SRC’s ex-CEO misled board over 2013 financial statements, court hears

SRC’s ex-CEO misled board over 2013 financial statements, court hears

Former SRC International director Suboh Yasin says Nik Faisal Ariff Kamil ‘hid certain things’ from the directors.

Najib Razak’s co-defendant Nik Faisal Ariff Kamil did not file SRC International’s financial statements for 2013 with SSM despite a board resolution instructing that it be done, the company’s former director said.
KUALA LUMPUR:
A former director of SRC International Sdn Bhd told the High Court hearing the company’s civil suit against Najib Razak that its then CEO had misled the board as to the status of its financial statements for 2013.

Suboh Yasin said the board of directors had signed a resolution instructing the management to submit the company’s accounts to the Companies Commission of Malaysia (SSM).

However, it was never done, he said.

“He (Nik Faisal) hid certain things,” Suboh said.

Former SRC International chairman Ismee Ismail had previously testified that he was angry with Nik Faisal after finding out that the documents had not been lodged with SSM.

SRC International is suing former prime minister Najib Razak and Nik Faisal for wrongfully receiving company property, and dishonestly and wrongfully conspiring to convert company property to their own use.

A judgment in default of appearance has been entered against Nik Faisal.

The suit originally included Suboh, Ismee and fellow directors Shahrol Azral Ibrahim Halmi, Azhar Osman Khairuddin, and Che Abdullah @ Rashidi Che Omar as co-defendants.

SRC International later dropped the cases against them. However, they were added as third parties by Najib.

To a question from Najib’s lawyer, Farhan Shafee, as to whether the directors brought the non-filing of financial statements to the attention of the then prime minister, Suboh said he could not remember.

“There is a certain protocol (to observe if they want to get in touch with Najib) as he has other duties,” he said.

Farhan asked whether he agreed that not filing the financial statements was not an honest oversight by Nik Faisal.

Suboh answered in the affirmative.

The hearing before Justice Ahmad Fairuz Zainol Abidin continues on June 24.

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