Najib Trial Day 34 Ex Treasury Official Briefed Husni On Src Ownership Transfer




The criminal trial of former prime minister Najib Abdul Razak involving the alleged misappropriation of funds from SRC International Sdn Bhd enters its 34th 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 HIGHLIGHTSWitness briefed Husni on SRC ownership transferDoesn't matter whether Najib signed files on car bonnet, witness agrees'No due diligence in transfer of SRC from 1MDB to MOF Inc''Najib signed SRC transfer to MoF Inc draft memo on his car'Ex-Treasury deputy sec-gen reveals liaison between 1MDB and MOFSurprised when Najib signed draft memo for SRC transfer - witness SRC's change of ownership a 'top-down decision-making process'Witness denies telling subordinate 'SRC belongs to Najib''Cabinet given all the facts on SRC before approving guarantees'SRC was firm in wanting loan to cover 'working capital,' witness saysCabinet approving guarantee for loan more important - witness'I wasn't informed KWAP chose not to loan RM2b to SRC directly'Najib enters the dockWitness briefed Husni on SRC ownership transfer4.45pm - Former second finance minister Ahmad Husni Hanadzlah had been briefed on SRC International’s ownership being transferred from 1MDB to the Minister of Finance Incorporated (MOF Inc), the Kuala Lumpur High Court hears
Ahmad Husni HanadzlahFormer Treasury deputy secretary-general Mat Noor Nawi testifies that he had delivered a copy of a memo on the transfer to Husni in 2012, and explained the matter to the minister after seeking approval for the transfer from then finance minister Najib Abdul Razak, who was also the prime minister
The 44th prosecution witness says that Husni did not have any objection to the ownership transfer
In his testimony, Mat Noor also tells the court that he had met then SRC International CEO and managing director Nik Faisal Ariff Kamil after the company's ownership was transferred to MOF Inc
He says that Nik Faisal had visited the Finance Ministry to discuss SRC International’s activities and plans, among others
Doesn't matter whether Najib signed files on car bonnet, witness agrees4.15pm - The court is left in stitches when lawyer Harvinderjit Singh tells 44th witness Mat Noor Nawi that it does not matter whether then premier Najib Abdul Razak signed documents on a car bonnet or elsewhere
Harvinderjit: Would I be correct to say that not every minute is signed (by the prime minister) in the office; it (document) can be brought to his attention and he signs
Mat Noor: Yes
Harvinderjit: It does not matter where he (Najib) signs it as long as he signs it, even if on a car bonnet
Mat Noor: Yes
The last question elicits a chuckle from the witness, and laughter from the lawyer and those in the public gallery
Earlier, former Treasury deputy secretary-general Mat Noor testified that on Feb 3, 2012, Najib signed the draft memo for the transfer of SRC International to the Minister of Finance Incorporated (MOF Inc) on a car bonnet at the Subang Airport
Mat Noor and 1MDB representative Zahid Talib had met Najib at the airport to bring the draft to the then premier's attention
'No due diligence in transfer of SRC from 1MDB to MOF Inc'3.02pm - Former Treasury deputy secretary-general Mat Noor Nawi testifies that to his knowledge, no due diligence was conducted on the transfer of SRC International from 1MDB to Minister of Finance Inc (MOF Inc)
The 43rd witness says this during examination in chief by deputy public prosecutor Suhaimi Ibrahim
"As far as I know, this due diligence was not implemented when I was there (as the Treasury deputy secretary-general) until November 2012," he says.  'Najib signed memo for SRC transfer to MOF Inc on his car'2.54pm - Then-prime minister Najib Abdul Razak signed the draft memo for the transfer of SRC International to the Minister of Finance Incorporated (MOF Inc) on the bonnet of his car. This happened, according to former Treasury deputy secretary-general Mat Noor Nawi, after he and 1MDB representative Zahid Talib met Najib (photo) at the Subang Airport on Feb 3, 2012
"The car ferrying the then-prime minister stopped beside the waiting area of the airport
"I exited the waiting area and went to the car and showed the draft memo to him at the side of the car
"The prime minister (Najib) looked through the contents of the memo while standing beside the car
"After perusing to page four (of the draft memo), he signed and made notations on the first page of the memo, while putting the draft memo on the bonnet of the car
"That was where he signed the memo," he says
Ex-Treasury deputy sec-gen reveals liaison between 1MDB and MOF2.53pm - Former Treasury deputy secretary-general Mat Noor Nawi tells the court that Zahid Talib was the liaison between the 1MDB and the Finance Ministry – including in the transfer of SRC International to Minister of Finance Inc (MOF Inc)
"Zahid is a staff member of 1MDB, he is the government liaison officer
"He is the contact between 1MDB and Finance Ministry in many matters. He dealt with me since my time at the Economic Planning Unit (EPU)," Mat Noor says
