Rm10m Akalbudi Funds To Armada Holdings For Investment Datuk K

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The Kuala Lumpur High Court heard today that the RM10 million Ahmad Zahid Hamidi gave to Armada Holdings Sdn Bhd, through Yayasan Akalbudi (YAB), was for a tender bid to supply coal to Tenaga Nasional Berhad (TNB) and for investment purposes.
Businessperson Khalid Mohamad Jiwa, better known as Datuk K, said the RM10 million had been returned to the foundation, with interest amounting to RM69,722.65.
The 64-year-old disagreed with deputy public prosecutor Mohd Dusuki Mokhtar’s suggestion that the funds were given out as loans.
When asked if it ever crossed his mind how Zahid could have RM10 million, Khalid (above) said Zahid was a corporate figure, an entrepreneur, a former banker, and also had various financial resources.
Close relationship
He also said that he has known the deputy prime minister for almost 30 years since working as a manager of the loan department at Bumiputra Bank (now CIMB Bank).
"The long period of acquaintance made me close to Zahid and I know his nature and character. Among the qualities that I know of is that he is generous, likes to help people who need help,” he added.
Khalid, the eighth defence witness, was testifying during Zahid’s defence hearing on 12 charges of breach of trust, eight charges of corruption and 27 charges of money laundering involving tens of millions of ringgit in YAB funds.
In his witness statement, Khalid said he was close to Zahid and that he and his wife, popular singer Siti Nurhaliza Tarudin, had also performed the Umrah several times with Zahid and his wife, Hamidah Khamis.
Ahmad Zahid HamidiRegarding the RM10 million from YAB to Armada Holdings, Khalid said it began in 2015 when he met a friend, Wasi Khan @ Wasiyu Zama Israr, the 21st prosecution witness.
“Wasi Khan said that he intended to set up a coal-supplying company in Indonesia and needed a paid-up capital of RM10 million to meet the minimum requirements to be registered as a supplier or contractor under TNB.
"Wasi Khan knows that I am a close acquaintance of Zahid and asked for my help to arrange a meeting for him with Zahid.
“I agreed and arranged a meeting for the two of us with Zahid at the latter’s office at the Home Ministry in Putrajaya," he said.
Not his jurisdiction
Khalid said that during the meeting, Wasi Khan informed Zahid of his intention and requested Zahid's intervention to ask TNB to reduce the amount of paid-up capital to RM5 million.
"However, Zahid said he could not as the matter was not in his jurisdiction and that it would be an offence for him to interfere in the affairs and policies that have been set by TNB,” he added.
The meeting ended with Zahid agreeing to provide the RM10 million and after receiving the funds, Wasi Khan set up Armada Holdings, Khalid testified.
He told the court that to his understanding, the RM10 million Zahid gave to Wasi Khan was an investment.
"I also know that Zahid is a former banker and he has knowledge about this matter. The RM10 million is intended solely to enable Armada Holdings to be eligible to bid for the tender as a coal supplier to TNB,” he said.
The hearing before Judge Collin Lawrence Sequerah continues.
- Bernama

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