No business discussed during casual lunch between Jho Low and AmBank, TIA officers, hears High Court

KUALA LUMPUR: Fugitive businessman Low Taek Jho, otherwise known as Jho Low, had a luncheon with bank officers and Terengganu Investment Authority (TIA) officials at Mandarin Oriental Hotel 13 years ago, the High Court heard.

Former AmInvestment Bank Bhd managing director Kok Tuck Cheong, 67, who was testifying at Datuk Seri Najib Razak's 1Malaysia Development Bhd (1MDB) trial here on Wednesday (Oct 12), said that the casual lunch at the five-star hotel was attended by five to seven AmBank and TIA officers in 2009.

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The prosecution witness, who was cross-examined by Najib's lead counsel Tan Sri Muhammad Shafee Abdullah, also said that he was introduced to Low by AmBank's banking relationship director Chan Wan Seong then.

When asked if the luncheon had anything to do with the issuance of the Islamic Medium Term Notes (IMTN) worth RM5bil by TIA, Kok said they did not discuss serious business as it was merely a "casual lunch".

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The witness said he could not remember if former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi was present.

Muhammad Shafee: Who footed the bill?

Kok: Could be one of the bank officers or the other side (TIA) but it was definitely not me.

Muhammad Shafee: Did you know that Jho Low was once an advisor for TIA?

Kok: His name was mentioned but it was not a concrete fact.

Muhammad Shafee: Officially, was he (Low) on the board as a TIA advisor?

Kok: Not (an advisor) at that (lunch) meeting.

TIA was established in 2009 by the Terengganu state government before it was taken over by the Federal Government and renamed as 1MDB.

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 Thursday (Oct 13).