Najib S Yacht Meeting With Tarek Obaid Jho Low Not Done Through Proper Diplomatic Channel Says Macc Io

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Nur Aida Arifin, the 49th prosecution witness, said that Najib, as the then prime minister, should have known that the JV to form 1MDB PetroSaudi Ltd through high-level government-to-government (G2G) discussions was done not through a formal official diplomatic channel, as the discussion on a yacht was not considered formal. (The Edge) –An investigating officer (IO) from the Malaysian Anti-Corruption Commission (MACC) surmised that Datuk Seri Najib Razak’s meeting with PetroSaudi International’s (PSI) Tarek Obaid and fugitive Low Taek Jho (Jho Low) during a vacation in southern France in 2009, which discussed a proposed joint venture (JV), amounted to a non-formal and invalid discussion that resulted in losses of billions of ringgit.
Nur Aida Arifin, the 49th prosecution witness, said that Najib, as the then prime minister, should have known that the JV to form 1MDB PetroSaudi Ltd through high-level government-to-government (G2G) discussions was done not through a formal official diplomatic channel, as the discussion on a yacht was not considered formal.
“Najib himself admitted the meeting as a benchmark for G2G discussions, which he promoted to this very day. The vacation by Najib’s family had turned into a discussion on a diplomatic JV without a formal and valid diplomatic channel, resulting in losses to the country.
“The discussion did not involve any other high-level government officials, whereas the government had to bear the loan with the issuance of a full government guarantee for the loan. Najib as the prime minister should have known that the G2G JV high-level discussion required a legitimate diplomatic channel rather than causation from an informal discussion on a cruise ship only,” she added.
The IO was stating her views on the result of her investigation into the 1Malaysia Development Bhd (1MDB)-PSI deal, which resulted in losses suffered by the government. She was testifying in the 1MDB-Tanore trial, where Najib faces four abuse of power charges and 21 money-laundering charges involving RM2.27 billion of 1MDB funds.
1MDB had paid out US$1 billion for the formation of the JV, where US$300 million went to 1MDB PetroSaudi, another US$700 million to Good Star Ltd, and another RM1 billion (US$330 million) from the murabaha financing agreement in 2010.
Good Star was a company controlled by Jho Low.
Najib’s lead counsel Tan Sri Muhammad Shafee Abdullah objected to Nur Aida’s testimony on this issue, complaining to presiding Court of Appeal judge Datuk Collin Lawrence Sequerah that the opinion by the IO should not be considered, as the court should be the one forming its final opinion.
Nur Aida, meanwhile, said that the yacht holiday meeting also included Prince Turki and Najib’s family members.
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