2.52pm - Proceedings resume with the examination-in-chief of former Treasury deputy secretary-general Mat Noor Nawi
1.15pm - Judge Mohd Nazlan Mohd Ghazali allows the court to break for lunch. Proceedings will resume at 2.45pm
Surprised when Najib signed draft memo for SRC transfer - witness 12.50pm - Former Treasury deputy secretary-general Mat Noor Nawi testifies that he was surprised by then-premier Najib Abdul Razak immediately signing a draft memo for SRC International to be fully owned by the Minister of Finance Inc (MOF Inc)
He tells deputy public prosecutor Suhaimi Ibrahim during examination-in-chief that he and 1MDB representative Zahid Talib met Najib at the Subang Airport on Feb 3, 2012
"He (Najib) had read every paragraph of the draft memo, every page, then to my surprise he signed on the first page of the memo indicating his agreement with the suggestion," he says
Mat Noor says that as a result, he had to go back to the Finance Ministry office and ask the minister's private secretary to make a photocopy of the draft memo, so that another copy with a proper letterhead and stamps of the prime minister and finance minister could be prepared
He adds that he did not usually meet the prime minister in that manner, but did so on this occassion as it was important to get his signature on the document
SRC's change of ownership a 'top-down decision-making process'12.30pm - The court sees a new witness, former Treasury deputy secretary-general Mat Noor Nawi (photo)
Mat Noor testifies that the change of ownership of SRC International from 1MDB to Minister of Finance Incorporated (MOF Inc) in 2012 was a "top-down" decision
He says this change of ownership had already been decided by then-prime minister Najib Abdul Razak
The witness adds that Najib had indicated in a January 2012 letter that he agreed to the transfer
Normally, Mat Noor explained, companies make their applications for ownership changes to the Finance Ministry, before papers are taken up through several layers – including the Treasury secretary-general, second finance minister and if needed, the finance minister – for approval
Witness denies telling subordinate 'SRC belongs to Najib' 12.05pm - Former Finance Ministry officer Maliami Hamad denies telling a subordinate that SRC International belongs to the prime minister, the court hears
Under cross-examination by lead defence counsel Muhammad Shafee Abdullah, Maliami was asked to confirm if he ever said this to Afidah Azwa when his division was processing government guarantees for SRC International's two RM2 billion loans in 2011 and 2012
Afidah was an officer under Maliami's supervision at the Loan Management Financial Markets and Actuary Division of the Finance Ministry
He says Afidah (photo) might have used "daily conversation slang" when she previously described in court what she was told
"Maybe she used daily slang to reflect that SRC is a company that receives attention from the prime minister himself. Maybe she used daily language," he testifies
Maliami agrees to Shafee's suggestion that what he meant by a company that receives attention from the prime minister is one like Petronas
Previously, Afidah said that she was told by Maliami that SRC International belonged to the prime minister
She was asked whether Maliami had explained why the company's application for government guarantees should be expedited by the Finance Ministry
'Cabinet given all the facts on SRC before approving guarantees'12pm - The court hears from former Finance Ministry officer Maliami Hamad that the cabinet in 2011 and 2012 was furnished with all the facts on SRC International when deliberating its applications for government guarantees
This includes the fact that SRC International was a new company set up with RM1 million capital, and that it had no track record
Maliami says during cross-examination by lead defence lawyer Muhammad Shafee Abdullah that a memo to the cabinet on SRC International's application for a second government guarantee included the fact that it had already obtained an RM2 billion loan from Retirement Fund Inc (KWAP) the previous year
Shafee: There were no lies to mislead the cabinet
Maliami: Correct
Shafee: And the memo for second government guarantee also had an additional fact, which mentions that the company had previously taken an RM2 billion loan, and that if this second guarantee is given, it will become RM4 billion? And this was explained to the cabinet clearly
Maliami: Correct
SRC was firm in wanting loan to cover 'working capital,' witness says11.28am - Former Finance Ministry officer Maliami Hamad (below) testifies that SRC International was firm when it sought an amendment to the terms of the 2012 loan from Retirement Fund Inc (KWAP)
"I am not sure why the issue was raised. What I am sure of is that we had a problem issuing the letter of guarantee, as the letter of guarantee and loan agreement fund usage terms must be the same
"In the agreement signed, the term was for general investment and working capital, so it became a problem. SRC International was firm in wanting this included, so it became a problem
