KUALA LUMPUR – The application of former prime minister Datuk Seri Najib Razak for a stay of SRC International Sdn Bhd’s civil suit proceedings against him over alleged breach of trust and infringing statutory duty over the RM4 billion loan of Kumpulan Wang Persaraan Diperbadankan (KWAP) to SRC will be heard on December 3.
Counsel Muhammad Farhan Muhammad Shafee, who is representing Najib, said the application would be heard before high court judge Datuk Ahmad Fairuz Zainol Abidin.
“The stay of the case proceeding’s application notice had been filed yesterday.
“The application was made as my client (Najib) wants the criminal case involving SRC, now at the appeal stage, and the case involving the RM27 million in SRC funds, which has still not been heard, to be settled first," he said after case management before deputy registrar Suriani Ujang today.
On July 28, 2020, Najib was found guilty of seven charges involving criminal breach of trust, illegal money laundering, and abuse of power involving RM42 million of SRC International Sdn Bhd funds. The case is now being appealed at the Court of Appeal.
On May 7, SRC under its new management had begun legal action against Najib and several former directors, namely Datuk Suboh Md Yassin, Datuk Mohammed Azhar Osman Khairuddin, Nik Faisal Ariff Kamil, and Datuk Che Abdullah @ Rashidi Che Omar.
SRC, which is a subsidiary of 1Malaysia Development Bhd as the plaintiff, in its writ of summons alleged all the defendants abetted and committed breach of trust.
Najib was also accused of abusing his power and obtaining personal gratification from SRC funds, apart from misappropriating the funds.
He was SRC’s emeritus advisor from May 1, 2012 to March 4, 2019.
SRC, which is now fully owned by Ministry of Finance Incorporated, is seeking to declare that all the defendants were liable to pay the losses of the investment fund as a result of the use of the loan, in addition to claiming general damages, exemplary damages, additional damages, interest, costs, and other relief deemed appropriate by the court. – Bernama, October 21, 2021
