A former chief executive officer (CEO) of 1Malaysia Development Berhad (1MDB) told the High Court here today that he was worried because the company was high in debts and he had doubts with 1MDB's capacity to repay the debts.
Mohd Hazem Abdul Rahman, 48, said among the debts that had to be paid in 2014 was to Maybank for a loan taken by 1MDB to buy Tanjong Power shares in 2012, amounting RM2.5 billion.
“There were many 1MDB expenses which involved project financing funds such as development of infrastructure for TRX (Tun Razak Exchange) and JIMAH (JIMAH Energy Ventures), which were financed through new debts,” he added.
At that time, he said, he did not know whether 1MDB still had its fund abroad or that it had been used for UMNO, as was told to him earlier.
The 1MDB’s fund abroad then was at an estimated US $3.8 billion (RM13 billion), he said, adding that the amount was enough to pay off Maybank's debt and also as start-up capital for any 1MDB projects in Malaysia.
Mohd Hazem said this when reading out his witness statement at the trial of former Prime Minister Datuk Seri Najib Tun Razak's corruption case involving RM2.3 billion in 1MDB funds.
The 10th prosecution witness, who was 1MDB CEO from March 2013 until Jan 2015, said despite being the CEO, he had no access nor was in the know about the company’s funds abroad.
The persons with access to it were only the fugitive businessman Low Taek Jho or Jho Low and Jasmine Loo (1MDB lawyer), he said, adding that Jho Low had also instructed him to not interfere with the foreign funds.
He said he often met with Datuk Azlin Alias (now deceased), who was then Najib;s principal private secretary, to tell him of his concerns and intention to resign.
“I also sent an email to Azmi Tahir (Chief Financial Officer of 1MDB) informing him of my concerns about the unreasonable plans made by Jho Low for 1MDB as early as September 2013.
“I also expressed my intention to resign to Azmi Tahir,” he added.
The witness also said that 1MDB's management worked hard to prepare the prospectus for the listing (IPO) of its subsidiary, 1MDB Energy Group, on Bursa Malaysia.
However, he said, it could not be listed on Bursa Malaysia due to, among others, most of the mass media, such as The Edge and Kinibiz, give many negative views on 1MDB and this gave a negative perception to investors.
Mohd Hazem said Azlin always advised him to resign after the listing of 1MDB Energy on Bursa Malaysia.
“But, at the end of October 2014, after I returned from performing the Haj, I mentioned to Jho Low and Datuk Azlin Alias that I was serious about resigning as the CEO of 1MDB,” he added.
Mohd Hazem said he also told Datuk Azlin to tell Jho Low to find the candidate to replace him because none of his subordinates wanted to replace him.
He said that on Jan 3, 2015, upon his return from a holiday, Azlin informed him that they had found a candidate for the post of assistant CEO and that he was asked to hold the CEO post until Edra Energy’s listing on Bursa Saham in mid 2015.
“On Jan 5, 2015, Arul Kanda came to report as1MDB president, which meant that as the CEO, I should report to him. At that time, I also thought that it was the appropriate time to resign as the post of president is similar to CEO,” he added.
Najib, 67, is facing four charges of using his position to obtain bribes amounting to RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The hearing before judge Collin Lawrence Sequerah continues on Oct 5.
-- BERNAMA
Bernama
Thu Sep 17 2020
Mohd Hazem Abdul Rahman, 48, said among the debts that had to be paid in 2014 was to Maybank for a loan taken by 1MDB to buy Tanjong Power shares in 2012, amounting RM2.5 billion - Foto BERNAMA
Portal MYStartup dilancar, platform sehenti untuk syarikat pemula
MYStartup Single Window direka untuk memupuk kerjasama, inovasi dan jangkauan global, menawarkan maklumat yang teratur kepada pengasas, pelabur dan bakat teknologi.
Penyiasatan melalui data sistem pemantauan penerbangan
Ketua Unit Penerbangan Mencari dan Menyelamat, Prof Madya MEJAR Dr Mohd Harridon Suffian, berkata usaha mengenalpasti data penting akan ditumpukan oleh pasukan mencari dan menyelamat bagi melengkapkan siasatan berhubung nahas.
Nahas Helikopter: TLDM tubuh Lembaga Siasatan
Tentera Laut Diraja Malaysia (TLDM) akan menubuhkan Lembaga Siasatan bagi mengenal pasti punca dua helikopter yang terhempas semasa raptai Perbarisan Hari TLDM Ke-90 di Pangkalan TLDM Lumut, pada 9.32 pagi, Selasa.
'Malaysia ada kelebihan di Piala Thomas'
Pemain profesional negara Cheam June Wei menyifatkan pasukan negara mempunyai kelebihan tersendiri pada pertarungan pusingan pertama bertemu Hong Kong pada kejohanan Piala Thomas 2024.
