A former director of SRC International Sdn Bhd has refuted claims by Datuk Seri Najib Razak who placed the blame on SRC's former directors for the losses incurred by the subsidiary of 1Malaysia Development Bhd (1MDB).
Datuk Mohammed Azhar Osman Khairuddin, who was also the company's former CEO, denied claims by the former prime minister that the losses were a result of various acts and omissions of the former directors.
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Datuk Mohammed Azhar Osman Khairuddin, who was also the company's former CEO, denied claims by the former prime minister that the losses were a result of various acts and omissions of the former directors.
Read more at https://shorturl.at/dgnSV
WATCH MORE: https://thestartv.com/c/news
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NewsTranscript
00:00 A former director of SRC International Sendirian Berhad has refuted claims by Datuk Seri Najib Razak,
00:09 who placed the blame on SRC's former directors for the losses incurred by the subsidiary of One Malaysia Development Berhad.
00:17 Datuk Mohamad Azhar Osman Khairuddin, who was also the company's former CEO,
00:22 denied claims by the former Prime Minister that the losses were a result of various acts and omissions of the former directors.
00:30 Mohamad Azhar held the position of director at SRC between July 29, 2014 and February 27, 2017.
00:40 He was testifying at the Kuala Lumpur High Court on Monday,
00:44 as the third individual named in a list of third-party respondents in SRC's lawsuit against Najib for breach of statutory duties in the company.
00:54 Mohamad Azhar also testified that SRC's loans from Retirement Fund, Inc. were dispersed out of SRC before his directorship.
01:04 Under new management, SRC filed the legal action in May 2021,
01:09 alleging that Najib had committed breach of trust, abuse of power, misappropriated the company's funds, and personally benefited from it.
01:18 The company was seeking damages, interests, costs, and a court declaration that Najib was responsible for the company's losses
01:26 due to his breach of duties and trust, and was demanding that Najib paid back the 1.18 billion US dollars in losses that it had suffered.
01:36 The hearing continues before Justice Ahmad Fairooz Zainal Abidin on Tuesday.
01:41 [No audio]