRC on August 15, 2014, while the transfer occurred between December 2014 and February 2015. He mentioned that he was not involved in the KWAP loan application, which was made and approved before his tenure as a director. He asserted that Najib's involvement in the matter was related to the government guarantee, as he was the Prime Minister and Minister of Finance at the time.

Furthermore, Ismee clarified that the SRC Board of Directors cannot oppose shareholders' resolutions, which include decisions from the Minister of Finance Incorporated, where Najib played a crucial role. He emphasized that the board was tasked with approving resolutions set by the shareholders.

Addressing Najib's claim that the SRC Board of Directors should be liable for breaching fiduciary duties, Ismee refuted the claim, stating that board members acted in good faith based on the government's intention to pursue national interest investments through SRC as a "special purpose vehicle." He asserted that he had no authority over SRC's affairs after his resignation, including the alleged RM42 million transfer.

SRC and Gandingan Mentari, which filed the suit in 2021, seek a declaration holding Najib accountable for the RM42 million and damages for alleged knowing receipt, dishonest assistance, misfeasance in public office, and abuse of power. The trial continues tomorrow before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan.