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Malaysian Reserve
15 hours ago
- Business
- Malaysian Reserve
Ex-foundation CEO learned of Najib's AmBank accounts from media reports
FORMER Yayasan Rakyat 1Malaysia (YR1M) CEO Ung Su Ling only learned from media reports that the AmBank accounts receiving RM42 million belonged to former Prime Minister (PM) Datuk Seri Mohd Najib Razak. As reported by an online portal today, Ung told the High Court that she was unaware that the funds came from SRC International Sdn Bhd when instructed by Najib's then principal private secretary the late Azlin Alias to transfer them via Ihsan Perdana Sdn Bhd (IPSB). The funds were deposited into two AmBank accounts ending in 880 and 906, between late 2014 and early 2015. Ung confirmed arranging three transfers from IPSB — RM27 million, RM5 million and RM10 million — but said she had no additional information about the money. 'At the material time, I was not aware of the source of these funds, nor was I informed of the same by Azlin. I can attest that these funds did not originate from nor belong to YR1M. 'However, based on subsequent media reports and the decision of the SRC International case, I understand that these funds, which were transferred to IPSB, originated from SRC,' she said during examination-in-chief. Ung acted on Azlin's instructions to transfer the funds to the specified bank accounts without knowing who owned them. She was testifying as the first witness for the plaintiffs in SRC International and its subsidiary Gandingan Mentari Sdn Bhd's lawsuit against Najib to recover RM42 million allegedly misappropriated from SRC International 's accounts. When asked about the link between YR1M and IPSB, Ung explained that YR1M supported IPSB financially through grants and funding for community programmes in line with the 1Malaysia initiative. During cross-examination by defence lawyer Farhan Shafee, she said she never felt it necessary to seek further details about the funds. In August 2022, Najib was found guilty on seven counts of abuse of power, money laundering, and criminal breach of trust involving SRC 1Malaysia's funds. His initial sentence of 12 years in prison and a RM210 million fine was later reduced to six years and RM50 million through a royal pardon. The hearing before Justice Raja Ahmad Mohzanuddin Shah Raja Mohzan is ongoing. — TMR
Daily Express
17 hours ago
- Business
- Daily Express
Ex-foundation CEO claims ignorance over Najib's Ambank accounts
Published on: Friday, August 15, 2025 Published on: Fri, Aug 15, 2025 By: Faisal Asyraf, FMT Text Size: SRC International Sdn Bhd and its subsidiary, Gandingan Mentari Sdn Bhd, sued Najib Razak for the recovery of RM42 million allegedly misappropriated from the parent company's accounts. (Bernama pic) Kuala Lumpur: Former Yayasan Rakyat 1Malaysia (YR1M) CEO Ung Su Ling told the High Court here that she only learned from media reports on the SRC International trial that the Ambank accounts which received RM42 million belonged to former prime minister Najib Razak. Ung also claimed she was unaware that the funds had originated from SRC International when she received instructions from the late Azlin Alias, Najib's then principal private secretary, to facilitate the transfer of money from Ihsan Perdana Sdn Bhd (IPSB). The funds were transferred to two Ambank accounts ending in 880 and 906 in late 2014 and early 2015. Ung admitted to facilitating transfers from IPSB in three tranches – RM27 million, RM5 million and RM10 million – but maintained that she had no further details about the funds. 'At the material time, I was not aware of the source of these funds, nor was I informed of the same by Azlin. I can attest that these funds did not originate from nor belong to YR1M. 'However, based on subsequent media reports and the decision of the SRC case, I understand that these funds, which were transferred to IPSB, originated from SRC,' she said during examination-in-chief. She added that she followed Azlin's instructions to transfer the funds to the specified bank accounts without knowing who owned them. 'However, based on media reports and the Kuala Lumpur High Court's decision in the SRC case, I understand that the accounts ending in 880 and 906, to which the funds were transferred, were Najib's personal bank accounts,' Ung said. She was testifying as the first plaintiff witness in the lawsuit by SRC International Sdn Bhd and its subsidiary, Gandingan Mentari Sdn Bhd, against Najib to recover RM42 million allegedly misappropriated from the parent company's accounts. Asked about the relationship between YR1M and IPSB, Ung said that YR1M provided financial support through grants and funding to IPSB for community programmes aligned with the principles of the 1Malaysia initiative. During cross-examination by defence counsel Farhan Shafee, Ung said she never felt the need to find out more details about the funds. Farhan: Before giving any instructions (for the fund transfer), would you think it necessary to ask if there were any proposals regarding these funds? Ung: No. Farhan: In your mind, why not? Ung: It's not my place to enquire. In August 2022, Najib was convicted of seven charges involving abuse of power, money laundering and criminal breach of trust related to SRC International funds. His original sentence of 12 years' jail and a RM210 million fine was later reduced to six years and RM50 million following a royal pardon. The hearing before Justice Raja Ahmad Mohzanuddin Shah Raja Mohzan continues. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
