1MDB-Aabar joint venture fell through despite US$3bil in bonds issued, court hears

KUALA LUMPUR: The joint venture (JV) between 1Malaysia Development Bhd (1MDB) and Aabar Investment PJS in 2013 fell through despite the issuance of US$3bil in bonds, the High Court here heard.

Key witness Datuk Shahrol Azral Ibrahim Halmi (pic) testified at the 1MDB trial of former prime minister Datuk Seri Najib Abdul Razak that a special purpose vehicle (SPV) company called Admic was set up for the JV between 1MDB and Aabar.