KUALA LUMPUR: The reading of a key witness statement in a US$5.6bil lawsuit by 1Malaysia Development Bhd (1MDB) against former prime minister Datuk Seri Najib Razak and five others at the High Court hit a speed bump as lawyers objected to parts of the testimony.
Former 1MDB CEO and managing director Datuk Shahrol Azral Ibrahim Halmi, who took the stand as the fourth plaintiff's witness, was reading his 168-page witness statement in the trial here on Thursday (Aug 13).
The witness was going through his history with the Terengganu Investment Authority (TIA) and 1MDB, which involved fugitive businessman Low Taek Jho, or better known as Jho Low, when he was stopped.
Najib's lawyer Tan Sri Muhammad Shafee Abdullah objected to a paragraph in the witness statement that mentioned both Najib and Low.
"(This) conveyed a message that Jho Low was Najib's proxy. Unless he hears this from Najib himself... he (Shahrol) is giving the impression that it was Jho Low who claimed as such. That is hearsay," Shafee said.
Another lawyer, GK Ganesan, who represents former 1MDB director of investments Kelvin Tan, also voiced the same objection and said he would take the matter up in his submissions.
In response, 1MDB's lawyer Nathalie Ker said that the plaintiff would reply to the lawyers' objection in its submission next week.
Judicial Commissioner Mohamad Redzuan Idrus said he would disregard the disputed paragraph.
Earlier in the proceedings, 1MDB dropped its claims against one of the defendants in the lawsuit, former chief financial officer (CFO) Radhi Mohamad, amicably.
1MDB's lawyer Lee Shih said Radhi, 55, and 1MDB agreed to the terms of a consent order to be recorded by the court.
“My Lord, I can confirm that the plaintiffs and the sixth defendant would like to record a consent judgment or consent order today.
"Under the consent order, the suit against Radhi would be discontinued, with no liberty to file afresh,” said Lee.
Radhi's lawyer Datuk M. Reza Hassan confirmed that the consent terms were agreed between the parties.
JC Mohamad Redzuan then recorded the consent order and said the sixth defendant will no longer be a defendant in the lawsuit.
On May 7, 2021, 1MDB and its subsidiaries 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd (formerly known as 1MDB Global Investments Ltd) filed the civil suit.
They named Najib, former 1MDB finance officer Terrence Geh Choh Heng; former executive director Casey Tang Keng Chee; former chief investment officer Vincent Beng Huat Koh; former investment director Kelvin Tan Kay Jim; as well as former SRC International Sdn Bhd chief executive officer Nik Faisal Ariff Kamil, as the defendants.
The plaintiffs claimed that the defendants had committed breach of trust, breach of fiduciary duties, abused their powers and plotted to misappropriate 1MDB’s funds.
The hearing continues on Monday (Aug 17).
