FORMER SRC International director Suboh Md Yasin, who has been under a witness protection programme, appeared in court today to testify as the prosecution’s 42nd witness. 

Suboh appeared frail and walked slowly with the assistance of a cane to the witness stand after his name was called. 

Suboh, 68, who was on the run for three years, surrendered last June to the Malaysian Anti-Corruption Commission. 

Appearing in a black suit and a white-collared shirt, he read his witness statement slowly.

Sources from the anti-graft agency told newspapers that he was placed under witness protection as they believed his life could be “in danger” although no specific threats were ever reported. 

Under the Whistle-blower Protection Act, a key witness will be housed at a secure undisclosed location until the conclusion of the trial he is to testify. 

Suboh is routinely named as a key figure in SRC International transactions, second to its former CEO Nik Faisal Ariff Kamil, who remains missing and is presumed to be living in Indonesia, according to reports. 

Suboh’s testimony thus far, before the lunch break, revolves around the setting up of SRC International leading up to the application of its first loan of RM2 billion from Retirement Fund Inc (KWAP) in 2011. 

Suboh testified that after he retired from civil service in 2009, he was appointed by Najib as an SRC International director on August 1, 2011.

He said his duties involved attending the board meetings to jointly make decisions on matters relating to SRC International.

He corroborated with previous witnesses that SRC International was set up in January 7, 2011 as a “strategic resource company” that will invest in natural resources such as coal, aluminium, iron and uranium.

The board also comprised chairman Ismee Ismail, CEO Nik Faisal Ariff Kamil, Shahrol Azral Ibrahim Haimi and Che Abdullah @ Rashidi, who are all appointed by former prime minister Najib Razak, who was the company’s adviser emeritus.

On February 14, 2012, all of SRC International’s shares were transferred from 1Malaysia Development Bhd to Minister of Finance Inc via Form 32A that was signed by Nik Faisal.

Suboh also confirmed that SRC International opened an account with AmIslamic Bank based on a directors’ circular resolution dated August 23, 2011 that he jointly signed.

He said he jointly signed AmBank forms to open a SRC International bank account numbered 211-202-201065-0.

SRC International later applied to Retirement Fund Inc (KWAP) for RM4 billion loans to fund “working capital and general overseas investments”.

He confirmed that SRC International received RM2 billion in 2011 and another RM2 billion in 2012.

Regarding the application for the first loan in 2011, Suboh said the matter was discussed in the board of directors meeting on August 23, 2011.

The proposal was tabled by Nik Faisal and proposal was to be supported by a government guarantee.

Suboh said the board agreed with the proposal. – June 20, 2019.