DEBUNKED

Najib’s SRC Trial: Day 74

February 3, 2020

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Najib says he is not stupid to put stolen money into his account.

9.25am: Former prime minister Najib Abdul Razak enters the Kuala Lumpur High Court and takes a seat at the front row of the public gallery.

9.49am: Najib enters the witness stand as proceedings before judge Mohd Nazlan Mohd Ghazali begin.

Also seen in court is DPP V Sithambaram, who is expected to spend an hour to wrap up cross-examination of Najib.

Lead defence counsel Muhammad Shafee Abdullah is expected to begin re-examination of Najib after the prosecution is done with cross-examination today.

As outlined under the law, re-examination is an opportunity for Najib, through questions by his defence team, to explain any issue that cropped up during cross-examination by the prosecution.

9.52am: Najib testifies that he does not know whether the Cabinet approval for government guarantees for the Retirement Fund Inc (KWAP) RM4 billion loans to SRC International was ever laid before the Dewan Rakyat.

Sithambaram: This government guarantees were never laid before the Dewan Rakyat?

Najib: I do not know.

Sithambaram: The purpose of laying it before the Dewan Rakyat is for all (members of parliament) to know?

Najib: Yes, for transparency.

Najib also admits that no Parliament Hansard could be produced to confirm whether it has been laid before Parliament.

10.04am: In reply to a series of questions by Sithambaram, Najib denies having any knowledge of the RM42 million in his bank account between Dec 2014 and Feb 2015.

Sithambaram then wraps up his cross-examination, with defence counsel Farhan Read beginning re-examination of the accused.

10.12am: Najib testifies that SRC initially writing to him for a RM3.95 billion loan did not override the Retirement Fund Inc (KWAP) powers to decide on the merits of the loan application.

During re-examination by defence counsel Farhan, Najib says that it was done just to start the process and that he (Najib) cannot override the power of KWAP to decide on the merit of the loan application.

“This would start the process to consider the (loan) request by SRC. It does not mean I was going to override powers of the (KWAP) investment panel.

“According to the law, the investment panel has absolute authority to decide. As a minister, I cannot override that,” Najib says.

Najib also points out that the fact that KWAP only greenlighted an RM2 billion loan to KWAP in 2011 rather than RM3.95 billion loan, proved this.

10.50am: Farhan is asking about an issue raised by the prosecution during cross-examination, on whether the government guarantees had already been predetermined to be approved.

“Certainly not. Cabinet members can give their views and even papers presented by the prime minister can be turned down by the Cabinet.

“Ministers are free to give their views on the paper,” Najib says.

11.21am: Proceedings adjourn for a short break.

11.53am: Proceedings resume.

12.20pm: Farhan is asking about the prosecution’s cross-examination of Najib over the alleged lump sum disbursement of the billions of ringgit in loans from KWAP to SRC.

SRC became fully owned by Minister of Finance Inc (MoF Inc) in early 2012.

“It has been stated several times that I have no personal or pecuniary interest in SRC. I have stated over and over, and I will continue to state this,” says Najib.

12.30pm: Najib said he never recused himself from the cabinet meeting during loan guarantee discussions for the RM4 billion loan as there are no other family members in it.

“Because it did not involve family members. All finance ministers never recused themselves in a similar matter in the past.

“The other person who normally advises would be the secretary to the cabinet, Tan Sri Masidah, who normally advised ministers if they need to recuse themselves.

“She never advised me to recuse… no basis for me to recuse myself,” he said.

12.58pm: Najib testifies that it would be ludicrous for him to take money from a Minister of Finance Inc (MoF Inc) company like SRC.

He says this during re-examination by Farhan, who is asking about the prosecution’s assertion that Najib planted cronies on the board of SRC to transfer RM42 million into his bank account.

Najib testifies that this is strengthened by the fact that there is no written evidence that he specifically instructed for the transfer the RM42 million into his account as a bribe for him to ensure approval for the government guarantee on a related RM4 billion loan to SRC.

“I have been in government for a long time, prime minister for nine years. It is ludicrous for me to take money from an MKD (MoF Inc) company (SRC) to begin with in some way or manner and put it in my personal account.

