The criminal trial of former prime minister Najib Abdul Razak involving the alleged abuse of power and money laundering of 1MDB funds enters its 19th day today at the High Court in Kuala Lumpur.
Malaysiakini brings you live reports of the proceedings.
KEY HIGHLIGHTS
- Terengganu MBI removed Shahrol from TIA in 2009
- Shahrol admits no evidence Najib knew of Jho Low's wrongdoings
- Jho Low avoided signing docs to avoid probes - Shahrol
- Najib displayed 'neutral face' when told about ex-Agong's 'displeasure'
- 'Unsavoury character' - Sultan Mizan probably referring to Jho Low
- Phone ringing for 20 seconds during Najib's trial prompts warning
- 'Someone in AmBank could've been pulling the strings'
- Jho Low-linked company made RM74m from 1MDB bonds
- AmBank purposely hid facts on bond subscribers from 1MDB - Shahrol
- Jho Low was sole link between 1MDB, ex-CEO and Najib, court hears
- Verbal spar erupts between Shahrol and Shafee over RM5b bond issue
- Ex-1MDB CEO identifies other witnesses in court
- More revelations about Jho Low's activities expected in court
Thank you for following Malaysiakini's live report
Thank you for following our live report today.
Court adjourns for the day
4.30pm - Kuala Lumpur High Court judge Collin Lawrence Sequerah allows proceedings to adjourn for the day and to resume tomorrow morning.
Terengganu MBI removed Shahrol from TIA in 2009
4pm - The court hears that Terengganu Menteri Besar Incorporated (MBI) had removed Shahrol Azral Ibrahim Halmi as Terengganu Investment Authority (TIA) CEO, the precursor of 1MDB, in May 2009.
During Shahrol's cross-examination, lead defence lawyer Muhammad Shafee Abdullah displays an ordinary shareholder resolution by Terengganu MBI dated May 27, 2009.
The resolution stated that Terengganu MBI had disagreed with the issuance of TIA bonds, for which they listed several reasons, and that they decided to remove Shahrol from his position in TIA.
Shahrol confirms his removal by Terengganu MBI but says that he never knew the reason.
He says that he was never told the reason until today.
Shahrol admits no evidence Najib knew of Jho Low's wrongdoings
3.35pm - Ex-1MDB CEO Shahrol Azral Ibrahim Halmi admits that he has no evidence that former prime minister Najib Abdul Razak was aware of Jho Low's wrongdoings in relation to the proposed Pulau Bidong development project.
He makes this admission during cross-examination by lead defence counsel Muhammad Shafee Abdullah.
Shafee questions Shahrol (photo) whether he has any evidence that Najib was aware of Jho Low's manoeuvrings on the Pulau Bidong project, where the wanted businessperson allegedly kept the witness and Najib in the dark.
Shafee: Do you have any evidence? The fact that he (Jho Low) made a profit under your nose, do you have evidence that the PM (then prime minister Najib) knew?
Shahrol: I have no evidence.
During this exchange, lead DPP Gopal Sri Ram reiterates that it is the prosecution's stance that Najib had knowledge about the matter.
Jho Low avoided signing docs to avoid probes - Shahrol
3.12PM - Former 1MDB CEO Shahrol Azral Ibrahim Halmi agrees with the defence's contention that Jho Low avoided signing signatures on 1MDB-linked documents to avoid being implicated in any probe.
He tells the court this during cross-examination from Najib Abdul Razak's lead defence counsel Muhammad Shafee Abdullah.
Shafee: It is surprising that Jho Low's signature has not appeared anywhere?
Shahrol: Yes.
Shafee: Using nominees, he (Jho Low) himself has not made any personal appearance via signature or anything of that sort?
Shahrol: Yes.
Shafee: He does not want any investigation to point to him and he disavows any knowledge or undertaking, hence no signature?
Shahrol: It's possible.
Proceedings resume after lunch break
2.39 pm - Proceedings resume after the lunch break with lead defence counsel Muhammad Shafee Abdullah continuing his cross-examination of former 1MDB CEO Shahrol Azral Ibrahim Halmi.
12.40pm - High Court judge Collin Lawrence Sequerah allows proceedings to adjourn for lunch and to resume at 2.30pm.
Najib displayed 'neutral face' when told about ex-Agong's 'displeasure'
12.27pm - Then prime minister Najib Abdul Razak's face looked neutral when told about then Agong Sultan Mizan Zainal Abidin's displeasure (murka) over the Terengganu Investment Authority's (TIA) RM5 billion bonds issuance, the court hears.
