High Court Orders Najib to Pay SRC US$1.3 Billion
- Muhammad Ikmal Fahmi Bin Che Mohamood
- 6 minutes ago
- 1 min read
KUALA LUMPUR, 31/3/2026 (FMT) - The Kuala Lumpur High Court has ruled that former prime minister Najib Razak must pay SRC International Sdn Bhd a total of US$1.3 billion. The judgment stems from Najib’s breach of fiduciary duties, which resulted in losses of US$1.18 billion, alongside US$120 million misappropriated into his personal bank account.
Justice Ahmad Fairuz Zainol Abidin found that Najib acted in bad faith, abusing his position and deliberately bypassing safeguards to channel funds to offshore entities. The court described him as a “shadow director,” exercising extensive control over SRC’s operations without proper oversight.
Najib’s conduct included concealing material information from the Cabinet and preventing investigations that could have recovered misappropriated assets. The judge concluded that these actions demonstrated reckless disregard for his authority and the company’s welfare.
The ruling also noted that a default judgment had been entered against former SRC CEO Nik Faisal Ariff Kamil, who remains at large. Claims against other former directors were dismissed.
Najib has been granted an interim stay while he files a formal appeal within 14 days. Costs will be determined later.
Source: Free Malaysia Today