KUALA LUMPUR: The joint-venture (JV) project between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Ltd (PSI) was created by the personal relationship between Datuk Seri Najib Tun Razak and the late King of Saudi Arabia, Abdullah Abdul Aziz al Saud, the High Court heard yesterday.
The former chief executive officer of 1MDB, Datuk Shahrol Azral Ibrahim Halmi, 49, said he only came to know the matter through fugitive businessman Low Taek Jho, better known as Jho Low.
The ninth prosecution witness said this when cross-examined by Najib’s lawyer, Tan Sri Muhammad Shafee Abdullah, on the 23rd day of the former prime minister’s trial involving 1MDB funds.
Muhammad Shafee: From who did you know this ( JV between PSI and 1MDB was created by the personal relationship between Najib and King Abdullah)?
Shahrol Azral: Jho Low told me that the JV between PSI and 1MDB was created by the personal relationship between Najib and King Abdullah. Jho Low told me that apparently, he was there during a discussion on a yacht during one of their holidays.
Muhammad Shafee: What do you mean by personal? Do you mean that Najib’s personal relationship with the head of Saudi Arabia would assist with the venture between 1MDB and PSI?
Shahrol Azral: I would go even one step further to say that the JV was created by this personal relationship.
To another question, the witness agreed that as the CEO of 1MDB that time, he was supposed to ensure the execution of the JV and to work out the details of the collaboration.
Asked whether he was concerned that RM4.3 billion in 1MDB account was to be utilised for a good purpose, Shahrol Azral said, “it was a good purpose because it was between government-to-government (G2G)”.
When queried whether he assumed there would be no undercutting, misrepresentation, no cheating because it was a G2G, the witness replied: “Yes…This was represented to me as something that was personal between Najib and the King Abdullah.
Najib, 66, 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.
Hearing before Judge Collin Lawrence Sequerah continues, with senior deputy public prosecutor and former Federal Court judge Datuk Seri Gopal Sri Ram leading the prosecution. — Bernama