1MDB memo called repatriating US$1.8 billion from PetroSaudi a ‘pain in the ass’, court hears
Former 1MDB chief executive officer Shahrol Azral Ibrahim Halmi says the retrieval of funds needed to done carefully as it involved government-to-government deals and not a purely commercial basis. – The Malaysian Insight pic by Afif Abd Halim, May 21, 2020.
AN internal memo among 1Malaysia Development Bhd’s management in 2012 described the repatriation of US$1.83 billion from its joint venture with PetroSaudi International as Project PITA, an acronym for “pain in the ass”, the high court heard today. This was revealed by former 1MDB chief executive officer Shahrol Azral Ibrahim Halmi when questioned on “Project PITA” during cross-examination by lead defence counsel Muhammad Shafee Abdullah.
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