Najib had personal interest in SRC since its inception, appeal court hears

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Najib Abdul Razak already had a personal interest in SRC International since the inception of the company, the Court of Appeal heard today.Deputy public prosecutor V Sithambaram submitted that the former premier’s personal interest is shown by the insertion of his role as then prime minister in the memorandum of association (MOA) of SRC. The company was set up in January 2011.The DPP contended that this is shown by Article 67 of SRC’s MOA.In the Kuala Lumpur High Court’s written grounds over Najib’s conviction in the RM42 million SRC corruption case, trial judge Mohd Nazlan Mohd Ghazali referred to Article 67, which granted the power to Najib to hire and fire board members of SRC.SRC, which was once a subsidiary of troubled sovereign wealth fund 1MDB, later became fully owned by the Minister of Finance Incorporated.Besides being the former premier, Najib was also finance minis…