KUALA LUMPUR, May 11 — A former 1Malaysia Development Berhad company secretary today told the High Court that she did highlight once the company constitution’s requirement for the prime minister — then Datuk Seri Najib Razak — to give his written approval for financial matters such as a loan that 1MDB was taking.
Goh had listed the differences in 1MDB’s company constitution with the M&A of other companies as including 1MDB’s M&A having a provision for a board of advisers, having preference shares apart from ordinary shares, and requiring the prime minister’s approval for certain transactions. While Goh said she had not seen such a written approval by the prime minister for 1MDB’s financial commitments, she confirmed that she did highlight this requirement in the past regarding a financial matter.
Goh said 1MDB’s senior management would be the chief executive officer , the chief financial officer , the chief investment officer and executive directors, but said it would be hard to say whether the general counsel was part of 1MDB’s senior management as it did not carry a “C” title but noted that Loo had an office in the C-suite.
She said that she had seen approvals by the prime minister for the appointment of 1MDB directors, on yellow papers with the prime minister’s office letterhead. Goh also clarified that she was referring to Article 117, where the prime minister’s prior written approval was also required for the appointment and removal of the company’s directors and senior management team.
When Wan Aizuddin said “so basically you are saying the board of directors decides first, then it will be elevated to shareholders for subsequent approval”, Goh said “yes, that’s right”.
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