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SRC board of directors never told about RM2 billion in ‘mystery’ account – Ismee

KUALA LUMPUR, The High Court here today was told that the SRC International Sdn Bhd board of directors was never told the RM2 billion loan facility obtained from Kumpulan Wang Persaraan (KWAP) was credited into a ‘mystery’ SRC bank account and later debited out on the same day.

Former chairman of SRC International board of directors Tan Sri Ismee Ismail, 54, looked stunned when questioned about the money by former prime minister Datuk Seri Najib Razak’s defence counsel, Harvinderjit Singh.

Ismee, the 39th prosecution witness, admitted the board was not aware of the ‘other’ active SRC bank account opened at AmBank with account number ending 736 and also said that the board had no control over it.

Harvinderjit: This Datuk Shahrol Azral Ibrahim Halmi (1Malaysia Development Berhad) former chief executive officer, he signed the opening form of the 736 account and his name is also there in the group signatories?

Ismee: Yes

Harvinderjit: In your dealings with Shahrol Azral do you know about this (group signatories) to the 736 account?

Ismee: No

Harvinderjit: So it is shocking to you too?

Ismee: Yes

At some point when cross-examined by Harvinderjit, the witness asked the lawyer who were the signatories for 736’s account and the lawyer replied it was four people including Shahrol Azral and SRC CEO Nik Faisal Ariff Kamil.

Harvinderjit: We are moving to a more serious transgression here. The board was never told about the drawdown to move RM2 billion to the 736 account and it was not even aware of.

Ismee: It appears so.

Harvinderjit: I can see that Tan Sri (Ismee) is disturbed, but it is what it is.

Harvinderjit pointed out at the entries for August 2011 (in the AmBank account’s statement) under the name of SRC International, where a RM2 billion amount in four tranches of RM500 million each was credited into the account on Aug 29, 2011.

“This is serious, that on the same day, the entire RM2 billion was also debited out,” said Harvinderjit, to which Ismee replied that the board had no control over the account as they were not aware of it.

Harvinderjit: This 736 account, throughout the time you were a chairman, was never under the control of the board?

Ismee: Yes.

Harvinderjit: If the board didn’t know about it, it couldn’t be under the control of the board, correct?

Ismee: Yes.

The witness also agreed to Harvinderjit’s suggestion that by not disclosing the existence of the account, the board’s control on the account was effectively bypassed.

To another transaction in the bank’s statement, Harvinderjit pointed out a Aug 15, 2011 entry, where RM15 million was debited from the same 736 account.

Harvinderjit: Are you aware of the RM15 million?

Ismee: It’s a launching grant (given by the government to SRC)

Harvinderjit: But Nik Faisal told the board of directors during the meeting the launching grant has not been credited into the account?

Ismee: Yes.

To this the witness agreed to Harvinderjit’s suggestion that Nik Faisal was dishonest when he told the board on Aug 23, 2011 that the RM20 million was untouched.

Yesterday, Ismee had told that court that the government had given a RM20 million launching grant to SRC.

Najib, 66, faces three counts of criminal breach of trust, one charge of power abuse and three counts of money laundering involving SRC International funds totalling RM42 million.

The trial before High Court Judge Mohd Nazlan Mohd Ghazali continues tomorrow.

Source: BERNAMA (News Agency)

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