Najib Trial Day 18 Ihsan Perdana Received Funding From 1mdb Yr1m For Csr Activities

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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 18th 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 HIGHLIGHTSIhsan Perdana received funding from 1MDB, YR1M for CSR activitiesRM42m transferred to Najib's accounts for CSR purposes - witnessEx-worker testifies Ihsan Perdana received RM50m in 3 transactionsLetter of guarantee backdated due to preparation with loan facilityIhsan Perdana received funding from 1MDB, YR1M for CSR activities10.50am - Witness Aishah Ghazali testifies that her former workplace Ihsan Perdana received funding from 1MDB and Yayasan Rakyat 1Malaysia (YR1M) to conduct corporate social responsibility (CSR) activities.She tells the court this during cross-examination by defence counsel Farhan Read
Farhan: Where did Ihsan Perdana received funds from
Aishah: 1MDB and YR1M. They gave funds to Ihsan Perdana to carry out CSR
Farhan: Aside from 1MDB and YR1M, were there any other sources of funding for Ihsan Perdana
Aishah: No.RM42m transferred to Najib's accounts for CSR purposes - witness10am - 36th witness Aishah Ghazali testifies that the RM42 million transferred from Ihsan Perdana's Affin Bank account to two AmBank accounts belonging to former premier Najib Abdul Razak between Dec 2014 and Feb 2015 was for the purpose of corporate social responsibility (CSR).Aishah, who is a former senior accounts executive with Ihsan Perdana, tells DPP Mohd Ashrof Adrin Kamarul that the transactions were conducted based on orders given to her by Ihsan Perdana's managing director Shamsul Anwar Sulaiman."The RM27 million, RM5 million and RM10 million I confirm have been sent out from IPSB (Ihsan Perdana) account to the receiver accounts at AmBank on Shamsul Anwar's orders
"All the transfers were for CSR," she tells judge Mohd Nazlan Mohd Ghazali
She confirms that she filled out the remittance forms for the transfers of RM27 million and RM5 million on Dec 26, 2014. The former amount was transferred to AmBank account ending with the numbers 880, while the latter amount was transferred to AmBank account ending with the numbers 906
She adds that she filled out the remittance form for RM10 million on Feb 10, 2015, which was transferred to AmBank account ending with the numbers 880. The AmBank accounts ending with the numbers 880 and 906 were previously established as belonging to the former premier.In a previous testimony, AmBank Raja Chulan branch manager R Uma Devi testified that identical transactions took place.Ihsan Perdana received RM50m in three transactions, ex-worker testifies 9.40am - Former Ihsan Perdana Sdn Bhd (Ihsan Perdana) senior accounts executive Aishah Ghazali takes the stand as the prosecution's 36th witness.She testifies that the company, which was previously known as Gem Horizon Sdn Bhd, was a corporate social responsibility company that carried out related activities for other entities that engaged its services
During examination-in-chief by DPP Mohd Ashrof Adrin Kamarul, Aishah confirms to the court that between Dec 24, 2014 and Feb 6, 2015, there were three transactions through which Ihsan Perdana received a total of RM50 million in its Affin Bank account
The witness also tells the court that as a senior account executive with the company, she worked under the orders of Ihsan Perdana managing director Shamsul Anuar Sulaiman and finance director Abdul Aziz
She then identifies Shamsul Anuar in the court.Letter of guarantee backdated as it was being prepared with loan facility9.20am - Witness Azlida Mazni Arshad agrees that a letter of guarantee from the Finance Ministry was backdated prior to the ministry informing the Retirement Fund Incorporated (KWAP) of the impending document, as it was being prepared together with a syariah-compliant loan facility for the RM2 billion loan to SRC International in March 2012.Azlida (above) is vice-president of legal and secretarial affairs for the civil servant retirement fund.Yesterday, she testified that the Finance Ministry had sent a letter to KWAP dated Mar 28, 2012, informing the retirement fund that a letter of guarantee for the SRC International loan would be delivered 10 days later from the date of the letter
The subsequent letter of guarantee was dated March 27, 2012
During cross-examination by defence counsel Harvinderjit Singh today, Azlida agrees with his question that the letter of guarantee's date is the same as that of the asset sale agreement and asset purchase agreement related to the syariah-compliant loan facility to SRC International
Harvinderjit: The dating of the letter of guarantee is the same as that of asset sale agreement and asset purchase agreement of Mar 27, 2012. The three were all stamped and more likely done together?Azlida: Yes
9.11am - Najib Abdul Razak enters the dock as judge Mohd Nazlan Mohd Ghazali enter court to begin proceedings.Lawyer Harvinderjit Singh resumes his cross-examination of 35th witness Azlida Mazni Arshad.9am - Clad in a cream-coloured suit, accused Najib Abdul Razak comes into court and takes a seat in the front row of the public gallery while awaiting for proceedings to begin.Also seen at the front of court are members of Najib's defence team, as well as Attorney-General Tommy Thomas and other members of the prosecution
Najib's lead counsel Muhammad Shafee Abdullah is seen entering court a short while later
As Najib Abdul Razak’s RM42 million SRC International trial enters its 18th day today, the decision-making process that led to Retirement Fund Incorporated’s (KWAP) approval of a total RM4 billion in loans to SRC International has come to the forefront
With proceedings before Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali to start at 9am, KWAP vice-president of legal and secretarial affairs Azlida Mazni Arshad will be further cross-examined by the former prime minister’s defence team
Of added interest is that Najib’s defence team adopting a tactic of trying to disassociate their client from KWAP’s decision making process on approving the RM4 billion loans, split into two tranches of RM2 billion in Aug 2011 and RM2 billion in March 2012
Yesterday through a series of questions, lawyer Harvinderjit Singh elicited agreement from the 35th witness that KWAP’s investment panel did not need the approval of cabinet members to make a decision, is not bound by the cabinet, and that it is not allowed to lend money unless it is satisfied that the fund would make money off the loan
Under cross-examination, Azlida also agreed that the panel did not minute any instructions from then prime minister Najib to approve a RM3.95 billion loan to SRC International, that the panel deferred its decision which suggested that it was not rushed into a decision, and that Najib’s handwritten note which appeared on SRC International’s proposed RM3.95 billion loan did not amount to an instruction
Previously during examination-in-chief by the prosecution, Azlida testified that Najib had urged KWAP's chairperson Wan Abdul Aziz Wan Abdullah to expedite SRC International's proposal for an RM3.95 billion loan from the fund
The panel eventually greenlighted a loan for RM2 billion after securing a government guarantee in 2011
- Mkini

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