Former 1MDB Chief Executive Officer received RM97,000 monthly, court hears

Mohd Hazem Abd Rahman was testifying as the 10th prosecution witness in the trial of former prime minister Datuk Seri Najib Razak for the misappropriation of RM2.28 billion funds from 1MDB. Source (pic): TTF

محكمه دبريتاهو، بكس چيو 1مدب منريما رم97،000 سبولن

Former 1Malaysia Development Bhd (1MDB) chief executive officer (CEO) Mohd Hazem Abd Rahman received a handsome salary of RM97,000 monthly before he stepped down from his post at the sovereign wealth fund in 2015.

Hazem also told the High Court that he received a bonus twice during his tenure as CEO. He first joined 1MDB in 2012 as chief operating officer (COO) before replacing Datuk Shahrol Azral Ibrahim Halmi as CEO, the following year. 

Hazem said he started working at AMMB in 1996 with a RM1,800 salary monthly while his last drawn salary before leaving the credit company as a senior executive in 1998 was RM2,200.

Previously, the court heard that Shahrol’s last drawn salary as 1MDB CEO was RM99,000 monthly and received an 18 months bonus for the financial year 2011 and 2012.


KUALA LUMPUR: Former 1Malaysia Development Bhd (1MDB) chief executive officer (CEO) Mohd Hazem Abd Rahman received a handsome salary of RM97,000 monthly before he stepped down from his post at the sovereign wealth fund in 2015.

Hazem also told the High Court that he received a bonus twice during his tenure as CEO.




He first joined 1MDB in 2012 as chief operating officer (COO) before replacing Datuk Shahrol Azral Ibrahim Halmi as CEO, the following year.

As COO, Hazem said he received a salary of RM65,000 monthly.

“My first drawn salary (as CEO) was RM93,000… My last drawn salary was RM97,000. I received bonus twice.

“In 2013 I received five months bonus. The second one in 2014 was 10 months (bonus),” he said under examination-in-chief by deputy public prosecutor Mohamad Mustaffa P. Kunyalam.

He was testifying as the 10th prosecution witness in the trial of former prime minister Datuk Seri Najib Razak for the misappropriation of RM2.28 billion funds from 1MDB.

Asked if he had conspired with fugitive businessman Low Taek Jho or Jho Low to swindle money from 1MDB, Hazem answered in the negative.

He also denied having received a cent from the funds raised through loans and bonds from the sovereign wealth fund during his tenure as CEO and COO.

Loading...

During cross-examination by Najib’s lead counsel Tan Sri Muhammad Shafee Abdullah, the witness testified that he started his career at Arab-Malaysian Merchant Bank Bhd (AMMB) as an executive right after graduating in business management at Case Western Reserve University in the United States.

Hazem said he started working at AMMB in 1996 with a RM1,800 salary monthly while his last drawn salary before leaving the credit company as a senior executive in 1998 was RM2,200.

To this, Shafee jokingly said that his first drawn salary was RM670 back when he was with the Attorney-General’s Chambers as a deputy public prosecutor.

Shafee then asked the witness about his earnings when he pursued his career at other companies.

Hazem said after serving AMMB, he worked for Dana Modal Nasional Bhd as a senior executive until 1999 with a salary of RM2,500 monthly.

He then joined Credit Lyonnais Securities Asia as an investment analyst in 2002 with a starting salary of RM7,500 and last drawn salary of between RM11,000 to RM12,000.

This was before he pursued his career at Deutsche Bank in 2006.

“When I joined Deutsche Bank my salary was about RM15,000.

“In Sime Darby (as Group Head Value Management in 2006), my entry salary was RM15,000 and when I left (as managing director), it was RM38,000,” he said.

Hazem also testified that in 2012 when he joined 1MDB, Shahrol was the one who had interviewed him over lunch at Eastin Hotel in Petaling Jaya. The meeting took place once, he said.

Shafee: Were you headhunted by Shahrol?

Hazem: He did not headhunt me. It was my former boss Datuk Nor Badli Mohd Alias in AMMB and he was a friend of Tan Sri Ismee Ismail who was a board member in 1MDB. He (Nor Badli) told me that 1MDB was looking for a COO and asked if I was interested I could send in my resume direct to Ismee.

Previously, the court heard that Shahrol’s last drawn salary as 1MDB CEO was RM99,000 monthly and received an 18 months bonus for the financial year 2011 and 2012.

Shahrol, had testified as the ninth prosecution witness in the trial.

Trial continues before judge Collin Lawrence Sequerah on Oct 5.

Najib, 67, is facing 25 counts of abuse of power and money laundering involving RM2.28 billion of 1MDB funds which were deposited into his accounts between 2011 and 2014.

Source:

NOTA: SAYA MEMBUAT PENGUMUMAN-PENGUMUMAN PENTING DARI MASA KE SEMASA EKSKLUSIF MENERUSI SALURAN TELEGRAM BERIKUT:



Your donation is much appreciated and will go a long way towards helping us serve you better. Click the donate button below to make a contribution (you don't need a Paypal account to donate through Paypal, simply follow the instructions once you click the button).


SUBSCRIBE TO US ON YOUTUBE:



YOUTUBE: THE THIRD FORCE

TELEGRAM: Raggie Jessy Rithaudeen

TWITTER: Raggie Jessy Rithaudeen

WEBSITE: raggiejessyrithaudeen.com

Loading...

COMMENTS

Comments

Comments



Loading...