Former 1MDB CEO Shahrol Azral Ibrahim Halmi testifies that this incident took place at Najib's house in May 2009.
TIA was later acquired by Minister of Finance Inc and transformed into 1MDB.
In a witness statement, Shahrol adds he was made by the former Agong to sign a TIA resolution to cancel the issuance of the bonds, also in May 2009.
After that, Shahrol testifies that he met Najib at his house in Langgak Duta.
"When he asked me why the Agong was murka (displeased) and I replied I did not know... I do not recall bafflement, very neutral," he says.
When lead lawyer Muhammad Shafee Abdullah asks if this meant Najib then did not know the reason for the royal displeasure, Shahrol agrees.
'Unsavoury character' - Sultan Mizan probably referring to Jho Low
12.20pm - Shahrol Azral Ibrahim Halmi, a former 1MDB CEO, says that Sultan Mizan Zainal Abidin was probably referring to Jho Low when the ruler uttered "unsavoury character" remark during a meeting in 2009.
The witness is referring to a meeting on May 22, 2009, when the sultan was said to be upset and ordered for suspension of Terengganu Investment Authority (TIA) bonds issuance.
Shahrol testifies that he believes this was probably the case, given the hindsight of the situation.
However, Shahrol adds he could not say for sure as he cannot speak for Sultan Mizan (above), who was then the Yang di-Pertuan Agong.
Phone ringing for 20 seconds during Najib's trial prompts warning
11.36am - Any further handphone that rings during proceedings will be confiscated, the Kuala Lumpur High Court warns.
A court interpreter issues the warning after a phone ring was heard from the public gallery.
Lead defence counsel Muhammad Shafee Abdullah's cross-examination of former 1MDB CEO Shahrol Azral Ibrahim Halmi is brought to a halt when the ringing reverberates.
Judge Collin Lawrence Sequerah, lawyers and DPPs turn their gaze to the front row of a public gallery, where a woman is seen trying to switch off her smartphone which was ringing for 20 seconds.
After the ringing stops, Shafee quips that it is not his client Najib Abdul Razak as he is in the dock.
However, a clearly unamused Sequerah tells the court interpreter to issue the reminder to everyone in court, especially those in the public gallery, to silence their smartphones. Otherwise, it will be seized.
'Someone in AmBank could've been pulling the strings'
A former 1MDB CEO agrees that someone in AmBank could have been pulling the strings to sell 1MDB bonds at a discounted price to a company linked to Jho Low in 2009.
Shahrol Azral Ibrahim Halmi testifies this when he is being cross-examined by lead defence counsel Muhammad Shafee Abdullah on what transpired in May 2009 which saw 1MDB only receiving RM4.3 billion for the issuance of its RM5 billion bonds.
The witness agrees to a suggestion by Shafee that it could not be AmBank as an entity which sold RM700m worth of 1MDB bonds at a discounted price to Aktis Capital Singapore Ltd, but rather someone inside it.
This was due to the fact that AmBank could have made a profit by selling the bonds to other companies at its face value.
According to an agreement document between AmBank and Aktis as the bonds' secondary subscriber, the bank only made some RM70,000 from its fees as a placement agency for Aktis.
Shafee: I won't accuse Ambank as a whole. I say someone in Ambank. So Ambank suffered a loss. Profit was made by some people.
Jho Low-linked company made RM74m from 1MDB bonds
11.20am -The court hears that a company linked to Jho Low (photo), Aktis Capital Singapore Ltd, had made about RM83 million in just a few days by subscribing to 1MDB bonds at a discounted price before reselling it at face value.
According to the document presented in the court during defence's cross-examination on former 1MDB CEO Shahrol Azral Ibrahim Halmi, Aktis had made secondary subscription of 1MDB Islamic medium-term notes (IMTN) worth RM700m for only slightly above RM617m in May 2009.
This was done through AmBank Group, which was the primary subscriber of 1MDB bonds up to RM5 billion.
The difference in amount went to fees involved in the deal, including some RM70,000 which AmBank made as a placement agent for Aktis.
AmBank purposely hid facts on bond subscribers from 1MDB - Shahrol
10.30am - AmBank Group purposely hid facts from 1MDB on Aktis Capital and Country Group being secondary subscribers of 1MDB bonds in 2009, a witness tells the court.
Shahrol Azral Ibrahim Halmi, who is a former 1MDB CEO, testifies this under cross-examination by lead defence counsel Muhammad Shafee Abdullah.
He, however, declines to speculate on why the bank might have wanted to do so.
