Jho Low claimed Najib would “bulldoze” ministerial support, court hears

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

Datuk Seri Najib Razak “bulldozed” his way to get a ministerial letter to support the issuance of US$3bil in bonds in relation to a joint venture (JV) between 1MDB and Aabar Investment PJS, the High Court here heard.

According to former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi, Low Taek Jho – better known as Jho Low – had told him this when he questioned whether the Finance Ministry would be able to issue the letter of support (LOS) in time.

Sri Ram then showed the witness a letter, which was the LOS from the Finance Ministry to 1MDB Global Investment Ltd dated March 14,2013.

The LOS was issued just two days after 1MDB and Aabar inked their deal on March 12,2013, and their JV was aimed for investments in the property sector in Abu Dhabi and the Tun Razak Exchange.

In his testimony, Shahrol said it was impossible for the Finance Ministry to issue the LOS in such a short span of time without direct interference from Najib.


KUALA LUMPUR: Datuk Seri Najib Razak “bulldozed” his way to get a ministerial letter to support the issuance of US$3bil in bonds in relation to a joint venture (JV) between 1MDB and Aabar Investment PJS, the High Court here heard.

In his testimony, former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi said that fugitive financier Low Taek Jho – better known as Jho Low – had told him this when he questioned whether the Finance Ministry would be able to issue the letter of support (LOS) in time.




“Jho Low had told me that the ‘boss will bulldoze, don’t worry’, which meant that Najib, as the (then) finance minister and prime minister, would ensure that the LOS would be issued in the nearest time,” said the ninth witness in Najib’s 1MDB trial.

Shahrol said this during the examination-in-chief conducted by lead prosecutor Datuk Seri Gopal Sri Ram here on Monday (Sept 30).

“Until today, I remember the key word (bulldoze) because it was a big deal and proven by Najib’s action which was in line with what Jho had said,” he added.

Sri Ram then showed the witness a letter, which was the LOS from the Finance Ministry to 1MDB Global Investment Ltd dated March 14,2013.

The LOS was issued just two days after 1MDB and Aabar inked their deal on March 12,2013, and their JV was aimed for investments in the property sector in Abu Dhabi and the Tun Razak Exchange.

In his testimony, Shahrol said it was impossible for the Finance Ministry to issue the LOS in such a short span of time without direct interference from Najib.

“Najib then made a note for the ministry’s action and for the ministry to issue the LOS to guarantee the issuance of US$3bil in bonds,” Shahrol said.

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He also said that Low had fixed the fund amount at US$6bil by way of a 50:50 JV whereby 1MDB would have to inject half of the JV value at US$3bil.

“The same day I put down my signature on the letter, Najib minuted the Treasury secretary-general to take immediate action. This shows how Najib wanted this matter to be handled immediately,” he added.

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 or RM10,000, whichever is higher, if found guilty.

The trial continues before High Court judge Justice Collin Lawrence Sequerah on Tuesday (Oct 2).

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