Citing Jho Low, 1MDB ex-CEO says firm’s fund-raising efforts linked to GE13

KUALA LUMPUR, Sept 30 — The US$3 billion which was raised by 1Malaysia Development Berhad (1MDB) for the joint venture with Aabar Investments PJS could have been linked to the 13th general elections (GE13), Datuk Shahrol Azral Ibrahim Halimi told the High Court today.

Testifying against Datuk Seri Najib Razak against the latter’s 1MDB corruption trial, Shahrol said Low or Jho Low had impressed on him that the fundraising had a “huge impact” to GE13.

“Jho Low had informed that the joint venture with Aabar will bring a huge impact to GE13. I did not ask further on the matter.

“I had only concluded that the fundraising definitely had a connection with GE13,” the former 1MDB chief executive said briefly, without elaborating.

Former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi is pictured at the Kuala Lumpur Court Complex September 30, 2019. ― Picture by Ahmad Zamzahuri

The US$6 billion joint venture between 1MDB and Aabar was conducted in April 2013 was done in a 50:50 shareholding concept, with both entities to inject USD3 billion respectively.

1MDB had raised the fund through the issuance of bonds that was done through a letter of support by the finance ministry.

Earlier this month, Najib’s former special officer, Datuk Amhari Efendi Nazarrudin had testified that he and the late Datuk Azlin Alias had open BSI Bank Accounts at Singapore in 2012 under their names, purportedly under the order of Low, to help receive political funds for Najib to help Barisan Nasional win Penang in GE13.