Zahid intended to settle US$2m outstanding loan payment for hotel management firm using Yayasan Akalbudi funds, court told | Malay Mail

Datuk Seri Ahmad Zahid Hamidi is pictured at Kuala Lumpur Court Complex July 14, 2020. — Picture by Hari Anggara

He then recalled receiving a phone call from Zahid’s daughter, Datuk Nurulhidayah Ahmad Zahid on May 19, 2016 informing that her father had wanted to speak to him. “ I did inform Zahid that the outstanding payment of US$2.058 million to the bank must be settled in full before any form of share transfers could take place between Nurulhidayah and Rashid.

“That is why the bank preferred for Rashid to remain within Ri-Yaz Asset with the condition he hold at least 10 per cent of the shares in the company,” he said.During cross-examination, Mat Nor disagreed with Zahid’s lawyer Datuk Ahmad Zaidi Zainal on whether the advance payment was a form of investment on Yayasan Akalbudi’s part to Ri-Yaz Asset.

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