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Barnama
28-07-2025
- Politics
- Barnama
RM16 Mln Was A Donation, Not Linked To Any Breach Of Trust - UMNO's Counsel
KUALA LUMPUR, July 28 (Bernama) -- The High Court here was told today that UMNO had no knowledge that the RM16 million it received from Jendela Pinggiran Sdn Bhd (JPSB) could be traced to any breach of duty or trust. UMNO's counsel, Mohamed Shahrul Fazli Kamarulzaman, submitted that the party received the said sum as donations and contributions. 'No evidence that the plaintiffs only knew of the RM16 million sum was disbursed due to breach of duty or trust by their former directors sometime in 2019. 'UMNO at all times was a bona fide recipient of the RM16 million sum and the said sum has been spent and utilised by UMNO in activities and programmes that were corporate social responsibility (CSR) in nature,' he said. The counsel made the submission during the hearing of a lawsuit filed by SRC International Sdn Bhd and its two subsidiaries - Gandingan Mentari Sdn Bhd (GMSB) and Jendela Pinggiran Sdn Bhd (JPSB) - against UMNO and Selangor UMNO. Mohamed Shahrul Fazli also submitted that there is no evidence to show that former Prime Minister Datuk Seri Najib Tun Razak, as the Advisor Emeritus of SRC at that time, had instructed the Board of SRC, GMSB or JPSB to disburse the RM16 million sum to UMNO. 'The evidence only shows that the Board of SRC hold the ultimate decision-making authority for the management of business to fulfil SRC's objectives. 'It is clear that Datuk Seri Najib cannot, in essence or substance, be construed as a shadow director of the plaintiffs or their directing mind and will. At all times, Datuk Seri Najib's roles in the plaintiffs were due to his official capacity and subject to SRC's Articles of Association,' he added. Meanwhile, SRC's counsel Razlan Hadri Zulkifli submitted that there are no contemporaneous documents from JPSB or SRC to explain the transfer of RM16 million to UMNO.
New Straits Times
06-05-2025
- Business
- New Straits Times
1MDB maliciously filed lawsuit against me
KUALA LUMPUR: Former 1Malaysia Development Bhd (1MDB) chairman Tan Sri Mohd Irwan Serigar Abdullah told the High Court here today that the sovereign wealth fund had bad intentions when it filed the lawsuit against him in May 2021. Mohd Irwan said this was because he was a senior and high-ranking civil servant, holding the post of secretary general in the Finance Ministry, while at that time Datuk Seri Najib Tun Razak was the prime minister and also the Minister of Finance. "1MDB's main target was Datuk Seri Najib. "However, they wanted to blame someone other than Datuk Seri Najib, and I was an easy target because of my position as the secretary-general of the Finance Ministry. "1MDB also wanted to sensationalise their case by falsely alleging that I was aligned to Datuk Seri Najib and his alleged wrongdoings and that I, somehow, conspired or colluded with Datuk Seri Najib in failing in my duties and responsibility to take the relevant steps to investigate the wrongdoers," he said. Mohd Irwan said this in his witness statement when testifying as the second defendant during the hearing of the USD6.59 billion lawsuit filed by 1MDB, as plaintiff, against him and former 1MDB chief executive officer Arul Kanda Kandasamy for breach of trust and conspiracy. Mohd Irwan, who was former Treasury secretary-general said the filing of the suit was also clearly selective prosecution and done only to bring disrepute against him. He said this was clear as he had resigned in 2018 and it was only three years later in 2021 when the then government had changed hands after the 14th General Election, was this action filed against him. He said that at no point in time from May 2018 till May 2021 was a demand issued against him or was he asked to answer any allegations or given a chance to explain matters belatedly raised against him. "Their conduct of bad faith is further shown when they filed this claim for alleged breach of duties as member of the board but yet, chose not to include the remaining members of the board at that material time namely Datuk Kamal Mohd Ali and Datuk Seri Norazman Ayob despite being aware that all decisions were collective decisions and none of the allegations made was a decision that I made on my own accord or attempted to push through without the consensus and approval of the entire board," he said. Mohd Irwan said as a result of the lawsuit, he lost his reputation and his credibility had been tarnished. "I am subject to ridicule and having to defend myself constantly. As a result, it is very difficult for me to continue to hold certain directorships as people are sceptical and weary of the allegations that have been made against me. "Apart from that, I had to incur legal expenses in appointing solicitors to defend me," he said. The hearing before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan continues on May 19. In May 2021, 1MDB filed a lawsuit against Mohd Irwan and Arulkanda, accusing them of breach of trust and conspiracy, which led to losses of USD1.83 billion, linked to the company's investment in 1MDB-Petrosaudi Ltd, which was subsequently converted into the Brazen Sky Limited investment, purportedly recoverable from the Bridge Global Fund. 1MDB also alleged that both defendants committed breach of trust and conspiracy by misappropriating USD3.5 billion in company funds paid to Aabar Investments and USD1.265 billion paid to International Petroleum Investment Company on May 9, 2017. 1MDB further alleged that Mohd Irwan conspired with Arul Kanda to extend his employment agreement, resulting in a payment of RM2,905,200 to Arul Kanda, all while disregarding the company's interests, which ultimately led to financial losses and damages. Consequently, 1MDB is seeking USD6.59 billion in damages from both defendants and an additional RM2.9 million from Mohd Irwan related to the extension of the employment agreement.
The Sun
06-05-2025
- Business
- The Sun
1MDB maliciously filed lawsuit against me
KUALA LUMPUR: Former 1Malaysia Development Berhad (1MDB) chairman Tan Sri Mohd Irwan Serigar Abdullah told the High Court here today that the sovereign wealth fund had bad intentions when it filed the lawsuit against him in May 2021. Mohd Irwan said this was because he was a senior and high-ranking civil servant, holding the post of secretary general in the Ministry of Finance, while at that time Datuk Seri Najib Tun Razak was the Prime Minister and also the Minister of Finance. '1MDB's main target was Datuk Seri Najib. However, they wanted to blame someone other than Datuk Seri Najib, and I was an easy target because of my position as the secretary-general of the Ministry of Finance. '1MDB also wanted to sensationalise their case by falsely alleging that I was aligned to Datuk Seri Najib and his alleged wrongdoings and that I, somehow, conspired or colluded with Datuk Seri Najib in failing in my duties and responsibility to take the relevant steps to investigate the wrongdoers,' he said. Mohd Irwan said this in his witness statement when testifying as the second defendant during the hearing of the USD6.59 billion lawsuit filed by 1MDB, as plaintiff, against him and former 1MDB chief executive officer Arul Kanda Kandasamy for breach of trust and conspiracy. Mohd Irwan, who was former Treasury secretary-general said the filing of the suit was also clearly selective prosecution and done only to bring disrepute against him. He said this was clear as he had resigned in 2018 and it was only three years later in 2021 when the then government had changed hands after the 14th General Election, was this action filed against him. He said that at no point in time from May 2018 till May 2021 was a demand issued against him or was he asked to answer any allegations or given a chance to explain matters belatedly raised against him. 'Their conduct of bad faith is further shown when they filed this claim for alleged breach of duties as member of the board but yet, chose not to include the remaining members of the board at that material time namely Datuk Kamal Mohd Ali and Datuk Seri Norazman Ayob despite being aware that all decisions were collective decisions and none of the allegations made was a decision that I made on my own accord or attempted to push through without the consensus and approval of the entire board,' he said. Mohd Irwan said as a result of the lawsuit, he lost his reputation and his credibility had been tarnished. 'I am subject to ridicule and having to defend myself constantly. As a result, it is very difficult for me to continue to hold certain directorships as people are sceptical and weary of the allegations that have been made against me. Apart from that, I had to incur legal expenses in appointing solicitors to defend me,' he said. The hearing before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan continues on May 19. In May 2021, 1MDB filed a lawsuit against Mohd Irwan and Arulkanda, accusing them of breach of trust and conspiracy, which led to losses of USD1.83 billion, linked to the company's investment in 1MDB-Petrosaudi Ltd, which was subsequently converted into the Brazen Sky Limited investment, purportedly recoverable from the Bridge Global Fund. 1MDB also alleged that both defendants committed breach of trust and conspiracy by misappropriating USD3.5 billion in company funds paid to Aabar Investments and USD1.265 billion paid to International Petroleum Investment Company on May 9, 2017. 1MDB further alleged that Mohd Irwan conspired with Arul Kanda to extend his employment agreement, resulting in a payment of RM2,905,200 to Arul Kanda, all while disregarding the company's interests, which ultimately led to financial losses and damages. Consequently, 1MDB is seeking USD6.59 billion in damages from both defendants and an additional RM2.9 million from Mohd Irwan related to the extension of the employment agreement.