Shafee: So you are going on record that you were never informed by Ambank that Aktis and Country Group was involved as secondary subscribers?
Shahrol: Yes.
The witness then agrees to a suggestion by Shafee that given the hindsight of the situation now, AmBank had purposely hidden the facts.
Earlier, Shahrol testifies that 1MDB board of directors had in Oct 2009 summoned AmBank to explain why 1MDB only received some RM4.3 billion for its RM5 billion Islamic medium-term notes (IMTN), instead of its face value.
He says that presentation by AmBank to the board did not reveal about Aktis and Country Group being 1MDB's secondary board subscribers.
According to Shahrol, they were only told that 1MDB bonds were subscribed by the EPF, Socso, and insurance companies.
The witness adds that the most vocal board member who queried about the IMTN value was 1MDB chairperson then, Bakke Salleh (above).
Jho Low was sole link between 1MDB, ex-CEO and Najib, court hears
10.15 - Jho Low was the sole link between then 1MDB CEO Shahrol Azral Ibrahim Halmi and its sole shareholder Najib Abdul Razak, the High Court hears.
Shahrol, the 9th witness, says this during cross-examination by lead defence counsel Muhammad Shafee Abdullah.
Shafee is asking Shahrol about wanted businessperson Jho Low's role in 1MDB meetings.
"He (Low) was the sole link between 1MDB, me and sole shareholder Najib," Shahrol testifies.
When Shafee asks who was the sole shareholder of 1MDB in 2009, he replies it was Minister of Finance Incorporated.
Najib was finance minister and later prime minister in 2009.
Verbal spar erupts between Shahrol and Shafee over RM5b bond issue
9.57am - Shahrol Azral Ibrahim Halmi and lead defence counsel Muhammad Shafee Abdullah verbally spar over whether the former 1MDB CEO had tried to find out what happened to the sovereign wealth fund's RM5 billion bond issue in 2009.
It happens during cross-examination when Shafee asks Shahrol whether the witness had queried AmBank, which was arranging the bond issue, on the breakdown of the bond issue.
When Shahrol answers "I do not know", Shafee (photo) reminds the witness that he, as then 1MDB CEO, had the right to ask about it.
Shahrol: I did not (ask) at the time.
Shafee: You have the right to ask.
Shahrol: I do not know. You are telling me as a defence counsel. I need advice from counsel (prosecution).
Shafee: Why do you need to ask (prosecution)? You were 1MDB CEO.
Shahrol: I do not know.
Matters calm down when Shahrol reveals that the 1MDB board on two occasions in 2009 called AmBank to explain the matter.
Ex-1MDB CEO identifies other witnesses in court
9.50am - The hearing starts with the prosecution calling some nine witnesses into the court for identification by former 1MDB CEO, Shahrol Azral Ibrahim Halmi.
They include former 1MDB chairpersons Bakke Salleh and Lodin Wok Kamaruddin, former 1MDB director Ismee Ismail, Najib Abdul Razak's former aide Wan Ahmad Shihab, former 1MDB chief financial officer Azmi Tahir, 1MDB's former company secretary Lim Poh Seng, police investigator Rajagopal, and Goh Gaik Kim.
Shahrol then identifies all of them in court for record purposes.
9.46am - Accused Najib Abdul Razak steps into the dock as proceedings begin, with former 1MDB CEO Shahrol Azral Ibrahim Halmi in the witness stand ready to be cross-examined by lead defence counsel Muhammad Shafee Abdullah.
More revelations about Jho Low's activities expected in court
Najib Abdul Razak's defence team's cross-examination of former 1MDB CEO Shahrol Azral Ibrahim Halmi enters the third day in the former prime minister's RM2.28 billion 1MDB trial today.
As the 19th day of the trial resumes before Kuala Lumpur High Court judge Collin Lawrence Sequerah this morning, lead defence counsel Muhammad Shafee Abdullah will continue his questioning of ninth witness Shahrol.
Over the past few days, the defence's line of cross-examination of Shahrol has been that wanted businessperson Low Taek Jho or Jho Low acted as the architect of the scandal working behind the scenes, such as in the alleged suspicious diverting of funds from the RM5 billion Islamic Medium Term Notes (IMTN) issuance by 1MDB in 2009.
Yesterday under Shafee's grilling, Shahrol admitted he did not know that Jho Low-linked company Aktis Singapore Private Limited, through AmBank Group, subscribed to the bonds right under the nose of the witness, who was then 1MDB CEO, on May 18, 2009.
The witness testified that it came as a shock to him as he only found out last year through the media and when the police took him in for questioning. - Mkini
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.