Former 1Malaysia Development Berhad CEO, Datuk Shahrol Azral Ibrahim Halmi testified at the High Court today that he was told to keep fugitive businessman, Low Taek Jho or Jho Low’s, name out of 1MDB affairs in 2011 to protect the then prime minister, Datuk Seri Najib Abdul Razak .
The said remuneration was from 1MDB plan to acquire power plant operator Tanjong Energy Holdings Sdn Bhd for RM10.6 billion and Goldman Sachs acted as the financial adviser to 1MBD. “As I recall, Jho Low said why don’t we get Goldman to do everything relating to the funding,” he said. “They worked very hard, even on public holidays. It’s not uncommon that advisers or banks who are going to sign or to advise come on board to help before they sign on to become advisers, like what happened with Goldman. Although they signed on to be advisers in February, they already began their work in December 2011,” he said.
To another question posed by Wan Aizuddin, Shahrol Azral admitted that the 1MDB board of directors was not informed of the RM2.1 billion reduction in the price of the acquisition, which meant the sovereign wealth fund would only have to pay around RM8.5 billion. Muhammad Shafee explained that, previously, MPs have been excused from court during trials when they were the accused.
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