Article type: metered User Type: anonymous web User Status: Campaign ID: 7 Cxense type: free User access status: 3Stay tuned for a new offer coming to you soon. The RM10bil, no.Shafee: To finance what?Shahrol: To finance these two projects, Sungai Besi (airport land development) and TRX.Shafee: Was the RM5bil ever used for the project (TRX)?Shahrol: Only a very tiny proportion was used for TRX if I recall correctly, although I would have to look at financial records. The money mostly went to PSI for additional tranches for the Murabaha agreement we spoke earlier.When asked if the former premier had ever said he knew for a fact who specifically was the owner of PSI, the witness said "Najib never said that".Shafee: As the prime minister at that time (Najib) in his capacity as a shareholder, you cannot expect him to do due diligence?Shahrol: In general yes. But in this situation, in my perception, Najib was the one who has personally invested in this relationship, has met up with Prince Turki (of Saudi Arabia) on a holiday. I cannot say one way or the other if the prime minister would have the capacity to do due diligence.The witness agreed when Shafee suggested that someone professional should have been tasked to do due diligence such as 1MDB itself.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.The hearing before Justice Collin Lawrence Sequerah resumes on Tuesday (Nov 5).

Source: The Star November 04, 2019 10:18 UTC