“If I had a criminal mind to cheat, I would be a stupid person as you do not put stolen or bribe (money) into your account, as a lot of people would know about it, as Bank Negara would know.

“I may not be the smartest person but I am not that stupid. Cannot go on a matter of conjecture.

“There is no evidence that (I) directed RM42 million (from SRC) be put into my account. It has never happened before in the years I have been in government,” Najib says.

1pm: Proceedings adjourn for lunch break.

2.43pm: Proceedings resume.

3.03pm: Najib testifies that then second finance minister Ahmad Husni Hanadzlah should have consulted the foreign ministry and Attorney-General before going to Switzerland to try to recover RM3.6 billion of public funds from there.

During re-examination by defence counsel Farhan, Najib says that Husni should have done this as part of a proper plan before trying to go to Switzerland.

During the prosecution stage of the trial, Husni testified that Najib prevented him from going to Switzerland to try to recover RM3.6 billion of the KWAP loans to SRC which was sent overseas.

“If Husni wanted to visit and he has a sincere intention, then the Ministry of Finance can prepare the Cabinet paper and then circulate it around to the Ministry of Foreign Affairs and the Attorney-General, maybe the Ministry of International Trade and Industry.

“But I would think in this case it would be the Foreign Ministry and the AG as important to consult.

“Needed their input as it is not just financial matters but also got legal significance.

“I believe that input from the AG (then Apandi Ali), who was in touch with his counterpart (in Switzerland), is important for Cabinet to decide whether Husni can go. That is what I mean by a proper plan,” Najib says.

3.51pm: Najib testifies that he never communicated with Jho Low over management of His (Najib’s) accounts.

During re-examination by lawyer Harvinderjit Singh, Najib says this despite chat logs between Jho Low and then AmBank relationship manager Joanna Yu.

In the course of the trial last year, Yu testified on dealing with Jho Low in the management of Najib’s accounts.

Harvinderjit: He (Jho Low through the chat logs with Yu) gave the impression that he received the text from you in regards to the credit card (spending). Were you in communication with Jho Low on the management of your account?

Najib: No.

Najib clarifies that his few communications with Jho Low was only in relation to the Arab donation coming into the accused’s account.

When Harvinderjit asks why Yu was dealing with Low despite he having no authority to deal with the accounts, Najib says Yu should answer this.

Najib had also previously filed a suit against Yu and AmBank over alleged mismanagement of his account by sharing its information to Jho Low.

4.04pm: Proceedings takes a short break.

4.20pm: Proceedings resume.

4.57pm: Harvinderjit is asking about the allegation that Apandi was appointed to the board of Tabung Haji following Apandi absolving Najib of wrongdoing in the SRC investigation in 2016.

Najib says there is no connection in the SRC matter and Apandi becoming a member of Tabung Haji’s board.

‘I think his predecessor Gani Patail was appointed chairperson or something,” Najib says without specifying to what company or body that Gani Patail was allegedly appointed as chairperson to.

5pm: Former AmBank relationship manager Krystle Yap is ready to testify for Najib’s defence tomorrow, the High Court hears.

Harvinderjit informs Justice Nazlan that the defence is looking at wrapping up re-examination of Najib by tomorrow.

Nazlan then allows proceedings to adjourn for the day and to continue tomorrow.

Yap was among the witnesses that the prosecution did not call during trial last year, but were then offered to Najib’s defence for the defence stage of the accused’s RM42 million SRC trial.

Yap was referred to in testimony by prosecution witnesses such as former AmBank relationship manager Joanna Yu.

5.10pm: Court adjourns, resumes tomorrow.

Earlier reports:

Jan 23, Najib’s SRC Trial: Day 73

Jan 23, Stumbling for Answers at SRC Trial, Najib Is Schooled on Court Proceedings

Jan 22, Najib’s SRC Trial: Day 72

Jan 22, Court Allows Najib to Call Expert to Verify Signatures

Jan 21, Najib’s SRC Trial: Day 71

Jan 20, Najib’s SRC Trial: Day 70

Jan 9, Najib’s SRC Trial: Day 69

Jan 8, Najib’s SRC Trial: Day 68

Jan 7, Najib’s SRC Trial: Day 67