KUALA LUMPUR: Permodalan Nasional Bhd (PNB) deposited RM20.3mil in two tranches to fashion e-commerce platform company FashionValet Sdn Bhd in 2018, the Sessions Court heard.
Shamsiah Musa, 55, who is an assistant bank manager of Maybank Jalan Tun Razak branch, testified that based on PNB's Maybank account statement, there were two transactions amounting to RM20,318,510 from PNB to FashionValet in that year on June 4 and Dec 20.
"I confirm that on June 4, 2018, there was one transaction of RM11,953,509 with the description "MISC NON CASH DEBIT N1/FASHION VALET SD* 1493155T000002 FUND TRF TO PUBLIC B".
"The transfer was through a bank form filled by PNB and later managed by the bank over-the-counter. For this transfer, it would require the permission from an authorised signatory," the witness said.
There were 22 signatories for PNB's bank account, she added.
Shamsiah is the second prosecution witness in the trial of FashionValet co-founders Datin Vivy Yusof and her husband Datuk Fadzarudin Shah Anuar, who are facing charges of criminal breach of trust involving RM8mil in investment funds from Khazanah Nasional Bhd (Khazanah) and PNB.
According to the witness, on Dec 20, 2018, another transaction of RM8,365,001 from PNB to FashionValet took place with the description "RMT ONLINE DEBIT NON CASH N1/FASHION VALET SD* 3145354T000639 NONE".
"For information, this transfer from PNB's Maybank account to FashionValet's Public Bank account was done online by PNB and did not involve the bank," Shamsiah said.
For online transactions, the witness said Maybank did not have to do verification because the account already had its own authorised signatories.
During cross-examination by defence lawyer Datuk M. Athimulan, Shamsiah said there were no restrictions on the transfer from PNB to FashionValet.
Athimulan: When the bank received the funds from PNB, did PNB give any order for the funds to be freezed or restricted?
Shamsiah: No.
Athimulan: Based on the bank records, all of the transactions on PNB's funds were processed legally, transparently and adhering to banking standards and procedures?
Shamsiah: Agreed.
Vivy and Fadzarudin were accused, in their capacity as company directors, of dishonestly making a payment of RM8mil from FashionValet Sdn Bhd to 30 Maple Sdn Bhd without the approval of FashionValet's board of directors. The offence was allegedly committed at a Public Bank branch in Bukit Damansara on Aug 21, 2018.
They were jointly charged under Section 409 of the Penal Code, read together with Section 34 of the same Code. If convicted, Vivy and Fadzarudin face imprisonment of between two and 20 years, whipping and a fine.
The hearing resumes before judge Rosli Ahmad on Aug 17.
