Former SRC International Sdn Bhd chairman Tan Sri Ismee Ismail arrives at the Kuala Lumpur Court Complex June 17, 2019. — Picture by Yusof Mat Isa
KUALA LUMPUR, June 17 — Documents suggesting former SRC International Sdn Bhd chief executive Nik Faisal Ariff Kamil had colluded with the company’s former director Datuk Suboh Md Yassin concerning a 2014 transaction of RM140 million that was meant to be invested in South America were revealed at the High Court trial of Datuk Seri Najib Razak today.
This particular transaction was not known to the rest of the SRC International board, another former director Tan Sri Ismee Ismail testified under cross-examination from Najib’s defence lawyer Harvinderjit Singh.
The purported documents detailed how SRC International’s subsidiary company Gandingan Menteri Sdn Bhd entered into a mining joint venture in South America with Putra Perdana Construction Sdn Bhd, with 70 per cent of profits going to Gandingan Mentari and the rest to Perdana Putra.
Several documents were submitted to the court that detailed how RM170 million that SRC International had meant to invest in the South American venture and which was supposed to be presented to its board was not, and that some RM140 million was moved around in several bank transactions without their knowledge.
Ismee, who returned as the prosecution’s witness, agreed under questioning that those documents had been signed by then CEO Nik Faisal and Suboh in 2014.
It was also revealed that Nik Faisal and Suboh had both purported to be investment managers tasked to look into the feasibility of entering the South American mining industry at the same time.
“These would have been disclosed to the board?” Harvinderjit asked Ismee, referring to the documents pertaining to the South American investment.
“No,” Ismee replied.
He also replied in the negative when Harvinderjit asked if he had attended the SRC International board meeting when Nik Faisal and Suboh spoke about the RM140 million in investments.
“That by July 24, RM140 million had already gone out of the accounts, this was not told to you?” Harvinderjit asked.
“It was not told,” Ismee said.
Then Harvinderjit suggested that Suboh appeared complicit in helping Nik Faisal pull off the trick “deal”.
Ismee appeared hesitant to agree with the defence lawyer.
“I wouldn’t judge, but it would appear so,” he said.
Later, as the defence went over the bank slips, Harvinderjit asked Ismee if the transactions showed the money trail from Gandingan Menteri ended up in Putra Perdana’s account.
“Yes,” Ismee concurred.
Ismee is back for the sixth day as the prosecution’s 39th witness in Najib’s trial, with proceedings held before High Court judge Mohd Nazlan Mohd Ghazali.
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