Najib Trial Day 14 Rm4b Loan Is The Largest I Ve Seen Kwap Give Witness Insists

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The criminal trial of former prime minister Najib Abdul Razak involving the alleged misappropriation of funds from SRC International Sdn Bhd enters its 14th day today at the High Court in Kuala Lumpur
Malaysiakini brings you live reports of the proceedings
Summary of Najib’s SRC RM42 million caseNajib is facing 7 charges relating to RM42m involving SRC International, a former 1MDB subsidiary
1 abuse of power charge3 criminal breach of trust (CBT) charges3 money laundering chargesClick to view infomation on judge, prosecution and defence teamKEY HIGHLIGHTSRM4b loan is the largest I've seen KWAP give, witness insistsSRC projects only looked good on paper, says AmirulZahid was a 'multi-purpose guy'Loan approval not rushed, says KWAP ex-officerWitness upset about being cut off by defence counselWitness: KWAP would've rejected SRC loan bid if given a choiceLaughter in court as witness is asked to identify SRC ex-directorBanker confirms witness statement based on bank documentsWitness says that SRC projects only looked good on paperThank you for following Malaysiakini's live report4pm - Thank you for following our live report today
RM4b loan is the largest I've seen KWAP give, witness insists3.10pm - Former Retirement Fund Inc (KWAP) officer Amirul Imran Ahmat remains adamant about his testimony yesterday that he had not seen a bigger loan than the RM4 billion given to SRC International
Amirul says this during cross-examination by defence counsel Harvinderjit Singh, who had asked whether the witness' previous testimony was based on the three years and four months he had spent working with KWAP
Harvinderjit: You were speaking from your time of three years and four months (with KWAP)
Amirul: Yes
Harvinderjit: There were bigger (loans given out by KWAP)
Amirul: Loans, no
Harvinderjit: If there were bigger loans, it would be discussed by (KWAP) investment panel
Amirul: Yes
Harvinderjit: You might not have been aware (of larger loans) as you do not deal with the facility
Amirul: I am quite sure, no
The defence counsel then suggests that only someone from the investment panel could provide a conclusive answer to the question, to which Amirul disagrees
Harvinderjit: I am suggesting that (the claim that there is no bigger loan) is not true. You are unsure. Do you agree
Amirul: Single loan for RM4 billion, no
However, the former KWAP officer acknowledges that, while he is certain there is no larger loan than RM4 billion, there could be a loan bigger than the individual RM2 billion tranches transferred from KWAP to SRC
Harvinderjit: There is a distinction here of cumulative loan (of RM4 billion KWAP loan to SRC International split into two tranches of RM2 billion each)
There might have been a single loan bigger than RM2 billion? There might have been others (Amirul may have not been aware of)
Amirul: Okay
Harvinderjit: Good
On April 30, an AmBank employee had testified that the first tranche of RM2 billion was transferred from KWAP to SRC International on Aug 29, 2011. The second tranche was transferred on March 28, 2012. SRC projects only looked good on paper, says Amirul2.52pm - Witness Amirul Imran Mahat testifies that no other SRC International directors were ever present in meetings with the Retirement Fund Inc (KWAP) to discuss the company's loan application in 2011
The former assistant vice-president at KWAP's Fixed Income Department said he had only met SRC International's Nik Faisal Ariff Kamil, besides former 1MDB executive finance director Terrence Geh and general counsel Jasmine Loo at the meetings
Amirul testifies that his dealings with SRC International's Nik Faisal and Geh did not give a good impression about the claimed investment in the pipeline by SRC International
During cross-examination by Najib's lawyer Harvinderjit Singh, the former KWAP officer says that the men seemed to rely too much on documentation to project a positive outlook on the purported projects of SRC International
Harvinderjit: In regards to Geh and Nik Faisal, was there an air of confidence that their (SRC International) investment would work out
Amirul: No
Harvinderjit: On paper it looks good
Amirul: Actually, referring back to my previous testimony, they (Geh and Nik Faisal) gave documents but those are only representations and not of (actual) merit
Harvinderjit: So, superficially, these documents look impressive
Amirul: Yes
Harvinderjit: They seemed to rely on what is on paper and hope that is the end-all and be-all for you
Amirul: Yes
The witness is answering Harvinderjit's question on the former's meetings with Geh and Nik Faisal in regards to the discussion on the RM2 billion loan by KWAP to SRC International in early 2012
Zahid was a 'multi-purpose guy'2.22pm - Upon resumption, the proceedings experience another light moment when witness Amirul describes Zahid Taib as a "multi-purpose guy"
The former KWAP executive is replying to a question from defence counsel Harvinderjit Singh as to the identity and function of Zahid, whose name constantly cropped up in correspondence between SRC International and KWAP
