FROM BEGINNING TO END, IT WAS NAJIB: EX-PMB HAD ‘ULTIMATE POWER’ IN 1MDB DECISIONS – EVEN THOUGH JHO LOW BUSIED HIMSELF TYPING LETTERS IN HIS BEDROOM ON TIA’S BEHALF

 New witness, former 1Malaysia Development Bhd (1MDB) president and CEO Datuk Shahrol Azral Ibrahim Halmi (left) walking to the High Court after the break yesterday. IZZRAFIQ ALIAS / The Star. September 23, 2019.

KUALA LUMPUR – Former prime minister Datuk Seri Najib Razak had “ultimate power” in decisions involving the finances of 1Malaysia Development Bhd or its earlier entity, Terengganu Investment Authority Bhd (TIA).

Former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi, 49, told the High Court that as the number one man in the country, Najib had the ultimate power to make decisions on big investments, funds and national policies.

“This is in accordance with Article 117 of the Memorandum and Articles of Association (M&A) which stated that any action must have written permission from the prime minister.

“At the level of the board of directors, we are subjected to always report and ask for the opinion and mandate from the prime minister before making any big decisions, ” he said.

Shahrol added that the power to appoint the board of directors (BOD) and the board of advisors (BOA) fell under the absolute power of the prime minister.

For decisions that needed immediate action, Shahrol said he would go to fugitive financier Low Taek Jho, who was the unofficial adviser of TIA and 1MDB for Low to obtain the advice of Najib.

TIA was set up as a sovereign wealth fund on Feb 27,2009, and later changed its name to 1MDB on Sept 25 the same year.

Shahrol was in an examination-in-chief conducted by lead prosecutor Datuk Seri Gopal Sri Ram here on Tuesday (Sept 24).

Sri Ram had referred the witness to 1MDB’s M&A document which was amended during an extraordinary general meeting on Aug 11,2009.

The witness said the M&A was prepared based on a discussion by several individuals including himself and Low at the beginning of TIA.

The amendment in the document confirmed that the highest power in 1MDB was that of the prime minister, as well as the change in TIA’s ownership to the Federal Government through the Ministry of Finance Inc (MOF Inc).

“I remember Low (better known as Jho Low) ordered for the words “Federal Government of Malaysia” to be changed to “Prime Minister” in the amendment because Low said Najib wanted to make sure there was no ambiguity,” he added.

Najib, 66, faces 25 charges in total – four for abuse of power that allegedly brought him financial benefit to the tune of RM2.3bil; and 21 for money laundering involving the same amount of money.

He faces imprisonment of up to 20 years and a fine of up to five times the sum or value of the gratification or RM10,000, whichever is higher, if found guilty.

Shahrol will continue his testimony before Justice Collin Lawrence Sequerah on Wednesday (Sept 25).

– ANN

Jho Low wrote letter on behalf of TIA in his bedroom, court hears

KUALA LUMPUR: Fugitive businessman Low Taek Jho wrote a letter on behalf of the Terengganu Investment Authority Bhd (TIA) in his bedroom, the High Court heard.

Former 1Malaysia Development Bhd (1MDB) CEO Datuk Shahrol Azral Ibrahim Halmi, 49, testified that he and Low, or better known as Jho Low, wrote the letter at Low’s apartment in Jalan Kia Peng here.

“At one point he would be typing and then I would be typing. We took turns,” he said during an examination-in-chief conducted by lead prosecutor Datuk Seri Gopal Sri Ram here on Tuesday (Sept 24).

Sri Ram had referred the witness to a letter from TIA dated June 22,2009 and addressed to the prime minister and the finance minister.

The ninth witness in the 1MDB trial added that as they went through the content, Low would indicate which parts in the letter that Datuk Seri Najib Razak would have liked.

“Low was telling me this is the sort of thing that was discussed and expected by the recipient (Najib),” he added.

Najib, 66, faces 25 charges in total – four for abuse of power that allegedly brought him financial benefit to the tune of RM2.3bil and 21 for money laundering involving the same amount of money.

He faces imprisonment of up to 20 years and a fine of up to five times the sum or value of the gratification or RM10,000, whichever is higher, if found guilty.

The hearing continues Wednesday (Sept 25) before Justice Collin Lawrence Sequerah.

– ANN

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