The former prime minister told the High Court here today this was not how such companies were run. He said SRC was no exception.

“In my limited meetings with Nik Faisal, he represented that the board had decided on the investments after the necessary deliberations and due diligence were undertaken through external consultants and advisers,” Najib said in his witness statement.

Najib, who was also the finance minister at the time, said he was not in any position to micro-manage SRC or any other company.

He said SRC was only one of many companies that were involved in national interest-related projects at that time.

“There was no reason for me to be directing the board of SRC through Nik Faisal,” he said.

SRC’s witnesses, former directors Ismee Ismail and Suboh Yassin, had previously claimed that Nik Faisal acted as the link between SRC and Najib.

They also claimed that every decision of the board needed Najib’s approval and all instructions were conveyed through Nik Faisal.

“Not at all,” Najib said today, denying the assertions by Ismee and Suboh.

He said it now appears that Nik Faisal may have been “playing both sides”.

“To me, he would hold out that matters had been decided by the board, and to the board, he held out that I had directed on matters.

“What, however, baffles me is why the other directors of SRC including Ismee did not bother to verify things with me directly and merely accepted the word of Nik Faisal.”

He said Ismee, as chairman of SRC, was an experienced corporate man with tremendous experience in the way government-linked companies were run.

“He had my personal contact number and we had met on several occasions. Never once was I asked on the matters he said Nik Faisal had represented to the board,” he said.

In May 2021, SRC’s new management filed a civil lawsuit against Najib and Nik Faisal.

The company said Najib committed breach of trust and abuse of power, personally benefitted from the company’s funds and misappropriated them.

SRC is seeking a court declaration holding Najib responsible for losses suffered by the company because of his breach of duties and trust, and for Najib to repay the RM42 million in losses the company incurred.

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

Najib, 70, has been jailed since Aug 23, 2022, after he was convicted of misappropriating RM42 million in SRC funds. He was sentenced to 12 years jail and fined RM210 million.

Following a petition for a royal pardon filed on Sept 2, 2022, the Federal Territories Pardons Board on Jan 29 halved Najib’s jail term to six years, and reduced his fine to RM50 million.

The trial before Justice Ahmad Fairuz Zainol Abidin continues.