Harvinderjit: You have met Zahid Taib
Amirul: Yes
Harvinderjit: Who is he
Amirul: A multipurpose guy for (former SRC International director) Nik Faisal (Ariff Kamil)
Harvinderjit: No name card was given to you (by Zahid)
Amirul: No
The witness' deadpan answer elicits laughter from not only the public gallery but also from members of Najib's defence team and prosecution. Even Najib himself grins upon hearing the witness' answer
In his written witness statement, Amirul says that among the correspondence he had with Zahid was on March 6, 2012, when he sent an email to Zahid, former SRC International director Nik Faisal Ariff Kamil, and 1MDB executive director of finance Terrence Geh to inform SRC International that KWAP has yet to receive SRC International's first quarter report ending Nov 29, 2011
Court breaks for lunch1pm - The court is taking a half-hour break for lunch. Loan approval not rushed, says KWAP ex-officer12.19pm - Former Retirement Fund Inc (KWAP) assistant vice-president (Fixed Income Department) Amirul Imran Ahmat tells the court that the fund was not rushed into approving SRC International's application for an RM3.95 billion loan
During cross-examination, the witness explained that he had prepared a paper for KWAP's investment panel in July 2011 regarding SRC's loan. Harvinderjit: If there had been a rush to approve the loan, they could have approved it straightaway, but they did not
Amirul: Yes
Harvinderjit: After deferring (on the loan application), then they decided (to approve the loan later)
Amirul: Yes
Yesterday, when examined by the prosecution, the former KWAP officer had testified that he was under pressure and felt rushed when dealing with the SRC International loan application
Witness upset that defence counsel cut him off12.10pm - A minor argument ensues between defence counsel Harvinderjit Singh and witness Amirul Imran Ahmat over a proposal paper to approve an RM1 billion loan to SRC International
Amirul testified that he had been instructed by the director of KWAP's Fixed Income Department to prepare a proposal paper for KWAP to loan SRC RM1 billion, after the fund received the latter's request for an RM3.95 billion loan.  Harvinderjit repeatedly puts to the former KWAP officer that the RM1 billion loan was a recommendation made by KWAP's Fixed Income Department
However, Amirul denies the lawyer’s claim, saying the paper was only prepared for KWAP's investment panel to "deliberate and consider"
He told the court that if the paper were indeed a recommendation, it would have included relevant wording to that effect
When Harvinderjit tried to press him again, Amirul interjected, telling Harvinderjit to allow him to respond
"No, you asked me a question, let me answer," said Amirul
The lawyer, however, did not back down and instead rephrased his claim by asking whether the RM1 billion loan was a recommendation made by KWAP's Fixed Income Department, to which Amirul replies, "No"
Witness: KWAP would've rejected SRC loan bid if given a choice12pm - 29th witness Amirul Imran Ahmat testifies that the Retirement Fund Inc's (KWAP) investment panel would have rejected the proposed loan of RM3.95 billion to SRC International, if it had a choice
The former KWAP officer says this during cross-examination by Najib's lawyer Harvinderjit Singh
However, when pressed by Harvinderjit, he clarifies this is his personal opinion and that he cannot speak on behalf of the investment panel
Harvinderjit: You know that the investment panel did not approve the paper straight away
Amirul: They would have rejected it if they had a choice. It was deferred, not rejected (in the end)
Harvinderjit: You cannot speak on behalf of the investment panel
Amirul: Yes
Harvinderjit: All that you are saying on that they would have rejected it is your personal opinion on the matter
Amirul: Yes
Laughter in court as witness is asked to identify SRC ex-director11.08am - A light moment pierces the normally serious proceedings when DPP Ishak Mohd Yusoff asks 29th witness Amirul Imran Ahmat (photo) to identify former SRC International director Nik Faisal Ariff Kamil
It is understood that Nik Faisal has not been successfully located by the authorities so far
Chuckles can be heard from the public gallery when a photo of Nik Faisal is tendered to the witness, who is a former Retirement Fund Inc (KWAP) officer
Ishak: Can you identify Nik Faisal Ariff Kamil
Amirul: Yes
Ishak: Take a look at the picture (laughter ensues in background)
Amirul: Yes (points to the picture)
Banker confirms witness statement based on bank documents11.00am - The hearing starts with defence counsel Farhan Read continuing his cross-examination of the prosecution's 30th witness, Norhayati Mohd Yunus (photo), who is the manager of Affin Bank's branch at The Curve, Petaling Jaya
The cross-examination, however, only lasts for about a minute, with Farhan asking Norhayati to confirm whether her witness statement was based on available bank documents
