HIGHLIGHTS
- Proceedings end early, Shafee to prepare for Cradle Fund CEO murder trial
- Jho Low, Tim Leissner matchmakers for Najib-Goldman Sachs CEO meeting
- Sri Ram reveals how Good Star sent US$9 million to Red Granite Pictures
- Shahrol says Jho Low promised to confirm Good Star ownership
- I asked for PetroSaudi to reinvest 1MDB money into M'sia - Shahrol
- 'PSI complained to King Abdullah over reduced payment from 1MDB'
- Ex-1MDB CEO's pushback results in drawdown reduced to US$330m
- Jho Low wanted 1MDB's name in takeover bid for London hotel
- 'I pushed back against Jho Low over US$750m loan to PetroSaudi'
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Proceedings end early, Shafee to prepare for Cradle Fund CEO murder trial
4.14pm - Kuala Lumpur High Court judge Collin Lawrence Sequerah allows proceedings to adjourn early today.
He allows this when lead DPP Gopal Sri Ram applies for early adjournment as lead defence counsel Muhammad Shafee Abdullah needs to prepare for the Cradle Fund CEO murder trial at the Shah Alam High Court tomorrow.
Proceedings will resume Monday next week.
Jho Low, Tim Leissner matchmakers for Najib-Goldman Sachs CEO meeting
3.05pm - Wanted businessperson Jho Low and Goldman Sachs (Asia) CEO Tim Leissner were matchmakers for the meeting between the then prime minister Najib Abdul Razak and Goldman Sachs CEO Llyod Craig Blankfein in New York in November 2009, the court hears.
Former 1MDB CEO Shahrol Azral Ibrahim Halmi says that he was asked by Jho Low to fly with Najib to meet with prospective investors in 1MDB. He and then 1MDB chairperson Lodin Wok Kamaruddin flew there on Nov 21 that year.
Shahrol says the meeting took place on Nov 22, 2009.
"Low and Tim Leisnerr became the matchmakers for the meeting. Low was the facilitator for Najib while Tim Leisnerr was the facilitator for Llyod Craig Blankfein (photo).
"I noticed that Jho Low and Tim Leissner were very close based on their body language and conversation," he says.
Sri Ram reveals how Good Star sent US$9 million to Red Granite Pictures
2.50pm - The prosecution reveals in court a document purportedly showing Good Star Ltd sent US$9 million to film company Red Granite Pictures.
Lead prosecutor DPP Gopal Sri Ram shows a document dated 2011, which purportedly showed Red Granite received the money from Good Star through Coutts bank.
After revealing a document showing that Najib's stepson Riza Aziz was a director of Red Granite, Sri Ram showed four cheques to former 1MDB CEO Shahrol Azral Ibrahim Halmi.
Responding to Sri Ram's query on the cheques, Shahrol says he was told by Jho Low to hold on to them until further orders.
He says as no further orders came from Low, he passed the uncashed cheques to the finance department (of 1MDB) for safekeeping.
Shahrol elaborated that following the PetroSaudi International (PSI) joint venture in Sept 2009, Jho told him that the Saudi royal family wanted to donate US$100 million to Yayasan 1MDB.
Najib's lead counsel Muhammad Shafee Abdullah then objects to the cheques as hearsay documentary evidence as well as the oral evidence of Jho Low allegedly telling Shahrol to hold to the cheques as hearsay.
Sri Ram then resumes the examination-in-chief based on Shahrol's witness statement.
Proceedings resume after lunch break
2.47am - Court proceedings resume.
12.04pm - Kuala Lumpur High Court judge Collin Lawrence Sequerah allows proceedings to break for early lunch to allow the prosecution to sort documentation for the second phase of former 1MDB CEO Shahrol Azral Ibrahim Halmi's examination-in-chief.
The court allows the application by lead DPP Gopal Sri Ram after Shahrol had read up to Paragraph 349 of page 158 of his 270-page witness statement.
Paragraphs one to 158 dealt with phase one of the alleged charges against former prime minister Najib Abdul Razak, with Paragraph 350 of page 159 being the beginning of phase two of the alleged criminal offences.
There are four phases of offences purportedly committed by Najib in relation to RM2.28 billion of 1MDB money.
Proceedings will resume at 2.30pm this afternoon.
Shahrol says Jho Low promised to confirm Good Star ownership
11.45am - Jho Low told then 1MDB CEO Shahrol Azral Ibrahim Halmi that Good Star Ltd belonged to PetroSaudi International (PSI), the court hears.
Shahrol testifies this was what Jho Low told him on May 2015, following media reports that the millions of US dollars from 1MDB had gone to Good Star and that it allegedly belonged to Jho Low.
The former 1MDB CEO is testifying on the issuance of a letter dated May 22, 2015, from PetroSaudi International CEO Tarek Obaid claiming that Good Star belonged to PSI.
"Jho Low told me that Good Star is owned by PSI. He promised to get PSI to write a letter to me to confirm what he said," he tells the court.
Shahrol stepped down as 1MDB CEO in March 2013 but stayed on the 1MDB board until 2017.
