KUALA LUMPUR: The High Court was told today that the total amount of funds injected by 1Malaysia Development Berhad (1MDB) into PetroSaudi International Limited (PSI) and Good Star Limited (allegedly owned by Low Taek Jho or Jho Low) was US$1.83 billion (RM7.67 billion).
Former 1MDB and Terengganu Investment Authority Berhad (TIA) chief executive officer Datuk Shahrol Azral Ibrahim Halmi, 49, in his witness statement read out in court, said of the total, the amounts of US$500 million and US$330 million (RM2.1 and RM1.38 billion) to PSI were from syndicated bridging loans (short-term loans) worth RM2.5 billion made with Ambank and Standard Chartered.
This was because both banks were confident of the financial strength of 1MDB, which was under the purview of the Malaysian government (MOF Inc).
Shahrol Azral said he was feeling uneasy as it involved a huge investment, so he then asked the fugitive businessman, Jho Low to find a fast way for PSI to invest the money back in Malaysia.
“At least it could be brought back to Malaysia because many of 1MDB projects in Malaysia are underway. Jho Low took note of this and told me that he would try to bring the money back.
“I had asked him many times but he still gave the same response until I heard about the 1MDB issue involving PSI,“ said the ninth prosecution witness.
Shahrol Azral said he was confused as all the transactions were made based on investment between governments and fully supported by the Malaysian government through the mandate given by the prime minister (Najib).
“As I recall, many discussions on investment with PSI were held by the 1MDB board of directors (BOD) since 2010 ... you could say that the BOD wanted the investment with PSI to be brought back for local projects,“ he said on the 14th day of Najib’s trial.
Najib, 66, faces four counts of using his position to obtain bribes amounting to RM2.3 billion in 1MDB funds and 21 charges of money laundering involving the same funds.
The Pekan Member of Parliament is alleged to have committed four corruption offences at the AmIslamic Bank Berhad branch, Jalan Raja Chulan, Bukit Ceylon here between Feb 24, 2011 and Dec 19, 2014, and all the money laundering offences were committed at the same place between March 22, 2013 and Aug 30, 2013.
The hearing before Judge Collin Lawrence Sequerah continues. — Bernama
