Jho Low sat in at 1MDB board meeting but kept mum, court told

KUALA LUMPUR: Fugitive financier Low Taek Jho’s was invited to sit in at a special 1Malaysia Development Bhd (1MDB) board meeting in 2009, the High Court heard.

Former 1MDB non-executive director Tan Sri Ismee Ismail testified during cross-examination that Low, or better known as Jho Low, could have been invited by former CEO Datuk Sharol Azral Ibrahim Halmi or former executive director Casey Tang Keng Chee to the confidential meeting at the Royale Bintang Damansara on Sept 26, 2009.

Ismee said he attended the meeting chaired by former chairman Tan Sri Mohd Bakke Salleh.

Others in attendance were former directors Tan Sri Che Lodin Wok Kamaruddin, Tan Sri Azlan Zainol as well as Shahrol Azral and Tang.

The witness agreed with lead counsel Tan Sri Muhammad Shafee Abdullah, who represented Datuk Seri Najib Razak, that there were no questions raised or any record of Low’s presence at the meeting.

Ismee, who was referred to the meeting minutes, said he had thought Low was at the meeting was to brief the board of directors.

“I recall before the start of the meeting, we (the BOD) did talk about it (Low’s presence).

“From my perspective, he was there to enlighten the board on a proposed joint venture (JV) with PetroSaudi International Ltd (PSI),” said the witness.

Muhammad Shafee: Jho Low did not seem to have uttered a single word throughout the meeting because otherwise his explanation would have been recorded in this minute.

Ismee: Yes.

On a US$1bil JV deal between 1MDB and PSI, Ismee said he was under the impression that Najib wanted the board to proceed with the JV.

According to the witness, former 1MDB chairman Tan Sri Mohd Bakke Salleh had told the directors he had spoken to Najib on the phone before the Sept 26, 2009 meeting.

“What I can recall was that Mohd Bakke told us that ‘PM wants us to do this thing (the JV)’,” Ismee said.

Muhammad Shafee: Mohd Bakke should be the one who knows what was said because he was on the phone, right?

Ismee: Yes.

The lawyer said Mohd Bakke had claimed Najib told him that the BOD “should not be looking at the past and to focus on the PSI proposal” as discussions have been going on for some time.

Muhammad Shafee: (Reading as Najib) “I would like the BOD to consider the proposal and firm up the decision. This is an important G2G (government-to-government). I’m looking forward to signing the project”.

Ismee: Basically the board has to firm up.

Muhammad Shafee: My question is, is this more or less what Mohd Bakke said to the board?

Ismee said Mohd Bakke had said it along that line.

When Muhammad Shafee continued to press him on what Mohd Bakke actually told the board in contrast to his phone conversation with Najib, Ismee answered: “Only Mohd Bakke is able to answer.”

Last week, at a different High Court where Najib is standing trial for allegedly tampering with the 1MDB audit report, Mohd Bakke testified that Najib told him via phone not spend too much time looking at past transactions and to focus on the proposed JV between 1MDB and PSI.

Najib, 69, is on trial for 25 charges in total – four for abuse of power that allegedly brought him financial benefit to the tune of RM2.28bil; and 21 for money laundering involving the same amount of money.

The hearing continues before Justice Collin Lawrence Sequerah on April 7.