Najib approves additional loan of US$975 million to redeem Aabar options – Witness


Former CEO of 1MDB Mohd Hazem Abd Rahman (picture), a witness in Datuk Seri Najib Tun Razak’s trial, told the court today that he was shocked when the former prime minister approved the loan of US$975 million to buy back 1MDB’s shares in Aabar Investment PJS in 2014.

He said as the CEO of the company, he was not informed of the additional loan taken out from Deutsche Bank AG and had learned about the matter after receiving an email from the fugitive businessman Low Taek Jho or Jho Low.

“Attached with the email was the documents showing the approval given by Najib as the Minister of Finance (Incorporated).

“The approval was obtained when Najib signed the documents titled ‘Minutes by Representative of Holding Company Relating to Proceedings of Subsidiary Company Pursuant To Section 147(6) Of the Companies Act 1965 and ‘Special Rights Redeemable Preference Shareholder’s Resolution In Writing’,” he said.

According to the witness, 1MDB chief financial officer (CFO) Azmi Tahir was also not aware of the loan proposal made by Jho Low.