1MDB ex-CEO tells court he was removed for raising concerns over rushed transactions

For the duration of the 1MDB trial, TTF will carry key testimonies and reports involving both prosecution and defence witnesses. Source (pic): TTF

Former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi said he was removed from his post due to raising concerns over the rushed financial transactions of the company, the High Court was told.

He said in his four years in 1MDB, each time financier Low Taek Jho – better known as Jho Low – gave instructions from then finance minister Datuk Seri Najib Razak, he would double check with Najib and consistently receive confirmation.

He added that though he was on the board, whenever a meeting was held in regards to 1MDB’s involvement in the energy sector, he would withdraw to avoid conflict of interest with his role in Pemandu.

“After the furore (kecoh) regarding the 1MDB issue between 2015 and 2016, the 1MDB board unanimously suggested Najib (former prime minister Datuk Seri Najib Razak) resign, though we were ordered to stay on until a new board was elected in 2016,” he said.


KUALA LUMPUR: The former 1Malaysia Development Bhd (1MDB) chief executive officer was removed from his post due to raising concerns over the rushed financial transactions of the company, the High Court was told.

Datuk Shahrol Azral Ibrahim Halmi said he suspected he was forced out after raising his concerns, and transferred to Pemandu’s Oil & Gas and Energy and Financial Services portfolio in 2013.




He said in his four years in 1MDB, each time financier Low Taek Jho – better known as Jho Low – gave instructions from then finance minister Datuk Seri Najib Razak, he would double check with Najib and consistently receive confirmation.

He added that Najib’s actions were consistent and in line with Jho Low’s action plan, a pattern that continued until Shahrol was removed.

The officer had originally been appointed to 1MDB’s precursor Terengganu Investment Authority Bhd (TIA) back in March 2009, and continued on to be CEO of the embattled sovereign investment fund.

After his removal, the post was taken on by Mohd Hazem Bin Abd Rahman.

Shahrol, who is the ninth witness, was testifying in the 1MDB trial on Tuesday (Oct 1).

“However, I stayed on the 1MDB board of directors at the time, with Jho Low explaining it was to help manage optics,” he said.

He added that though he was on the board, whenever a meeting was held in regards to 1MDB’s involvement in the energy sector, he would withdraw to avoid conflict of interest with his role in Pemandu.

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“After the furore (kecoh) regarding the 1MDB issue between 2015 and 2016, the 1MDB board unanimously suggested Najib (former prime minister Datuk Seri Najib Razak) resign, though we were ordered to stay on until a new board was elected in 2016,” he said.

When asked if he eventually left the board by lead prosecutor Datuk Seri Gopal Sri Ram during examination-in-chief, Shahrol confirmed he did in 2016 following the formation of a new board.

Najib, 66, faces 25 charges in total – four for abuse of power that allegedly brought him financial benefit to the tune of RM2.3bil; and 21 for money laundering involving the same amount of money.

He faces imprisonment of up to 20 years and a fine of up to five times the sum or value of the gratification if found guilty.

The trial continues before High Court judge Justice Collin Lawrence Sequerah today.

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