KUALA LUMPUR: Former Prime Minister Datuk Seri Najib Razak said he never sought information about the freezing of RM3.6 billion of SRC International Fund by the Swiss authorities in 2013, the High Court heard today.
Najib, who was the sole shareholder and advisor emeritus of the company, said this was due to the complexity of the case and that he expected the local authorities to update him on any developments regarding the issue.
The frozen funds in BSI Bank in Lugano were part of the RM4 billion loan from the Retirement Fund Inc (KWAP) to SRC International and were seized by the Swiss authorities on suspicion of being laundered funds.
The 71-year-old was testifying in a US$1.18 billion civil suit filed by SRC International against him and its former chief executive, Nik Faisal Ariff Kamil.
He said this under cross-examination by SRC International's lawyer Datuk Lim Chee Wee before judge Datuk Ahmad Fairuz Zainol Abidin.
Lim: As the then finance minister, did you personally take action to determine what had happened to SRC's investments to generate returns to repay the loan from KWAP?
Najib: Yes, I did ask around, I did ask the (SRC International) management. They had difficulties in giving me a satisfactory answer. I was not happy with the situation.
Lim: If you were unhappy with the management, what report did you request from law enforcement agencies regarding the freezing of SRC funds in Switzerland?
Najib: I did not ask for a report but I expected them (the authorities) to give me the report. I was disappointed with the situation.
The former Pekan member of parliament said the company failed to recover its assets even after he stepped down as prime minister following the fall of the Barisan Nasional-led government in 2018.
Najib also disagreed with Lim's assertion that he refused to allow local authorities to investigate the matter because he had received RM42 million from the funds.
"Whatever I receive, I believe in my state of mind is donation money."
Meanwhile, Najib also denied that he had prevented former finance minister II, Datuk Seri Ahmad Husni Hanadzah, from attempting to repatriate the money frozen by the Swiss authorities back to the country.
"He (Ahmad Husni) just mentioned it casually. I never stopped him from acting in any 1MDB matters.
"If he prepared a cabinet paper then we could review it. All Ministers travelling overseas must prepare a cabinet paper," he said.
SRC, under its new management, filed the suit in May 2021, claiming that Najib had committed a breach of trust and abuse of power, and had personally benefited from the company's funds and misappropriated the said funds.
It is also seeking a court declaration that Najib is responsible for the company's losses due to his breach of duties and trust and for Najib to pay back the RM42 million in losses it has suffered.
The trial continues.