Najib Trial Day 26 Witness Concedes Src Documents From Nik Faisal May Not Be Authentic




The criminal trial of former prime minister Najib Abdul Razak involving the alleged misappropriation of funds from SRC International Sdn Bhd enters its 26th day today at the High Court in Kuala Lumpur
Malaysiakini brings you live reports of the proceedings
Summary of Najib’s SRC RM42 million caseNajib is facing 7 charges relating to RM42m involving SRC International, a former 1MDB subsidiary
1 abuse of power charge3 criminal breach of trust (CBT) charges3 money laundering chargesClick to view infomation on judge, prosecution and defence teamKEY HIGHLIGHTSWitness concedes SRC documents from Nik Faisal may not be authenticIsmee, lawyer clash again over whether Najib equates to 'gov't'Lawyer points out date discrepancy in RM2b loan from KWAP Ismee, lawyer lock horns over Najib's 'approval' for SRC decisions'What time do we usually break for lunch?'Jho Low's name crops up againIsmee agrees ex-director may be complicit with ex-CEO to defraud SRC Ismee: Without money trail, I can't say what happened to RM4bBoard did not approve RM2b leaving SRC account - witness'Board unaware of Nor Mohamed Yakcop's role in SRC'Ismee agrees directors didn't give mandate for RM2b guaranteeEx-PM enters the dockThank you for following Malaysiakini's live report5pm - Thank you for following our live report today
Witness concedes SRC documents from Nik Faisal may not be authentic4.50pm - Witness Ismee Ismail concedes that the authenticity of documentary evidence originating from then-SRC International CEO Nik Faisal Ariff Kamil can be called into question
Defence lawyer Harvinderjit Singh asks the former SRC International chairperson if all the meeting minutes and shareholder resolutions – supposedly from Minister of Finance Incorporated (MOF Inc) – brought to the attention of the company board by Nik Faisal are "in doubt now."The prosecution initially objects to Harvinderjit's line of questioning, before he tells the court that he wants to establish whether the documents represented to the board by Nik Faisal were untrue
He is allowed to continue with his questions, and Ismee answers that it is "possible.""It is sad," the witness adds
Harvinderjit then requests for Justice Mohd Nazlan Mohd Ghazali to adjourn today's proceedings, saying that he is almost done with his cross-examination, but needs to go through his notes again to ensure nothing was missed. He adds that lead defence counsel Muhammad Shafee Abdullah also needs about an hour to cross-examine Ismee
Nazlan then adjourns the hearing to 9am tomorrow
Ismee, lawyer clash again over whether Najib equates to 'gov't'4.30pm - Former SRC International chairperson Ismee Ismail and defence lawyer Harvinderjit Singh clash yet again, this time over whether then-premier Najib Abdul Razak equates to 'the government', or was merely part of the larger government machinery
The heated cross-examination between the lawyer and the 39th witness is over Paragraph 22 of Ismee's written witness statement
The paragraph states that every time Ismee raised issues about the governance of SRC International, then-CEO Nik Faisal Ariff Kamil kept saying that the matter had been discussed and agreed by the government
In that paragraph, Ismee states that in his mind, 'the government' equates to Najib
Harvinderjit: If he (Nik Faisal) is the link with the prime minister (Najib), why you do not just use the word prime minister
Ismee: I used the word prime minister
Harvinderjit: Then you cannot say government. When you raised the issue of governance, did you refer to the minutes (of SRC International board meetings)
Ismee: Yes
Harvinderjit: Najib was not the government, he was just the prime minister and finance minister
Ismee: He was the prime minister
Harvinderjit: Nik Faisal used the word 'government' in the context of government to government, not one man (Najib). There must be the Economic Planning Unit dealing with this, the whole machinery. Government guarantees cannot come about until the cabinet approves it first, and there are many ministers in cabinet. The government macro decision represented to you cannot be tied to just the prime minister
Ismee: Yes
Lawyer points out date discrepancy in RM2b loan from KWAP 4:20pm - Witness Ismee Ismail agrees with the defence that there is a discrepancy between the date of an SRC International director's resolution on the placement of the second RM2 billion tranche of the loan from Retirement Fund Inc (KWAP) – Feb 17, 2012 – and the date of the loan actually being approved, on March 23 that year
Harvinderjit: There is a letter of offer (of the second RM2 billion tranche of the loan) from KWAP on March 23, 2012. Prior to that, there was no facility approved by KWAP
How did this facility come to be approved? You are unaware whether on staggered drawdown or lump sum basis
Ismee: Yes
Harvinderjit: There is a director's resolution on Feb 17, 2012, talking about the placement of the funds (second RM2 billion tranche), but that cannot be correct, it presumed that the facility had already been granted (by KWAP)
Ismee: At that point, it was represented (by then SRC International CEO Nik Faisal Ariff Kamil) as such (to the board)
