The Malaysian Insight

NAJIB Razak said he does not know who forged his signature on documents relating to SRC International Sdn Bhd, including those that enabled the transfer of RM3.6 billion to offshore entities and banks.

The money was transferred between 2011 and 2012 to, among others, BSI Bank in Switzerland and Bank Julius Baer & Co Ltd in Hong Kong, the Kuala Lumpur High Court heard today.

During cross-examination by ad hoc deputy public prosecutor V. Sithambaram, former prime minister Najib maintained that he never signed the documents shown to him in court authorising the purported investments abroad.

The documents included a shareholder’s resolution that enabled SRC International to invest RM3.6 billion overseas.

The former finance minister, who was the single shareholder of Minister of Finance Inc, said the SRC International board never informed him of the decision to invest most of the RM4 billion in loans from Retirement Fund Inc overseas.

Sithambaram questioned who would have the “audacity to forge” Najib’s signature.

Sithambaram: You (were) the prime minister and finance minister. This is SRC International, a government-linked company under (MoF Inc), and yet, you keep saying your signature was forged. Who would have the audacity to forge (it)?

Najib: I believe Suboh (former SRC International director Suboh Md Yassin) made the same allegation, that the signatures were forged.

Sithambaram: You keep telling the court that your signature was forged. Who would dare do that in the government-linked company?

Najib: I don’t know.

Sithambaram: You’re saying the board of SRC International was acting on forged minutes.

Najib: Yes.

Sithambaram: That’s your stand now, we all know where this is coming from. Your allegation that these signatures were manipulated and forged are self-serving and an afterthought in this case.

Najib: No.

Sithambaram: That is why at the time when the Malaysian Anti-Corruption Commission took your statement, you voluntarily admitted that you signed the documents.

Najib: I disagree.

Sithambaram: And that is why because they were genuine documents, you did not ask for the original (to make a comparison) before you answered the question, because you knew the signature was yours.

Najib: I disagree.

Earlier today, Najib said he never signed documents between 2011 and 2018 to authorise SRC International to invest in the energy sector.

The Pekan MP said despite him being the single shareholder of the entity, the decision must be made by the board of directors.

He maintained that MoF Inc was not informed of the transactions involving most of SRC International’s capital.

Najib said he was “surprised at first” when he learnt about the huge investments overseas, but maintained that SRC International’s board “has to be responsible”.

“In the Westminster model, if something like this happens to the Finance Ministry, the minister will resign. He won’t say ‘MoF Inc failed to inform me’,” said Sithambaram.

Najib, disagreeing, referred to the RM31 billion lost in the foreign exchange market between 1991 and 1994, during Dr Mahathir Mohamad’s first stint as prime minister.

The 66-year-old accused is on trial for charges linked to RM4 billion in loans issued to SRC International in 2011 and 2012, of which he is accused of receiving RM42 million in 2014 and 2015.

The trial, before judge Mohd Nazlan Mohd Ghazali, resumes tomorrow. – January 7, 2020.