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Najib had absolute power over SRC by design: prosecution

PUTRAJAYA – Datuk Seri Najib Razak had ultimate power over SRC International Sdn Bhd, including approving any investments and appointment of its directors, the Federal Court heard today.

In the opening salvo of Najib’s final appeal hearing in the RM42 million SRC corruption case, ad hoc prosecutor Datuk V. Sithambaram argued that Najib had structured the company so that he would be the ultimate decision maker.

“As the (then) prime minister, the appellant (Najib) is vested with authority to appoint and dismiss directors of SRC, and to approve any amendment to the company’s memorandum and articles of association (M&A).

“He was an adviser emeritus (of SRC) under the M&A; and as the finance minister, under MoF Inc (he) was the sole shareholder of SRC,” Sithambaram said.

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