Harvinderjit: This resolution was dated after facility drawdown and dated Feb 17, 2012. It does not appear right that there is a directors' resolution to utilise the funds (before the loan application was even approved)
Ismee: Okay
The first RM2 billion tranche of the loan from KWAP was received by SRC International in August 2011. The second RM2 billion tranche was received in March the following year
Ismee, lawyer lock horns over Najib's 'approval' for SRC decisions3.30pm - Defence lawyer Harvinderjit Singh locks horns with witness Ismee Ismail (photo) again, this time over a suggestion that the SRC International board did not need approval from then-premier Najib Abdul Razak for company decisions
Harvinderjit suggests that Najib's approval was not necessary, as the wording of the company's memorandum and articles of association (M&A) only stipulates obtaining the former premier's "advice."Ismee, the former SRC International chairperson, says in response that there is more to the matter than what is written on paper
Harvinderjit: But it (M&A) doesn't say 'approval'. It doesn't require approval by the prime minister
Ismee: I'm sure the article can't say that, can it? (It is the) company's act, (it cannot state) direction or approval. This is why I say, this is one of the things that are tersirat (implied)
Ismee's answer seems to upset Harvinderjit, who challenges the witness for continually referring to "tersurat (express)" or "tersirat."This prompts an interjection from deputy public prosecutor V Sithambaram, who objects to Harvinderjit arguing with the witness
"You are not supposed to argue with him, you are supposed to get answers (from him)," he says
Harvinderjit then apologises to the court, and continues with the cross-examination of Ismee
2.38pm - Proceedings resume with the cross-examination of former SRC International chairperson Ismee Ismail
1pm - Proceedings break for lunch, and are expected to resume at 2.30pm this afternoon
'What time do we usually break for lunch?'12.35pm - Justice Mohd Nazlan Mohd Ghazali shoots down a request by defence counsel Harvinderjit Singh for the court to call an early lunch break
Harvinderjit makes the request during his cross-examination of former SRC International chairperson Ismee Ismail over the validity of several documents related to the company that had been tendered as evidence – including meeting minutes and shareholder resolutions
The lawyer appears to lose track of time, as he also asks the judge the usual time court breaks for lunch. "Yang Arif, can we break for lunch?" says Harvinderjit. "What time do we usually break for lunch?"Nazlan tells him that court usually breaks at 1pm
This elicits a giggle from Harvinderjit, who then tells the court that he will continue with the cross-examination until lunchtime
Jho Low's name crops up again11.15am - After a short break, the name of fugitive businessperson Low Taek Jho crops up in court again – this time, when defence lawyer Harvinderjit Singh quizzes Ismee Ismail on former 1MDB finance director Terrence Geh representing the SRC International secretary in a board meeting
Harvinderjit Singh asks the former SRC International chairperson whether he knows that then-CEO Nik Faisal Ariff Kamil was a close associate of Low's
Harvinderjit: What about Geh? Are you aware now he is a close associate to Low
Ismee: Now I'm aware
Harvinderjit: And so is Nik Faisal, now you are aware
Ismee: Yes
Harvinderjit: So from what you are aware of now, people like Nik Faisal, Jerome Lee, Terrence Geh, they are close associates of Low
Ismee: Yes
Ismee agrees ex-director may be complicit with ex-CEO to defraud SRC 10.30am: Ismee Ismail agrees with the defence that then-director Suboh Md Yassin may have been complicit with then-CEO Nik Faisal Ariff Kamil to defraud the SRC International board over a deal struck by Gandingan Mentari Sdn Bhd and Putra Perdana Construction Sdn Bhd
Ismee (photo), the former SRC International chairperson, agrees with defence lawyer Harvinderjit Singh's contention that the board was kept in the dark over the deal for Gandingan Mentari to pump RM140 million into Putra Perdana Construction for the latter to invest in South Africa
The deal involves a 70/30 profit split between Gandingan Mentari and Putra Perdana Construction
Harvinderjit: Suboh was not honest with the board, by looking at the signature (on documents). He was not honest with the board
Ismee: He thought it was Gandingan Menteri
Harvinderjit: Gandingan Mentari entered an agreement with Putra Perdana Construction as a pseudo-investment manager to mine in South Africa, committing RM140 million to Putra Perdana Construction, and split 70/30 with Gandingan. This was not told to the board
Ismee: Yes (agreeing)
Harvinderjit: It appears that Suboh was complicit with Nik Faisal
Ismee: Yes
The SRC International board was allegedly defrauded during its July 2014 meeting
Ismee: Without money trail, I can't say what happened to RM4b10.30am - Former SRC International chairperson Ismee Ismail testifies that he cannot say what happened to the RM4 billion loaned by the Retirement Fund Inc (KWAP) to the company in 2011 and 2012
