Former 1Malaysia Development Bhd (1MDB) CEO Datuk Shahrol Azral Ibrahim Halmi should have never entertained instructions by Low Taek Jho, a fugitive businessman who held no position in the sovereign wealth fund, the Kuala Lumpur High Court heard on Tuesday (Dec 3).
Datuk Seri Najib Razak testified that as the then CEO of 1MDB, Shahrol bore the responsibility to request formal, written approval from him (Najib) under Article 117 of the Memorandum and Article of Association (M&A) if an endorsement was necessary.
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Datuk Seri Najib Razak testified that as the then CEO of 1MDB, Shahrol bore the responsibility to request formal, written approval from him (Najib) under Article 117 of the Memorandum and Article of Association (M&A) if an endorsement was necessary.
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WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
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NewsTranscript
00:00Former One Malaysia Development Berhad CEO Datuk Shahrol Azral Ibrahim Halmy should have
00:07never entertained instructions by Low Taik Jo, a fugitive businessman who held no position
00:13in the sovereign wealth fund the Kuala Lumpur High Court heard on Tuesday.
00:18Datuk Sri Najib Razak testified that as the then-CEO of OneMDB, Shahrol bore the responsibility
00:26to request formal, written approval from him under Article 117 of the Memorandum and
00:33Article of Association if an endorsement was necessary.
00:38Najib was responding to claims by Shahrol, who had previously testified that he executed
00:43instructions and action plans from Low, also known as Jo Low, as he believed it came with
00:49Najib's approval and blessings.
00:51Najib adds, Shahrol never verified any of these so-called talking points or action plans
00:57with him.
00:58He said this in his 525-page witness statement.
01:02The former prime minister also questioned Shahrol's use of his personal email instead
01:06of his official OneMDB account in his communication with Low.
01:11He said this reflected Shahrol's awareness that the exchanges with Low were inappropriate.
01:17Najib is facing four counts of using his position to obtain 2.28 billion ringgit gratification
01:23from OneMDB's funds and 21 counts of money laundering involving the same amount.
01:28The hearing continues before Justice Colin Lawrence Sequeira.