KUALA LUMPUR – The High Court today approved Datuk Seri Najib Tun Razak’s request for a stay of execution on the USD1.3 billion payment awarded to SRC International Sdn Bhd, pending his appeal against the court’s March ruling.
Judge Datuk Ahmad Fairuz Zainol Abidin, now serving as a Court of Appeal judge, said the stay was justified due to “special circumstances.” These include the extraordinary size of the sum imposed on a single individual, the precedent of a stay in Najib’s RM1.69 billion tax case, and fines from his criminal convictions.
“The factors relevant for consideration are the unprecedented magnitude of the monetary judgment entered against the defendant, the concurrence of equally unprecedented monetary judgment against the defendant in the Inland Revenue Board (IRB) suit, and the criminal liabilities which attract monetary penalties.
“These simultaneous judgments and orders faced by the defendant, when taken together, make up special circumstances on why a stay is to be granted.”
He added: “It is best that the case be finally determined at the highest level before any enforcement is allowed.”
During a Zoom proceeding today, Justice Ahmad Fairuz ordered Najib to pay RM2 million in costs to SRC International, and RM150,000 each to five third-party defendants named in the suit. The March ruling had not specified the costs owed by Najib to SRC or these third-party defendants.
The five third-party defendants are former directors Tan Sri Ismee Ismail, Datuk Suboh Md Yassin, Datuk Mohamed Azhar Osman Khairuddin, Datuk Shahrol Azral Ibrahim Halmi, and Datuk Che Abdullah @ Rashidi Che Omar. SRC International’s counsel, Luc Choong, confirmed the order following the hearing.
On March 31, the High Court found Najib liable for SRC International’s USD1.3 billion losses, concluding that he had breached his fiduciary duties, abused his position, and misappropriated company funds for personal gain. The court ordered Najib to pay the USD1.18 billion lawsuit amount, in addition to USD120 million previously received into his AmPrivate banking account ending 694.
The court also rejected Najib’s claims against the five third-party directors, ruling that as the individual who exercised control over SRC, he could not shift responsibility onto those who merely executed his directives. SRC filed the lawsuit in May 2021, alleging breach of fiduciary duties, abuse of power, and misappropriation of company funds. – May 13, 2026