Najib details Jho Low's role in 1MDB

Former prime minister Najib Abdul Razak admitted in court today that he had known 1MDB-linked businessperson Low Taek Jho and he believed that the man could ease Malaysia's investment dealings in the Middle East.

Testifying in the High Court in Kuala Lumpur in his SRC International criminal trial, Najib said Low, who is better known as Jho Low, had presented himself as someone who was influential in the Middle East.

In answering a question from defence lawyer Muhammad Shafee Abdullah if Jho Low had any role in 1MDB after the company was taken over by the federal government, Najib said Low had been there since the company was first set up as the Terengganu Investment Authority (TIA) in 2009.

Jho Low was then the adviser to Terengganu Ruler Sultan Mizan Zainal Abidin in TIA, Najib said. For the record, Sultan Mizan was also the Yang di-Pertuan Agong at that time.

"Jho Low was the adviser to Tuanku Mizan in TIA. He had represented himself as someone with a big influence in the Middle East, which made me believe that he should be able to assist in investment dealings and shareholdings with them," Najib said, reading from a prepared witness statement.

"At that time, these countries, meaning the countries in the Middle East, were already having cash overflow due to the increase in oil price. Thus, I was of the opinion that the influence and connection that Jho Low had would be able to ease 1MDB in achieving its objectives and investments as intended." 

It was the first day Najib testified from the witness stand after being called to enter his defence.

This was also the first time a former Malaysian prime minister has testified as a witness in a criminal trial involving himself.

According to Najib, Low was a close acquaintance of Sultan Mizan and his sister Tengku Rahimah Sultan Mahmud.

The concept of TIA, which is now known as 1MDB, was born from discussions between Sultan Mizan, Low and the Terengganu government.

"The concept of TIA, as I understand it, had come from discussions between Jho Low and His Royal Highness, and the Terengganu government," Najib added.

"I was made to understand that Jho Low was appointed as an adviser to the then chairperson of TIA Board of Advisors, which was Tuanku himself."

Read the live coverage of Najib's testimony here.  - Mkini