News about SRC International

KUALA LUMPUR (Nov 11): Former prime minister Datuk Seri Najib Abdul Razak's trial involving alleged misappropriation of SRC International Sdn Bhd's RM42 million will go beyond Malaysia's next general election in anticipation that the case will reach the Federal Court, defence lawyer Tan Sri Muhammad Shafee Abdullah said.

KUALA LUMPUR (Nov 11): Datuk Seri Najib Abdul Razak and his lead defence counsel Tan Sri Muhammad Shafee Abdullah were taken aback by a high court decision ordering the former prime minister to enter his defence on all seven charges levelled against him over the misappropriation of RM42 million belonging to SRC International Sdn Bhd.

KUALA LUMPUR (Nov 11): The 1MDB-Tanore trial was cut short today as prosecution witness Datuk Shahrol Azral Ibrahim Halmi was unwell as he was down with the flu.

KUALA LUMPUR (Nov 11): Datuk Seri Najib Abdul Razak's legal team plans to file contempt charges against a politician, journalist and newspaper in relation to comments made on the former premier's SRC International Sdn Bhd trial.

KUALA LUMPUR (Nov 11): High Court Judge Mohd Nazlan Mohd Ghazali said today that based on totality of evidence, it can be construed that Datuk Seri Najib Abdul Razak was a shadow director of SRC International Sdn Bhd and that it was on Najib's directive a sum of RM1.

KUALA LUMPUR (Nov 11): Once Malaysia's highest ranking politician, Datuk Seri Najib Abdul Razak has today been ordered by the High Court to enter his defence for the three criminal breach of trust, an abuse of power and three money laundering charges involving RM42 million of SRC International Sdn Bhd funds.

  KUALA LUMPUR (Nov 11): Justice Mohd Nazlan Ghazali said Retirement Fund Incorporated's (KWAP) RM2 billion loan to SRC International Sdn Bhd would not have been approved without the government guarantees and early disbursement of the loan would not have been done if the accused was not PM or Finance Minister at the time.

KUALA LUMPUR (Nov 8): The auditors of 1Malaysia Development Bhd (1MDB) namely KPMG and Deloitte did not raise any substantial issues on the credibility of PetroSaudi International Ltd (PSI) to the board of directors, said former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi.

KUALA LUMPUR (Nov 8): 1Malaysia Development Bhd (1MDB) did not suspect anything amiss when transferring US$330 million meant for PetroSaudi International Ltd (PSI) into the account of Good Star Ltd in 2011, despite its earlier experiences with Good Star in 2009, the High Court was told yesterday.

KUALA LUMPUR (Nov 7): The defence in Datuk Seri Najib Abdul Razak’s 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial has argued that there may have been a conspiracy by PetroSaudi International Ltd (PSI) executives Tarek Obaid and Patrick Mahony to ensure that the former Prime Minister would expedite the release of US$1 billion to their company.