Under cross-examination by defence lawyer Harvinderjit Singh, he says that he cannot do so without proper documentation
Harvinderjit: You can't say what happened to the money from KWAP... What happened to the KWAP loan to SRC
Ismee: Without any documentary evidence or money trail, I can't say for sure
Board did not approve RM2b leaving SRC's account - witness10.20am - Former SRC International chairperson Ismee Ismail agrees that the second RM2 billion tranche of the loan from Retirement Fund Inc (KWAP) – that was banked into the company's account on March 28, 2012 – went out later that month without the board's approval
He is replying to the questions from defence lawyer Harvinderjit Singh (photo)
Harvinderjit: An entire RM2 billion from KWAP was credited into the account on March 28 (2012) and debited out of the account on March (not clear). The board did not approve of this
Ismee: Yes
Harvinderjit: The fact that the money came in and out, there is no complying with the board's mandate
Ismee: Yes
Harvinderjit: This is serious fraud
Ismee: Yes
Harvinderjit: There were (supposed to be) checks in place, the money in this account cannot be moved out unless a Group A authorised signatory (signed off on the transaction), but then how was the money transferred out? You cannot tell how
Ismee: Yes
'Board unaware of Nor Mohamed Yakcop's role in SRC'9.50am - The board of SRC International was unaware of Nor Mohamed Yakcop's (photo) exact role in the company despite the former minister being involved in the RM2 billion loan from Retirement Fund Inc (KWAP)
Under cross-examination by defence lawyer Harvinderjit Singh, former SRC International chairperson Ismee Ismail that Nor Mohamed, who oversaw the Economic Planning Unit (EPU), was involved in several important in 2011 and 2012
This includes the establishment of SRC International, and its change of ownership from 1MDB to Minister of Finance Inc
Harvinderjit: So, to summarise, the decision made by the government to (give a) RM2 billion grant (was based on) a memorandum from the Treasury to Minister of Finance 2 (MOF2). And what the MOF2 minutes say is that 'setelah berbincang dengan pegawai MOF, memorandum ini disokong (After discussion with Finance Ministry officers, this memorandum is supported).' So on the face of this, the proposal for government grant comes from the Treasury. And approval for this sokongan (support) is from the EPU minister and the Finance Ministry. Correct
Ismee: Yes
Harvinderjit: And the board was not aware of what exactly Nor Mohamed's role was in SRC
Ismee: Yes
Former SRC chair agrees directors didn't give mandate for RM2b guarantee9.37am: Former SRC International chairperson Ismee Ismail agrees with defence lawyer Harvinderjit Singh's assertion that the board did not issue a mandate for its then-CEO Nik Faisal Ariff Kamil to seek an RM2 billion guarantee from the government on Jan 31, 2012
Harvinderjit: The (SRC International) board did not give mandate to Nik Faisal to issue the letter
Ismee: As far as I could remember.Harvinderjit: If the recipient, the Finance Ministry, went through the letter seeking RM2 billion government guarantee, the recipient would assume it went through the company's system (properly checked)
Ismee: That would be a reasonable assumption
Retirement Fund Inc (KWAP) issued the second RM2 billion tranche of the loan to SRC International in March 2012
Ex-PM enters the dock9.09am - Najib enters the dock as proceedings begin, with former SRC International chairperson Ismee Ismail taking the stand to resume his cross-examination by lawyer Harvinderjit Singh
9.07am - The accused, former premier Najib Abdul Razak, enters the Kuala Lumpur High Court and takes a seat at the front row of the public gallery
Also seen are Attorney-General Tommy Thomas, who leads the prosecution team, and Najib's lead counsel Muhammad Shafee Abdullah, who heads the defence team
The cross-examination of former SRC International chairperson Ismee Ismail will resume on the 26th day of former prime minister Najib Abdul Razak's RM42 million SRC International trial
Since taking the stand last Monday, Ismee has been grilled by defence lawyer Harvinderjit Singh over then-SRC International CEO Nik Faisal Ariff Kamil allegedly misrepresentation the facts of the first RM2 billion tranche of the loan from Retirement Fund Inc (KWAP) to the board of directors
On Friday, the 39th witness was asked whether Nik Faisal, who is now being sought by the authorities, had misrepresented the ownership transfer of SRC International from 1MDB to the Minister of Finance Inc in early 2012
Harvinderjit focused on whether Nik Faisal had claimed that the transfer was greenlit by then-minister in the Prime Minister's Department overseeing the Economic Planning Unit (EPU), Nor Mohamed Yakcop
Ismee was also questioned over first RM2 billion tranche of the loan, with RM1.8 billion sent out for overseas investment and RM200 million remaining in Malaysia
However, based on other witness testimonies, the prosecution's case for Najib's alleged abuse of power, graft, and money laundering of RM42 million from SRC International only involves the second RM2 billion tranche of the loan in March 2012
 -Mkini

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