KUALA LUMPUR: The High Court here today was told that Datuk Seri Najib Tun Razak had obtained unanimous approval from Cabinet ministers before approving a letter of support for the issuance of bonds worth US$3 billion by 1Malaysia Development Berhad’s (1MDB) subsidiary, 1MDB Global Investment Berhad (1MDB GIL), on March 14, 2013.
Malaysian Anti-Corruption Commission (MACC) Senior Superintendent Nur Aida Ariffin, 37, agreed with the suggestion of Najib’s lawyer, Wan Azwan Aiman Wan Fakhruddin, that Najib, as Finance Minister at the time, had obtained approval from Cabinet ministers, after a memorandum on the letter of support was presented during the Cabinet Meeting on March 13, 2013.
The 49th prosecution witness also agreed with Wan Azwan Aiman’s suggestion that when presenting the memo, Najib was only carrying out his duties as Minister of Finance and that he had no personal interest in the issuance of the bonds.
Wan Azwan Aiman: Datuk Seri Najib’s action in highlighting the risks of issuing these bonds during the Cabinet Meeting shows that he had no interest in the matter, and the risks disclosed might have led Cabinet members to disagree with issuing the letter of support.
Nur Aida: I disagree.
Wan Azwan Aiman: If Datuk Seri Najib had an interest in the issuance of these bonds, he should have managed to get twice as much (US$6 billion) than the stated amount of bonds (US$3 billion).
Nur Aida: I disagree.
In November 2021, former non-executive director of 1MDB, Tan Sri Ismee Ismail, while testifying in the same trial, also stated that the Malaysian government was aware that 1MDB GIL would issue bonds worth US$3 billion, which would be fully repaid by 2023.
Ismee said the letter of support stated that if the borrower (1MDB GIL) failed to pay or there was a shortfall in repaying this debt, 1MDB would provide financial assistance to repay the debt.
“Furthermore, if 1MDB fails to repay the debt, the Malaysian government will assume responsibility to finance 1MDB to repay the debt, or directly repay the debt until it is settled,“ he said while testifying as the 13th prosecution witness.
Najib, 70, faces four charges of using his position to obtain bribes totaling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial before Judge Datuk Collin Lawrence Sequerah continues on May 2.
