KUALA LUMPUR: The High Court here was told yesterday that former Prime Minister Datuk Seri Najib Tun Razak had given approval for a subsidiary of 1Malaysia Development Berhad (1MDB) to own 49 percent of the ‘issued share capital’ in PetroSaudi Oil Service Limited (PSOSL), worth more than USD2.2 billion.
Former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi, 49, when reading out his witness statement, said Najib had signed the ‘Shareholder’s Resolution’, giving approval to 1MDB International Holdings Limited (BVI) to own the shares.
“I confirm the signature on this document is that of Datuk Seri Najib,” he said during examination-in-chief by senior deputy public prosecutor Datuk Seri Gopal Sri Ram on the 16th day of Najib’s trial involving the 1MDB funds.
Shahrol Azral said based on the 1MDB Directors’ Circular Resolution (DCR) dated June 20, 2012, he was authorised to carry out negotiation and handle the documentation for the purchase of the shares on behalf of 1MDB BVI.
“One of the senior management members sent the DCR to my office to be signed,” he said, and told the court that his signature was on page two of the document, which also included the ‘Shareholders Resolution and Minutes by Representative’ which had been signed by Najib.
However, all the documents had no date, he added.
Najib is facing four charges of using his position to obtain gratification totalling RM2.3 billion in 1MDB funds and 21 counts of money laundering related to the amount.
The Pekan Member of Parliament is alleged to have committed the gratification offences at the Jalan Raja Chulan branch of AmIslamic Bank Berhad, No.
55, Jalan Raja Chulan, Bukit Ceylon here between Feb 24, 2011 and Dec 19, 2014, and the money laundering offences, between March 22, 2013 and Aug 30, 2013, at the same place.
The hearing before Justice Collin Lawrence Sequerah continues next Monday. — Bernama