To this, Norhayati replies in the affirmative, before she is released
The 29th witness, former Retirement Fund Inc (KWAP) officer Amirul Imran Ahmat, is then called back to the stand
Najib enters dock10.58am - Former premier Najib Abdul Razak enters the dock as judge Mohd Nazlan Mohd Ghazali comes into the courtroom to begin the hearing
10.50am - Former premier Najib Abdul Razak's lead counsel Muhammad Shafee Abdullah enters the courtroom and takes a seat at the front to await the beginning of proceedings in the accused's SRC International trial
The veteran lawyer had arrived after addressing a separate legal matter at the Court of Appeal earlier this morning
The matter concerned Najib's appeal to disqualify former Federal Court judge Gopal Sri Ram from leading the prosecution in the accused's 1MDB trial
It was reported earlier this morning that the Court of Appeal dismissed Najib's appeal, thus allowing Sri Ram to continue being part of the prosecution in the 1MDB trial. 10.26am - Najib's defence counsel Harvinderjit Singh is seen entering court with other members of the defence team
The lawyer is conferring with fellow defence lawyers as members of the prosecution also begin filling in the front seats to await the resumption of proceedings
Yesterday, lead defence counsel Muhammad Shafee Abdullah informed judge Mohd Nazlan Mohd Ghazali that Harvinderjit could not attend proceedings as he was down with food poisoning
10am - Ex-premier Najib and his defence attorney Muhammad Shafee Abdullah have yet to arrive, as they are attending a separate court matter before the Court of Appeal at the Palace of Justice at Putrajaya at 9am this morning. This trial is due to resume at 10am but is likely to start later

As Najib Abdul Razak's trial over alleged misappropriation of RM42 million of SRC International Sdn Bhd's funds enter its 14th day today, the former premier's defence team is set to further grill the 30th witness, Affin Bank The Curve branch manager Norhayati Mohd Yunus, over transactions involving Ihsan Perdana's accounts at the commercial bank
It began yesterday afternoon when the accused's defence counsel Farhan Read raised the issue of Mail Global Resources Sdn Bhd purportedly receiving RM35 million from Ihsan Perdana's account via seven cheques dated Jan 13, 2015
The lawyer had cross-examined the 30th witness over the extent of her knowledge of the transaction, especially on whether she was investigated over it before or after the 13th General Elections in 2013
She had then testified that neither the MACC nor Bank Negara had taken her statement over the transaction, which she admitted to being able to recall having taken place
To what extent Mail Global Resources is involved in the case will be a point of interest, because PKR's Rafizi Ramli had, as far back as 2017 via his blog, alleged that Ihsan Perdana had issued the same number of cheques for the same total of RM35 million to Mail Global Resources on the same date of Jan 13, 2015
Yesterday, Najib's lead counsel Muhammad Shafee Abdullah said that the defence will implement a cross-examination method that seek to determine whether some witnesses had been persuaded to change their testimony after GE13
During examination-in-chief by the prosecution yesterday, former Retirement Fund Incorporated (KWAP) officer Amirul Imran Ahmat testified that Najib had signed the federal government's guarantee for an additional RM2 billion loan from KWAP to SRC International
The 29th witness said that Najib signed the document in 2012, in his capacity as then prime minister and finance minister
Amirul said that SRC International had received a total RM4 billion in loans from KWAP in two tranches between Aug 2011 and March 2012, in what he testified was the largest loan ever given out by KWAP
At that time, SRC International was a subsidiary of 1Malaysia Development Bhd (1MDB). It was transferred to Finance Ministry Incorporated in 2012, after facing problems
Najib was then the chairperson of the 1MDB's board of advisors and, according to the company's constitution, the final authority on board member appointments, including that of SRC International
Amirul is subject to being called back to the witness stand to be cross-examined by the defence team, as yesterday the cross-examination could not be carried out due to Najib's counsel Harvinderjit Singh unable to attend proceedings due to being down with food poisoning
Today's Najib's SRC International hearing before Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali is expected to start later at 10am rather than the usual set time of 9am, due to Najib and Shafee needing to attend a separate court matter before the Court of Appeal at the Palace of Justice at Putrajaya at 9am this morning
The Court of Appeal matter is a decision on Najib's appeal to disqualify former federal court judge Gopal Sri Ram from being part of the prosecution in the accused's separate 1Malaysia Development Bhd (1MDB) trial, set to be heard before Kuala Lumpur High Court judge Collin Lawrence Sequerah on Aug 19

-Mkini

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