The High Court today was told that the joint venture (JV) agreement, rather than Memorandum of Understanding (MoU) between 1Malaysia Development Berhad (1MDB) and Aabar Investment PJS was done in a hurry because it was directed by the Prime Minister’s Office (PMO).
Former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi said although it was proper to sign the MoU first before inscribing the JV agreement, it was not necessary as the details on the agreement were moved by the PMO.
“I was told by Datuk Seri Najib Tun Razak’s former principal private secretary, the late Datuk Azlin Alias, that it was imperative to have the JV agreement ready before the visit of the Crown Prince of Abu Dhabi to Malaysia, hence it needs to be done before his visit.
“I remember there was an email sent by Azlin, who forwarded us a copy of an email from Abu Dhabi entrepreneur, Khaldoon Khalifa Al-Mubarak stating the terms of the JV. It was sent late 2012 or early 2013. I took it in good faith it was a government-to-government (G2G) initiative,” said the ninth prosecution witness.
He said this during cross-examination by lawyer Wan Aizuddin Wan Mohammed at Najib’s RM2.3 billion 1MDB graft trial.
Shahrol Azral further clarified that it was not his idea to push for the timeline of the JV agreement because it was fully managed by 1MDB legal counsel, Jasmine Loo, and at the same time being moved forward by the PMO.
“The instruction (to finalise the JV agreement) came from PMO via the instruction and talking points from the fugitive businessman, Low Taek Jho or Jho Low.
“Among the things that were finalised in the agreement was 1MDB and Aabar need to inject RM3 billion each before the director of the JV company can be appointed,” he said.
The fundraising for the JV was part of the terms and conditions regarding a land deal on the development of Kuala Lumpur International Financial District (now known as TRX) between Aabar and 1MDB.
Wan Aizuddin then raised an issue regarding the agreement, where all the documents pertaining to the JV had been finalised, yet the agreement was never materialised until 2014.
Wan Aizuddin: What else the JV is lacking that the JV company is still waiting to execute the development?
Shahrol Azral: We are waiting for a similar indication from Aabar that they have injected the RM3 billion. At the company level, all parties need to do the sign-off.
Wan Aizuddin: So there was no confirmation that Aabar has injected the RM3 billion on their part?
Shahrol Azral: No and the terms of the agreement was never revisited.
Wan Aizuddin: What did you know about the RM3 billion (from 1MBD side) that has been raised for the purpose of the JV?
Shahrol Azral: From what I remember, it was kept in 1Malaysia Development Berhad Global Investment Limited (1MDB GIL) account and managed in cash management account that generated income return while we wait for the JV to be finalised.
Najib, 67, faces four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial before Justice Collin Lawrence Sequerah continues Sept 1.
-- BERNAMA
Bernama
Mon Aug 17 2020
Shahrol Azral said it was not necessary as the details on the agreement were moved by the PMO.
Potensi dilanda tsunami, pihak berkuasa tingkatkan amaran
Pihak berkuasa Indonesia tingkatkan lagi amaran Gunung Ruang di Sulawesi dengan mengeluarkan amaran tsunami susulan berlakunya sekali lagi letusan gunung ruang di wilayah Sulawesi utara pada Rabu.
Houthi tembak Kapal Tangki Minyak Andromeda Star di Laut Merah
Kumpulan Houthi terus melancarkan serangan ke atas kapal komersial di Laut Merah dan terbaharu serangan peluru berpandu mengenai kapal tangki minyak Andromeda Star.
Ratusan rumah, bangunan rosak dibadai puting beliung
Ratusan rumah, bangunan dan ladang ternakan di Omaha, Nebraska rosak akibat kejadian Puting beliung yang membadai kawasan itu pada petang Jumaat.
Hamas sudah terima maklum balas Israel mengenai cadangan gencatan senjata
Rundingan sebelum ini pada November lepas menyaksikan pembebasan 81 rakyat Israel dan 24 warga asing dengan pertukaran 240 warga Palestin termasuk 71 wanita dan 169 kanak-kanak.
