Najib betrayed public's trust, SRC International wants RM42 million back
15 Aug 2025 01:40pm
The High Court here was told today that former Prime Minister Datuk Seri Najib Tun Razak betrayed the public's trust by misusing SRC International Sdn Bhd's RM42 million that were meant to benefit Malaysia's energy future and civil service pensioners.
KUALA LUMPUR - The High Court here was told today that former Prime Minister Datuk Seri Najib Razak betrayed the public's trust by misusing SRC International Sdn Bhd's RM42 million that were meant to benefit Malaysia's energy future and civil service pensioners.
Counsel Kwan Will Sen, representing SRC International and its subsidiary, Gandingan Mentari Sdn Bhd, in the RM42 million civil suit against Najib, stated that it has been ten years since the money ended up in Najib's personal accounts and now, the two companies want it back.
He made these remarks while delivering the opening statement on the first day of trial in the civil suit filed in May 2022 by SRC International and Gandingan Mentari against Najib (the sole defendant).
"Three courts namely the High Court, Court of Appeal and Federal Court, have already found him (Najib) criminally guilty of these very acts beyond a reasonable doubt.
"Najib was the Finance Minister at the time and had full control over SRC International. He held key positions, including that of Advisor Emeritus. As such, no significant transaction occurred without his knowledge or consent,' he said.
Kwan also stated that the evidence will prove that the RM42 million was transferred from SRC International and ultimately ended up in Najib's personal bank accounts. Of this sum, RM32 million was immediately transferred to two companies that had previously covered shortfalls in Najib's accounts.
"These transfers were made pursuant to instruction letters bearing his (Najib) personal signature. The remaining RM10 million was spent through personal cheques issued by Najib himself,' he said.
"We say that the money trail is clear, the documentary evidence is overwhelming, and Najib's own sworn admissions are damning. We will prove our case under three complementary causes of action; knowing receipt, dishonest assistance, and misfeasance in public office.
"On any of these grounds, justice demands that these public funds be returned to their rightful owners - the Malaysian people,' he insisted.
The court today heard testimony of the first witness, former chief executive officer (CEO) of Yayasan Rakyat 1Malaysia (YR1M), Ung Su Ling, 57, whose appointment was approved by Najib.
The hearing before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan will continue on Nov 6.
This lawsuit, filed in May 2022, accuses Najib of breach of fiduciary duties, knowing receipt of funds, dishonest assistance, tort of misfeasance and abuse of power in relation to the misappropriation of SRC International funds. - BERNAMA
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