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Najib discloses RM4.49 million in assets

These include several plots of land and property, luxury vehicles and cash.

2 minute read
Former prime minister Najib Razak.
Former prime minister Najib Razak.

Najib Razak has declared assets including several plots of land and property in Pahang and Selangor, luxury vehicles including Mercedez-Benz cars and a Bentley Continental Flying Spur, and cash, all amounting to RM4.49 million.

The disclosure was made after SRC International Sdn Bhd and its subsidiary, Gandingan Mentari Sdn Bhd, as plaintiffs, obtained a Mareva injunction from the Kuala Lumpur High Court to prevent the former prime minister from transferring or disposing of any of his assets worth up to RM42 million.

A Mareva injunction is a temporary order that prevents the defendant from disposing of assets pending the outcome of a legal action.  

On March 24, judicial commissioner Mohd Arief Emran Arifin ordered the Pekan MP to disclose to SRC International’s lawyers in writing his assets in or outside of Malaysia, up to the value of RM42 million, within 30 days of the order being served.

Arief Emran directed that Najib cannot remove, dispose of, deal with or diminish the value of any of the assets in and outside Malaysia up to the value of RM42 million, pending the final determination of the suit.
However, he is entitled to draw and expend from a bank account or other sources a sum not exceeding RM100,000 per month for his ordinary living and legal expenses.

Based on documents obtained by the media today, Najib, 69, revealed his assets as of June 30 this year in an additional affidavit filed on July 20 through Messrs Shafee & Co.

Among them are pieces of land and property in Pekan, Kuantan, Bentong and Genting Highlands in Pahang, as well as Semenyih in Selangor, valued at RM460,987; five Mercedez-Benz vehicles and a Bentley Continental Flying Spur, four of which were gifts from his in-laws from Kazakhstan; a Honda EX-5 motorcycle and a Kawasaki ZG motorcycle (gifts), all worth RM252,000.

Najib also disclosed that he had a total of RM1.24 million in an Affin Bank account and a deposit of RM2.52 million with Amanah Saham Nasional Bhd.

In the affidavit filed on April 25, Najib confirmed that he did not have assets amounting to RM42 million.
The matter was confirmed by his lawyer Muhammad Farhan Muhammad Shafee.

When contacted, Farhan said that during the proceedings before judge Amarjeet Singh today, they had withdrawn an application to postpone the proceedings in the SRC International suit.

"We withdrew the application on the condition that the statement of defence must be filed within two months from today," he said, adding that the next case management was set on Oct 13.

SRC International, a subsidiary of 1MDB and Gandingan Mentari Sdn Bhd, a wholly-owned subsidiary of SRC, filed a writ of summons on May 7 last year accusing Najib of breach of trust, abuse of power and obtaining personal benefits from SRC International funds in addition to misappropriating the said funds.