Any directors of the government-owned 1Malaysia Development Berhad (1MDB) would probably have to give up their positions if they had said “no” to what the prime minister Datuk Seri Najib Razak wanted, the High Court heard today.
Tan Sri Ismee Ismail, a former director in 1MDB, today appeared to suggest that 1MDB board members would not be able to disagree with Najib’s request.
Ismee was testifying as the 13th prosecution witness in Najib’s trial involving money laundering and power abuse charges in relation to more than RM2 billion of funds misappropriated from 1MDB.
Lead prosecutor Datuk Seri Gopal Sri Ram today zoomed in on the 1MDB board’s September 26, 2009, meeting, where Low Taek Jho — popularly known as Jho Low and seen by Ismee as Najib’s adviser for 1MDB — was present and had handed over his handphone to 1MDB chairman Tan Sri Mohd Bakke Salleh.
Yesterday, Ismee said Bakke had then informed everyone at the meeting that “PM call” and left to take the call, and that Bakke had returned several minutes later and informed the board that he had just spoke to Najib who wanted the board to speed up its decision on a proposed joint venture with PetroSaudi International Ltd (PSI).
Despite having only been shown the proposal paper for the 1MDB-PSI joint venture idea just days earlier in a September 18, 2009, 1MDB board meeting, the 1MDB directors had at the September 26 meeting agreed to approve the joint venture despite reservations and despite having wanted more studies to be carried out first, Ismee had said yesterday.
Today, Sri Ram asked Ismee if the 1MDB board members could have said no.
Sri Ram: My question to you is, when Tan Sri Bakke told the meeting that the prime minister wants us to go ahead, were you in a position as a member of the board to say no?
Ismee: I guess at that time, I guess if the board members say no to the wishes of the prime minister, I guess we just have to leave as board members.
Ismee went on to explain how the proposed 1MDB-PetroSaudi deal was seen as a government-to-government deal then between the Malaysian government and the Saudi Arabian government.
“I think if I can recall correctly at the moment of time in 2009, when Datuk Seri Najib had just recently become prime minister, the perspective on my part, the excitement, the expectation was high, and I believed we wanted to do the deal to fulfil the prime minister’s wishes.
“So that’s why due to the urgency, we tried to put all the conditions to ensure the G2G is really airtight, so that is the position I believed the board took then.
“And personally in 2009, being CEO of Tabung Haji, I’m very sensitive about the relationship to the Saudi government. That time pun, I myself felt excited, we can enhance the relationship between Malaysia and Saudi,” he said.
Tabung Haji is a fund for Malaysia’s Muslim pilgrims, while holy sites for Muslim pilgrimages are located in Saudi Arabia.
Ismee agreed with Sri Ram, however, that the conditions that the 1MDB board had set for the joint venture had not been met and had been violated.
As for the funds that were taken out of 1MDB, Ismee confirmed that he did not receive any of these funds and further confirmed that he had not received any money from Low.
Yesterday, Ismee had also said the 1MDB directors might have asked the 1MDB management to postpone the joint venture to enable further studies to be carried out instead of approving it on September 26, 2009, if Najib had not intervened and given instructions to Bakke and the 1MDB board at that meeting.
