Shahrol Azral Ibrahim Halmi says TIA did not have the money for this at the time. FMTNews
KUALA LUMPUR: Former 1MDB CEO Shahrol Azral Ibrahim Halmi told the High Court in Najib Razak’s money laundering and abuse of power trial today that fugitive businessman Low Taek Jho gave him RM70,000 to help Terengganu Investment Authority increase its shares capital to RM1 billion.“At that time, TIA did not have the money. I brought the issue up to Jho Low and he gave me the money, so we gave it to SSM,” he said, referring to the Companies Commission of Malaysia.
He said he told Low that TIA was in urgent need of the money to proceed with the issuance of Islamic medium-term notes to raise RM5 billion for loans. Of the one billion shares, the Ministry of Finance Incorporated had two special rights preference shares.
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