Ex-CEO: Jho Low alleged Najib wanted 1MDB’s RM2.75b deal done before GE13 as caretaker govts can’t make major decisions | Malay Mail

Datuk Shahrol Azral Ibrahim Halmi is pictured at the Kuala Lumpur High Court July 16, 2020. — Picture by Yusof Mat Isa

Shahrol was commenting on 1MDB’s RM2.75 billion purchase in 2012 of a 100 per cent stake in Mastika Lagenda Sdn Bhd, a company which held a 75 per cent stake in Genting Sanyen Power Sdn Bhd, which in turn owns the Genting Sanyen Kuala Langat Power Station. Shahrol said the skipping of board meetings was partly due to the 1MDB board having already intended to further expand into the energy sector after acquiring Tanjong Energy by aiming next for Genting Sanyen, noting that Low had also driven the timeline by indicating that there was no time for the 1MDB board to hold meetings on the RM2.75 billion acquisition.

While Najib’s lawyer Wan Aizuddin Wan Mohammed noted that those were “serious accusations” against his client, he did not proceed to further question Shahrol as it was 3.15pm sharp at that time. “This hasty situation was due to pressure from Jho Low who stated that the loans and guarantee from IPIC have to be sped up as there are factors of G-to-G cooperation and it must also be settled before GE13 to ensure sufficient attention from Datuk Seri Najib before he becomes busy with campaigning,” Shahrol had said in his written witness statement. IPIC is Abu Dhabi’s sovereign wealth fund.

“During this time, when we started this whole negotiation, pretty much all negotiations on funding structure was pretty much derived from PMO side, meaning Jho. I don’t who the PMO officer is who represented that side, because I remember having met only one time a senior Genting person, but all the info about pricing came to me via Jho,” he said.

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