"The problem persisted until the amendment was made to the purpose of the use of the funds based on the cabinet (meeting). When the cabinet meeting agreed to insert working capital, then it was resolved
"SRC was firm in seeking the working capital of the investment," he says
Yesterday, Maliami Hamad testified that then-premier Najib Abdul Razak agreed to a memo on SRC International using its loan in accordance with a cabinet decision on Feb 8, 2012
On that date, the cabinet approved its second government guarantee for SRC International to secure a second RM2 billion loan for investment in the natural resources sector
According to Maliami, the company wanted the funds to also cover its working capital. The words "working capital" were included in the loan agreement signed between SRC International and KWAP
Cabinet approving guarantee for loan more important - witness10.50am - Former Finance Ministry officer Maliami Hamad agrees with defence lawyer Farhan Read on the significance of the cabinet approving the government guarantee on SRC International's loan from KWAP
Farhan: Based on the February 2012 cabinet minutes, you agree that what is more important is that cabinet members as a whole agree to give the government guarantee, while the documents prepared are a mere formality
Maliami: Agreed
Farhan: This is documented in the Feb 8, 2012 cabinet meeting
Maliami: Correct
'I wasn't informed KWAP chose not to loan RM2b to SRC directly'9.30am - Retired Finance Ministry officer Maliami Hamad testifies that he was never informed by his superiors that the Retirement Fund Inc (KWAP) decided in 2011 not to loan RM2 billion to SRC International directly, but instead to either 1MDB or the government
This was despite then-Treasury secretary-general Wan Abd Aziz Wan Abdullah and deputy Nurzirah Bahari sitting in on a KWAP investment panel meeting on July 19, 2011, when the decision was made
Under cross-examination by defence lawyer Farhan Read (photo), Maliami says he never knew that KWAP reached that decision, even during his first meeting with SRC International representatives on Aug 12, 2011. In that meeting, the SRC International representatives discussed its application for a government guarantee on the first RM2 billion tranche of its loan from KWAP
The witness says he also did not know that the Finance Ministry chose to go with the second option – for KWAP to loan RM2 billion to the government, which would in turn loan it to 1MDB
SRC International was a subsidiary of 1MDB at the time
Farhan: But it is stated here (referring to meeting minutes), that the Finance Ministry had chosen option B for MGS (Malaysian government security)
Maliami: I did not know about this proposal
Farhan: If this is true, which division would be responsible to look into this option
Maliami: Finance Loan Management Financial Markets and Actuary Division (Maliam's division)
Farhan: But you were not involved
Maliami: I did not know about this. And I was involved (in preparing) MGS
Farhan: It seems that these matters were known to Treasury secretary-general and Nurzirah
Maliami: Correct
Farhan: They did not discuss this with you before your meeting (with SRC International)
Maliami: No
Najib enters the dock9.10am - Najib steps into the dock as proceedings begin
9.05am - Accused Najib Abdul Razak enters the court and takes a seat in the front row of the public gallery
Also seen in court are Attorney-General Tommy Thomas and other members of the prosecution, as well as the former premier's defence team
Defence lawyer Farhan Read is seen preparing for his cross-examination of the 43rd witness, former Finance Ministry officer Maliami Hamad
The cross-examination of former Finance Ministry Finance Loan Management Financial Markets and Actuary Division secretary Maliami Hamad today is expected to reveal more about his testimony that SRC International's application for a government guarantee on its RM2 billion loan received special attention from then-prime minister Najib Abdul Razak
With Najib’s RM42 million SRC International trial entering its 34th day before Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali, the defence may question the 43rd witness on the purported special attention paid to the guarantee on the loan from Retirement Fund Inc (KWAP) – a pension fund for civil servants – in August 2011
During examination-in-chief by the prosecution yesterday, Maliami testified that he was told to speed up SRC International’s loan guarantee application by then-Treasury secretary-general Wan Abd Aziz Wan Abdullah, as the bid had Najib's "special" attention
The defence is also expected to dig deeper into the witness saying that SRC International only submitted a single-paragraph justification in its application for the government guarantee
Maliami also testified that Wan Abd Aziz himself refused to sign off on a letter requesting that KWAP disburse the second RM2 billion tranche of the loan to SRC International before the government guarantee was issued in early 2012. Instead, Wan Abd Aziz was said to have ordered Maliami to put down his signature on the letter, which was directed to then-KWAP CEO Azian Mohd Noh
-Mkini

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