Ismee had yesterday also said the 1MDB board of directors does have the powers to stop or reject the proposed joint venture with PSI but noted that the chairman of 1MDB’s board of advisers — who was Najib as the prime minister then — has the powers under the 1MDB company constitution’s Article 117 to override their decision and could also appoint new directors if dissatisfied with any of the directors. – MMO
Earlier reports:
Nov 17, Najib’s 1MDB trial: 1MDB BOD unaware of US$700m transferred to Jho Low’s company
Nov 15, Najib’s 1MDB trial: RM49m that 1MDB forrowed went into Najib’s account
Nov 11, Najib’s 1MDB trial: Najib had ultimate power in 1MDB
Nov 9, Najib’s 1MDB trial: 1MDB was run like a ‘Petaling Street coffee shop’
May 20, Najib’s 1MDB trial: US$2.7b became US$60,000 in just months but CEO kept mum
May 17, Najib’s 1MDB trial: Ex-1MDB CEO suspected illegal activities between Najib and Jho Low
Feb 15, Najib’s 1MDB trial: Ex-1MDB CEO believes UMNO benefited from 1MDB
Feb 15, Najib’s 1MDB trial: 1MDB’s senior executive meetings held in Jho Low’s apartment
Feb 10, Najib’s 1MDB trial: Najib claimed Saudi prince “donated” to 1MDB’s charity arm
Feb 9, Najib’s 1MDB trial: Najib received RM2.973b from 1MDB
Feb 9, Najib’s 1MDB Trial: Jho Low known as “PMO” in 1MDB board meetings was “the man”
Feb 8, Najib’s 1MDB Trial: Ex-CEO says in 1MDB, you either follow instructions or quit
Jan 6, Najib’s 1MDB trial: Day 52
Jan 5, Najib’s 1MDB Trial: Day 51
Sept 17, 2020, Najib’s 1MDB Trial: Day 50
Sept 15, Najib’s 1MDB Trial: Day 49
Sept 14, Najib’s 1MDB Trial: Day 48
Sept 3, Najib’s 1MDB Trial: Day 47
Sept 2, Najib’s 1MDB Trial: Day 46
Sept 1, Najib’s 1MDB Trial: Day 45
Aug 17, Najib’s 1MDB Trial: Day 44
Aug 5, Najib’s 1MDB Trial: Day 43
Aug 4, Najib’s 1MDB Trial: Day 42
Aug 3, Najib’s 1MDB Trial: Day 41
Jul 17, Najib’s 1MDB Trial: Set to Last Until at Least June 2021
Jul 16, Najib’s 1MDB Trial: Day 39
Jul 15, Najib’s 1MDB Trial: Day 38
Jul 1, Najib’s 1MDB Trial: Day 37
Jun 30, Najib’s 1MDB Trial: Day 36
May 21, Najib’s 1MDB Trial: Day 35
May 21, Najib’s 1MDB Trial: Day 34
May 19, Najib’s 1MDB Trial: Day 33
Nov 11, 2019, Najib’s 1MDB Trial: Day 32
Nov 7, Najib’s 1MDB Trial: Day 31
Nov 6, Najib’s 1MDB Trial: Day 30
Nov 5, Najib’s 1MDB Trial: Day 30
Nov 4, Najib’s 1MDB Trial: Day 28
Nov 4, 1MDB Trial: Judge Reprimands Najib After Tg Piai Trip
Oct 31, Najib Calls in Sick with Swollen Eyes, 1MDB Trial Postponed Yet Again
Oct 30, Najib’s 1MDB Trial: Day 27
Oct 29, Najib’s 1MDB Trial: Day 26
Oct 24, Najib’s 1MDB Trial: Day 25
Oct 24, Najib Asks Prosecution to Hand Over Justo’s Information Given to MACC
Oct 21, Najib’s 1MDB Trial: Day 24
Oct 17, Najib’s 1MDB Trial: Day 23
Oct 17, Jho Low Changed 1MDB Constitution to Give Najib Absolute Power
Oct 16, Najib’s 1MDB Trial: Day 22
Oct 14, Najib’s 1MDB Trial: Day 21
Oct 10, Najib’s 1MDB Trial: Day 20
Oct 9, Najib’s 1MDB Trial: Day 19
Oct 8, Najib’s 1MDB Trial: Day 18
