KUALA LUMPUR: Datuk Seri Najib Razak said SRC International Bhd was not his 'baby', the High Court heard today.
The incarcerated former prime minister said it was not his idea to establish the company, which aimed to seek new energy investments for the country.
Najib, however, said he would never act against the company's interests, as he had taken an oath under the constitution to protect it.
Najib, who is also the company's emeritus advisor, made this statement when correcting lawyer Datuk Dr. Gurdial Singh Nijar's misconception about his role in the company.
The 71-year-old, said this when testifying in a US$1.18 billion civil lawsuit filed by SRC International against him and the company's former CEO Nik Faisal Ariff Kamil, who is still at large.
Gurdial is representing SRC's former director Datuk Suboh Md Yassin who is the third-party respondent in the lawsuit.
Najib: I have to correct you. If you say the SRC is my baby, I am definitely not the father.
Gurdial: Okay, fine. That means we have totally mistaken, us categorising you as a visionary in this.
Najib: Okay, yes, but as the father of SRC? Definitely not. Because we have documents to show that it was never my idea.
Gurdial: Okay, all right. I, myself, was under an illusion that it was, you know, being conceived, it and so on.
Najib: Please don't say I'm the father of SRC.
Gurdial: Okay, I won't say. Meanwhile, the former Pekan member of Parliament said both the company and its board of directors were jointly liable for the losses resulting from the misappropriation of funds.
Gurdial: It was not fair to blame my client when he only followed shareholder resolution.
Najib: They need to act for the best of the company as stated in the company's memorandum & Article of Association.
Gurdial: SRC and its directors to blame. Could you agree with me?Najib: Jointly liable.
Gurdial: The company also sued its directors but later withdrew it.
Najib: I cannot understand why. I am baffled. After preparing such a lengthy suit and they just withdrew it.
Najib also said that any directors who disagreed with the company's direction could have chosen to leave.
He cited the example of former 1Malaysia Development Bhd (1MDB) chairman, Tan Sri Mohd Bakke Salleh, who resigned from the company in 2009 as an act of protest.
"If you are one of the board members and do not agree with whatever the company decides, then you are at liberty to resign."
The company also alleged Najib misappropriated company funds and benefited from them.
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 suffered.
The trial before Judge Datuk Ahmad Fairuz Zainol Abidin continues on Oct 24.