KUALA LUMPUR: The joint venture between 1Malaysia Development Bhd (1MDB) and PetroSaudi International Ltd (PSI) which was set up a decade ago with more than US$1bil capital injection was a failure, the High Court heard.
The failure was admitted by former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi when he was questioned during cross-examination by lead counsel Tan Sri Muhammad Shafee Abdullah yesterday.
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