I asked for PetroSaudi to reinvest 1MDB money into M'sia - Shahrol
11.20am - Shahrol Azral Ibrahim Halmi says that he was not comfortable with the huge investment amount of US$1.83 billion of 1MDB funds injected into PSI through 1MDB PetroSaudi Ltd and Good Star Ltd.
Due to that, he had asked Jho Low to find ways to get PSI to expedite the process of reinvesting "our (1MDB) money" back to Malaysia.
"At least the funds could be returned home as there were many ongoing 1MDB projects," he tells the lead DPP Gopal Sri Ram in court.
Shahrol says Low took note of the request but there was no positive answer after he pressed the businessperson several times.
He says he kept pressing Low until he received news that there was an issue with 1MDB involving PSI.
"I was confused as all transactions were based on government-to-government investments and fully supported by the Malaysian government through the mandate given by the prime minister," he says.
'PSI complained to King Abdullah over reduced payment from 1MDB'
10.28am - Businessperson Low Taek Jho or better known as Jho Low allegedly said PetroSaudi International (PSI) "complained to daddy" King Abdullah of Saudi Arabia following a further reduction in payment from 1MDB, the court hears.
Former 1MDB CEO Shahrol Azral Ibrahim Halmi testifies he reduced the payment to PSI from US$330 million to US$205 million due to a lack of funds.
Shahrol says Low told him of PSI's complaint sometime after May 27, 2011.
"Jho (Low) told me that PSI was very disappointed and dissatisfied and "they complained to daddy", which means Prince Turki (photo) had informed King Abdullah.
"I was made to understand by Jho that there was also a discussion between Najib and King Abdullah on the issue," he says.
Shahrol says in the end, he had to release a final tranche of US$125 million to PSI.
Ex-1MDB CEO's pushback results in drawdown reduced to US$330m
10.13am - Former 1MDB CEO Shahrol Azral Ibrahim Halmi's pushback against businessperson Low Taek Jho led to a planned US$750m loan being reduced to US$330 million, the court hears.
Shahrol says following a 1MDB board meeting on April 4 2011, he stressed to Low to lower the planned investment for overseas energy projects as there was little investment for local projects.
"Following discussions between April and May 2011 between me and Jho Low, PetroSaudi International agreed to reduce the drawdown request from the joint venture company to US$330 million on May 12, 2011," Shahrol says.
Jho Low wanted 1MDB's name in takeover bid for London hotel
10.10am - Shahrol Azral Ibrahim Halmi says he believed that Jho Low only wanted to use 1MDB's name in a bid to take over a hotel in London through Maybourne Hotel Group which was allegedly led by Low.
The former 1MDB CEO was referring to the content in the minutes of the meeting of the Chairperson of Board of Advisors dated March 30, 2011, prepared by Low himself.
In the minutes, Najib had agreed for 1MDB to provide a RM750 million loan to PetroSaudi on the condition that 1MDB obtains a RM3 billion loan from Socso and to focus on projects under Maybourne Hotel Group, SRC International, and Kuala Lumpur International Financial District.
'I pushed back against Jho Low over US$750m loan to PetroSaudi'
9.55am - Then 1MDB CEO Shahrol Azral Ibrahim Halmi says he pushed back against businessperson Low Taek Jho in 2010 over the sovereign wealth fund lending another US$750 million to PetroSaudi International (PSI).
The ninth witness tells lead DPP Gopal Sri Ram during examination-in-chief that he did that as he thought 1MDB should not be giving more loans to PSI but should use the money for projects in Malaysia.
Shahrol says he asked Jho Low to negotiate with then prime minister Najib Abdul Razak to reduce the loan amount.
"At the same time without my knowledge, (PSI director) Tarek Obaid had written a letter to Najib dated Feb 18, 2011, for an additional loan of US$750 million.
"The letter was enclosed with a letter from Prince Turki to Najib on the same date.
"This letter was given to (former 1MDB chairperson) Lodin Wok Kamaruddin on March 11, 2011, with a written note from Najib stating that he has no opposition to the additional investment," he testifies.
Proceedings begin
9.37am - Najib Abdul Razak enters the dock as proceedings begin.
9.30am - Accused Najib Abdul Razak enters the court and takes a seat at the front row of the public gallery to await proceedings to begin.
Focus on Najib's role in PetroSaudi joint-venture
Former 1MDB CEO Shahrol Azral Ibrahim Halmi is set to further testify today on how the sovereign wealth fund became more entangled in a costly joint venture allegedly involving PetroSaudi International.
In the course of testifying in Najib Abdul Razak's RM2.28 billion 1MDB trial, Shahrol, the ninth witness, claimed the accused had many opportunities to reverse questionable transactions linked to the joint venture that involved billions of ringgit but did not do so.
Yesterday, in his gripping testimony, Shahrol alleged that 1MDB was structured to grant "ultimate power" to Najib who was not only the then prime minister and finance minister but also the chairperson of the fund's board of advisors.
Meanwhile, the court may also discuss the setting of further dates for the trial when the 14th day of hearing before judge Collin Lawrence Sequerah resumes at 9.30am this morning. - Mkini
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