Former prime minister Datuk Seri Najib Razak has denied exerting his influence through a phone call to pressure 1Malaysia Development Bhd (1MDB) into entering a joint venture with PetroSaudi International (PSI) in 2009.
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00:00Former Prime Minister Datuk Sri Najib Razak has denied allegations that he used his influence via a phone call to pressure one Malaysia development Berhad 1MDB into entering a joint venture with Petro-Saudi International, PSI, in 2009.
00:18During the ongoing RM2.28 billion 1MDB trial at the High Court in Putrajaya on Monday, it was revealed that fugitive businessman Low Taik Jo, better known as Jo Low, had called Najib.
00:32Low reportedly asked Najib to speak with former 1MDB board chairperson Tan Sri Muhammad Bakkeh Salleh ahead of a board meeting on September 29, 2009, regarding a purported government-to-government initiative between Malaysia and Saudi Arabia.
00:50Under cross-examination by Deputy Public Prosecutor Ahmad Akram Gharib, Najib denied exerting pressure during the phone conversation. He claimed the call merely aimed to highlight the joint venture as a strategic initiative to strengthen bilateral relations between the two nations.
01:08The prosecution argued that Low had sought Najib's involvement to facilitate the utilization of RM4.3 billion raised by 1MDB through Islamic Medium Term Notes bonds.
01:21DPP Ahmad Akram suggested that given the magnitude of the funds involved, Najib should have taken more robust measures than just a phone call with Muhammad Bakkeh. Najib countered that he did not believe his phone call would have any adverse impact on the company and denied encouraging Low to present the matter to the 1MDB board of directors.
01:43He stated that the board had invited Low to participate. On October 30, the High Court ordered Najib to enter his defense on four counts of abusing his position to obtain RM2.28 billion in gratification from 1MDB funds, along with 21 counts of money laundering involving the same amount. The hearing continues on Tuesday before Justice Colin Lawrence Sequeira.
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