Nahas helikopter Lumut: 'Hari yang amat menyedihkan buat kita semua' - MB Perak
Saarani turut mengucapkan takziah kepada seluruh keluarga wira-wira TLDM yang terlibat dalam tragedi kemalangan helikopter itu.
Keracunan makanan: KPM lakukan siasatan penuh
Kementerian Pendidikan (KPM) akan melakukan siasatan penuh dan terperinci berhubung kejadian lebih 70 pelajar di sebuah sekolah menengah di Kota Bharu mengalami keracunan makanan Sabtu lepas.
Jalan alternatif Kampung Kundur ke Bandar Lama Gua Musang ditutup - JKR
Jalan alternatif dari Kampung Kundur ke Bandar Lama Gua Musang (laluan D238) akan ditutup bagi memberi laluan kepada kerja-kerja pembinaan Jambatan Kampung Kerinting yang baharu.
Nestlé Malaysia Bhd kembali perkenal peraduan Nestlé Gaji Seumur Hidup
Nestlé Malaysia Bhd memperkenalkan semula peraduan Nestlé Gaji Seumur Hidup sebagai sebahagian daripada komitmen berterusan dalam meningkatkan kesejahteraan rakyat dan menyumbang kepada komuniti tempatan.
Pelaksanaan SKDS 2.0 bantu elak ketirisan, seludup diesel berterusan
Pelaksanaan Pelaksanaan Sistem Kawalan Diesel Bersubsidi 2.0 (SKDS 2.0) bersama Industri Pengangkutan Barangan merupakan langkah dalam mewujudkan persekitaran lebih kondusif dan mengelak ketirisan dan penyeludupan berterusan.
Lawatan Rasmi: Mohamad ke China bermula hari ini
Menteri Luar, Datuk Seri Mohamad Hasan mengadakan lawatan rasminya yang pertama ke China selama tiga hari bermula hari ini.
Jho Low masukkan wang RM100 juta sebagai hadiah kepada bekas peguam 1MDB
Bekas peguam 1Malaysia Development Berhadmengaku di Mahkamah Tinggi bahawa beliau menerima hadiah RM100 juta daripada ahli perniagaan dalam buruan Jho Low, walaupun telah meninggalkan syarikat itu.
'Saya percayakan Jho Low sebab dia sudah miliki wang berjuta' - Jasmine Loo
Bekas peguam 1MDB memberitahu Mahkamah Tinggi Kuala Lumpur pada Jumaat bahawa tidak terlintas di fikirannya ahli perniagaan dalam buruan Jho Low adalah seorang penipu.
Utusan Malaysia mohon maaf kepada pembaca
Portal berita tempatan Utusan Malaysia memohon maaf selepas menerbitkan artikel berhubung pengampunan bekas Perdana Menteri, Datuk Seri Najib Tun Razak.
Najib tidak maklumkan terbitan bon AS$3.5 bilion kepada Kabinet
Mahkamah Tinggi hari ini diberitahu Datuk Seri Najib Tun Razak tidak memaklumkan Kabinet mengenai terbitan bon AS$3.5 bilion.
Najib disyaki terima AS$681 juta untuk beli undi PRU13 - SPRM
Seorang pegawai penyiasat SPRM memberitahu Mahkamah Tinggi di sini pada Selasa bahawa, Datuk Seri Najib Tun Razak disyaki menerima AS$681 juta untuk membeli untuk PRU13 pada 11 tahun lalu.
Najib belanja RM80,000 untuk ubat cegah kanser pada 2013 - Pegawai penyiasat
Mahkamah diberitahu bahawa Datuk Seri Najib Tun Razak membelanjakan RM80,000 pada 2013 untuk suplemen dan vitamin bagi pencegahan kanser daripada wang derma.
Muhyiddin titipkan doa buat Najib
Semalam, Menteri Kesihatan, Dr Zaliha Mustafa dalam sidang media di Parlimen turut mengesahkan masalah kesihatan yang sedang dihadapi Najib.
Berita tempatan pilihan sepanjang hari ini
Berikut adalah berita yang paling menjadi tumpuan sepanjang Selasa, 15 Ogos 2023.
1MDB: Kerajaan sita, lucut hak harta lebih RM83 juta
Kerajaan sudah menyita dan melucut hak pelbagai harta bernilai lebih RM83 juta berkait kes penyelewengan dana 1Malaysia Development Berhad (1MDB) setakat ini.
SPRM percaya Jho Low sembunyi di Macau - Laporan
Suruhanjaya Pencegahan Rasuah Malaysia (SPRM) percaya bahawa ahli perniagaan dalam buruan Low Taek Jho atau Jho Low bersembunyi di Macau.