95 kanak-kanak mangsa diselamatkan di India
Seramai 95 kanak-kanak berumur empat hingga 12 tahun diselamatkan di Uttar Pradesh di utara India, dipercayai mangsa pemerdagangan manusia dari negeri jiran, Bihar.
Pesara tentera diminta kemaskini data di JHEV
Jelas Adly setakat ini lebih 213 ribu veteran berdaftar dengan jabatan tersebut, berbanding sekitar 300,000 yang telah bersara dalam perkhidmatan.
10 Berita Pilihan - (27 April 2024)
Antara pelbagai berita dalam dan luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
Tumpuan Ahad - 28 April 2024
Ikuti rangkuman berita utama yang menjadi tumpuan di Astro AWANI.
AWANI Ringkas: UM mohon maaf kepada rakyat Malaysia
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Jangan sentuh isu 3R sepanjang kempen PRK Kuala Kubu Baharu
Suruhanjaya Komunikasi dan Multimedia Malaysia (MCMC) diminta untuk meningkatkan pemantauan bagi mengesan sebarang hantaran yang menyalahi undang-undang.
Jho Low masukkan wang RM100 juta sebagai hadiah kepada bekas peguam 1MDB
Bekas peguam 1Malaysia Development Berhadmengaku di Mahkamah Tinggi bahawa beliau menerima hadiah RM100 juta daripada ahli perniagaan dalam buruan Jho Low, walaupun telah meninggalkan syarikat itu.
'Saya percayakan Jho Low sebab dia sudah miliki wang berjuta' - Jasmine Loo
Bekas peguam 1MDB memberitahu Mahkamah Tinggi Kuala Lumpur pada Jumaat bahawa tidak terlintas di fikirannya ahli perniagaan dalam buruan Jho Low adalah seorang penipu.
Utusan Malaysia mohon maaf kepada pembaca
Portal berita tempatan Utusan Malaysia memohon maaf selepas menerbitkan artikel berhubung pengampunan bekas Perdana Menteri, Datuk Seri Najib Tun Razak.
Najib tidak maklumkan terbitan bon AS$3.5 bilion kepada Kabinet
Mahkamah Tinggi hari ini diberitahu Datuk Seri Najib Tun Razak tidak memaklumkan Kabinet mengenai terbitan bon AS$3.5 bilion.
Najib disyaki terima AS$681 juta untuk beli undi PRU13 - SPRM
Seorang pegawai penyiasat SPRM memberitahu Mahkamah Tinggi di sini pada Selasa bahawa, Datuk Seri Najib Tun Razak disyaki menerima AS$681 juta untuk membeli untuk PRU13 pada 11 tahun lalu.
Najib belanja RM80,000 untuk ubat cegah kanser pada 2013 - Pegawai penyiasat
Mahkamah diberitahu bahawa Datuk Seri Najib Tun Razak membelanjakan RM80,000 pada 2013 untuk suplemen dan vitamin bagi pencegahan kanser daripada wang derma.
Muhyiddin titipkan doa buat Najib
Semalam, Menteri Kesihatan, Dr Zaliha Mustafa dalam sidang media di Parlimen turut mengesahkan masalah kesihatan yang sedang dihadapi Najib.
Berita tempatan pilihan sepanjang hari ini
Berikut adalah berita yang paling menjadi tumpuan sepanjang Selasa, 15 Ogos 2023.
1MDB: Kerajaan sita, lucut hak harta lebih RM83 juta
Kerajaan sudah menyita dan melucut hak pelbagai harta bernilai lebih RM83 juta berkait kes penyelewengan dana 1Malaysia Development Berhad (1MDB) setakat ini.
SPRM percaya Jho Low sembunyi di Macau - Laporan
Suruhanjaya Pencegahan Rasuah Malaysia (SPRM) percaya bahawa ahli perniagaan dalam buruan Low Taek Jho atau Jho Low bersembunyi di Macau.