Failure to recover RM3.6bil ‘investment’ frustrated SRC board, says ex-director

  • 📰 DailyExpress_MY
  • ⏱ Reading Time:
  • 10 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 83%

Sabah News

News,Newspaper,Headlines

Kuala Lumpur: The directors of SRC International Sdn Bhd became frustrated with management staff for their failure to secure the return of a RM3.6 billion “investment” made overseas, the High Court heard today.

Former director Che Abdullah @ Rashidi Che Omar said the company’s then CEO, Nik Faisal Ariff Kamil, had assured the board that the purported investment could be withdrawn at any time.“We told them to bring it back at whatever cost. We got agitated when we realised we did not get back the money that was promised,” he said.

SPONSORED CONTENT Electrifying windows of opportunity in Sabah - The right policies, collaborations, and strategies can turn emerging opportunities into victories for all parties in Sabah.

News Newspaper Headlines Malaysia Borneo Local National Business Sport Mobile

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

In SRC’s US$1.1b suit against Najib, ex-director says former PM blaming him and board for RM3.6b loss is an ‘afterthought’KUALA LUMPUR, May 8 — For Datuk Seri Najib Razak to hold the entire SRC International Sdn Bhd’s board of directors accountable for damages suffered relating to the approval of...
Source: malaymail - 🏆 1. / 86 Read more »

Hardware store owner loses RM3.4 million in fixed deposit scamJOHOR BAHRU: A 62-year-old man who is also the owner of a hardware store suffered losses of RM3.4 million after falling victim to a fixed deposit scam...
Source: theSundaily - 🏆 25. / 51 Read more »

KKB polls: Senior citizen jailed one month, fined RM3,000 for misusing King's pictureSince taking office, Prime Minister Srettha Thavisin has set his government several challenges, among them to achieve an average economic growth rate of at least 5% per year over five years and stimulating the economy through a handout of 10,000 baht to the people (the digital wallet project), totalling 5 trillion baht.
Source: staronline - 🏆 4. / 75 Read more »

Pamer Gambar Agong Ketika Kempen PRK, Lelaki Dipenjara 1 Bulan & Denda RM3,000Sebuah bingkai gambar bersama wajah Perdana Menteri Datuk Seri Anwar Ibrahim turut dilekatkan pada bahagian bumbung kereta ketika sedang berkempen.
Source: therakyatpost - 🏆 14. / 59 Read more »

Man jailed one month, fined RM3,000 for displaying King’s photo at by-election campaignHULU SELANGOR: A man has been sentenced to jail for a month and fined RM3,000 by the Kuala Kubu Baharu Magistrate’s Court for displaying the King of M...
Source: theSundaily - 🏆 25. / 51 Read more »

Long con: Store owner loses RM3.4mil over six years in investment scamThe 24-year-old Utah native cited her mental health as the reason she is stepping down from the title awarded to her Sept 29, 2023.
Source: staronline - 🏆 4. / 75 Read more »