KUALA LUMPUR (June 25): Former prime minister Datuk Seri Najib Razak’s lawyer Tan Sri Muhammad Shafee Abdullah intends to recall former SRC International Sdn Bhd chairman Tan Sri Ismee Ismail to take the stand in the US$1.18 billion (RM5.58 billion) civil suit against Najib. 

Shafee informed presiding judge Datuk Ahmad Fairuz Zainol Abidin that he intends to put Ismee on the stand again, after the witness was released on June 13. 

SRC lawyer Kwan Will Sen informed the court that Ismee is currently overseas, and would be back this weekend. The judge then set July 29 as the next trial date for Ismee to take the stand. 

Earlier on Tuesday, Angela Barkhouse, the liquidator for SRC BVI owned by SRC, was taking the stand via online proceedings from the Cayman Islands, and verified that the US$1.18 billion in question was transferred from Malaysia to offshore accounts between 2011 and 2012. 

Barkhouse previously highlighted that US$864.4 million of the US$1.18 billion was transferred to, among others, Cistenique Investment Fund BV (US$357.5 million) between April 17, 2012 and April 3, 2014, while US$481 million was transferred to Enterprise Emerging Market Funds BV between Dec 23, 2011 and July 2 2012, and US$12.19 million to Pacific Rim Global Growth Ltd on Dec 20, 2013.

She previously said that none of these transactions were used for the intended purpose of investment in the energy and resources sector.

She also verified that US$120 million made its way to the former prime minister's account.

In November 2021, SRC obtained a judgement in default against former SRC managing director and ex-chief executive officer Nik Faisal Ariff Kamil, who was also named as a defendant in this suit.

Najib had pulled in several former SRC directors, namely Datuk Suboh Md Yassin, Datuk Shahrol Azral Ibrahim Halmi, Ismee, Datuk Mohammed Azhar Osman Khairuddin and Nik Faisal, as third-party respondents.

Initially, all of them were named as defendants in the suit, but were later dropped by SRC. 

SRC alleges that Najib had abused his power and obtained personal benefits from the company’s funds, as well as misappropriated the funds.

SRC wants a declaration from the court that Najib is liable for the company’s losses due to his breach of duties and trust, and for Najib to pay the US$1.18 billion in losses it had suffered, together with damages for breaches of duties and trust. SRC also wants an order for Najib to compensate the company for the US$120 million that allegedly went into his bank account.

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