KUALA LUMPUR: The High Court was told today that the Malaysian government had taken the responsibility to pay the debts of 1Malaysia Development Berhad (1MDB) amounting to US$3 billion if the company failed to do so.
Former non-executive director of 1MDB Tan Sri Ismee Ismail, 57, said this when referring to the government's letter of support to 1MDB dated March 14, 2013 signed by former Prime Minister Datuk Seri Najib Tun Razak who was also Finance Minister then.
He said the letter stated that the Malaysian government had taken note that 1MDB's subsidiary, 1MDB Global Investment Ltd (1MDB GIL) would be raising US$3 billion via a bond issuance to be paid in full in 2023.
"This document (letter) explains that if 1MDB GIL is unable to pay or there is a shortfall in paying this debt, 1MDB will provide financial assistance to pay the debt.
"Besides that, if 1MDB fails to pay the debt, then the Malaysian government will take the responsibility to finance 1MDB to pay the debt or directly pay the debt until it is settled.
"In other words, this letter is like a strong support from the Malaysian government to pay US$3 billion in bonds with interest created by 1MDB through 1MDB GIL," he said, adding that the letter of support was issued expeditiously by the government.
The 13th prosecution witness said this at the former prime minister's corruption and money laundering trial, involving RM2.3 million belonging to 1MDB.
Reading out a 111-page witness statement, Ismee said the approval for the US$3 billion fundraising was reached in a directors' circular resolution (DCR) dated March 12, 2013 while a letter of support was issued on March 14, 2013.
The witness said that almost all the decisions reached by 1MDB to make the US$3 billion fundraising a success was through DCR and Special Right Redeemable Preference Shareholders Resolution (SRR).
"Supposedly, a decision can be made either through the Board of Directors (BOD) meeting or through DCR and SRR. However, if an immediate decision is required, then it will usually be made through DCR and SRR.
Najib, 68, is facing four charges, namely using his position to obtain bribes amounting to RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial before Judge Datuk Collin Lawrence Sequerah continues on Dec 13.
-- BERNAMA
Bernama
Thu Nov 18 2021
The High Court was told today that the Malaysian government had taken the responsibility to pay the debts of 1Malaysia Development Berhad (1MDB) amounting to US$3 billion if the company failed to do so. - Astro AWANI photo
Pegawai, anggota bomba di lima negeri ada masalah kesihatan
Ujian Kemahiran Taktikal Kebombaan diduduki seramai 12,608 anggota dan pegawai dan hanya 9,313 sahaja yang lulus.
Kerajaan komited lahirkan lebih ramai teknousahawan
Anugerah Teknousahawan TVET@KKDW diperkenalkan bagi memberi pengiktirafan serta penghargaan kepada institusi, pengajar, pelajar, graduan dan alumni yang telah menunjukkan kecemerlangan dalam bidang keusahawanan TVET.
Kedah bakal bangunkan LRT di Langkawi
Kedah merancang membina sistem tren Transit Aliran Ringan (LRT) menggunakan teknologi levitasi magnet di Langkawi
Kes pedofilia MRSM Tumpat diklasifikasikan fitnah, tiada bukti kukuh
Kes pedofilia terhadap seorang guru Maktab Rendah Sains Mara di Tumpat diklasifikasikan sebagai fitnah selepas siasatan tidak menemui bukti kukuh berhubung kes itu, kata Ketua Polis Kelantan Datuk Muhamad Zaki Harun.
Kerajaan berusaha tangani inflasi, tingkat kuasa beli rakyat
Menurut Datuk Armizan Mohd Ali, kerajaan tidak berdiam diri dalam menangani masalah inflasi termasuk melalui pelaksanaan pelbagai bentuk intervensi seperti kawalan harga.
Keutamaan negara Asia Barat untuk penuhi hasrat rakyat Palestin
Sekiranya Palestin diberikan negara dan kebebasan, mana-mana pihak tidak perlu lagi campur tangan dan tidak ada lagi konflik di Timur Tengah.
WEF gemakan wawasan, keterbukaan Malaysia dalam tiga hasrat
Mesyuarat Khas Forum Ekonomi Dunia (WEF) menjadi platform untuk Malaysia menggemakan keterbukaan jalinan kerjasama untuk melonjakkan ekonomi negara.
Hari ketiga lawatan Perdana Menteri, Datuk Seri Anwar Ibrahim di Riyadh Arab Saudi membawa wawasan Malaysia memperkasa hubungan bilateral antara negara, selain perbincangan mengenai pelaburan dan usaha memperkasa jalinan kerjasama sedia ada.
Hari ketiga lawatan Perdana Menteri, Datuk Seri Anwar Ibrahim di Riyadh Arab Saudi membawa wawasan Malaysia memperkasa hubungan bilateral antara negara, selain perbincangan mengenai pelaburan dan usaha memperkasa jalinan kerjasama sedia ada.
Berita antarabangsa pilihan sepanjang hari ini
Antara pelbagai berita luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
Berita tempatan pilihan sepanjang hari ini
Berikut adalah berita yang paling menjadi tumpuan sepanjang Isnin, 29 April 2024.
WEF gemakan wawasan, keterbukaan Malaysia melalui tiga hasrat
Malaysia mahu perkasa hubungan bilateral antara negara, selain perbincangan mengenai pelaburan dan usaha mengukuhkan jalinan kerjasama sedia ada.