Oct 7, Najib’s 1MDB Trial: Day 17
Oct 7, Some Umno People Envious of Jho Low-Najib Ties, Court Told
Oct 1, Najib’s 1MDB Trial: Day 16
Oct 1, Arul Kanda Told Ex-1MDB CEO to Leave Country to Avoid PAC Meeting
Oct 1, Ex-1MDB CEO Paid RM99K Monthly, RM1.5M Bonus
Oct 1, Jho Low Helped Plan Abu Dhabi Crown Prince’s Trip to Sway Voters for GE13
Sept 30, Najib’s 1MDB Trial: Day 15
Sept 30, Witness: Najib Used 1MDB to Raise Funds for GE13
Sept 26, Najib’s 1MDB Trial: Day 14
Sept 26, Jho Low, Tim Leissner Played “Matchmaker” for Najib to Meet Goldman Sachs
Sept 26, US$9M Transferred from Jho Low’s Good Star to Riza Aziz’s Red Granite Pictures
Sept 26, Jho Low, Najib Faked Meeting Minutes to Move US$750M from 1MDB to PSI
Sept 26, Najib Agreed to 1MDB Borrowing RM3B from SOCSO to Lend to PetroSaudi
Sept 25, Najib’s 1MDB Trial: Day 13
Sept 24, Najib’s 1MDB Trial: Day 12
Sept 23, Najib’s 1MDB Trial: Day 11
Sept 19, Najib’s 1MDB Trial: Day 10
Sept 18, Najib’s 1MDB Trial: Day Nine
Sept 18, Najib’s Ex-Aide Led MACC to Raid on Jho Low’s Apartment
Sept 18, Najib’s 1MDB Trial Halted Briefly for Najib to See Eye Specialist
Sept 17, Najib’s 1MDB Trial: Day Eight
Sept 17, Witness Identifies Riza Aziz, Arul Kanda and Five Others as Key Players in 1MDB Saga
Sept 17, Bono, Queen of Jordan, Rosmah Floated as Trustees for TIA
Sept 17, Witness Says 1MDB Najib’s Baby, Defence Claims It Was Terengganu Sultan’s Idea
Sept 11, Najib’s Eye Infection Halts 1MDB Trial
Sept 10, Najib’s 1MDB Trial: Day Six
Sept 10, Rosmah Fond of Jho Low
Sept 10, Najib’s Ex-Aide: Jho Low Provided Scripted Responses to Deny His Involvement in 1MDB
Sept 10, Istana Negara Questioned Jho Low’s Role in 1MDB Predecessor TIA
Sept 5, Najib’s 1MDB Trial: Day Five
Sept 5, 1MDB Trial: Judge Raps Shafee over Najib’s Tardiness
Sept 5, 1MDB Trial: Najib’s Ex-Aide Took US$200K Loan from Jho Low to Buy Property
Sept 5, 1MDB Trial: Najib’s Ex-Aide Accused of Lying
Sept 4, Najib’s 1MDB Trial: Day Four
Sept 4, Najib’s Ex-Aide: Mudabala CEO Was Promised All Sorts of Things
Sept 4, Najib’s Ex-Aide, Jho Low on “Secret China Mission” to Bail Out 1MDB
Sept 4, Jho Low Ordered Najib’s Ex-Aides to Open Overseas Bank Accounts
Sept 3, Najib’s 1MDB Trial: Day Three
Sept 3, Najib’s Ex-Aide: Jho Low Drew Out Wealth Fund Concept on Kitchen Whiteboard
Sept 3, Jho Low Gave Possibly Forged Letters from Saudi Arabia to Stop 1MDB Probe
Sept 3, Only Najib and Jho Low Knew “Full Picture” of 1MDB Plan
Sept 3, Jho Low in Najib’s Inner Circle
Aug 29, Najib’s 1MDB Trial: Day Two
Aug 28, Najib’s 1MDB Trial: Day One
Aug 28, Shafee: Prove Najib Knew Arab Donation Letter Faked, Jho Low Is Najib’s Alter Ego
Aug 28, Najib’s 1MDB Trial: Shafee Again Questions Sri Ram’s Appointment
Aug 28, Najib’s 1MDB Trial: Gopal Sri Ram’s Full Opening Statement
Aug 28, Najib’s 1MDB Trial: Prosecution to Show Saudi Donations a Sham
Aug 28, Najib’s 1 MDB Trial: Prosecution to Prove Jho Low Was Najib’s Alter Ego
Aug 28, Najib’s 1MDB Trial Begins