KUALA LUMPUR: SRC International Sdn Bhd had failed to perform due diligence on the first Retirement Fund Incorporated loan of RM1.8bil before transferring it offshore for purported investment activities, the High Court was told.) said no due diligence was carried out as the directors’ circular resolution was signed and approved by Datuk Seri Najib Razak , who was the prime minister and finance minister at the material time.
“It wasn’t only instructions, this was signed by the PM and former finance minister and shareholder of 1MDB so that carried a lot of weight. In the SRC criminal trial in 2019, former SRC chairman Tan Sri Ismee Ismail testified that Nik Faisal was ordered by Najib to transfer out the money in a meeting on Sept 7, 2011.
SRC International Civil Suit Shahrol Azral Ibrahim Halmi
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