News by theedgemarkets.com

“We would have raised enough funds to cover the debts that were incurred. We could have gotten our RM1.37 billion security deposit back and used that money to expand the energy business.”

Former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi: It became a problem when Najib became the sole shareholder in 1MDB and there were a lot of 'dengki' (envy) [among people within Umno] over Jho Low's influence and access to Datuk Seri Najib.

"When in-depth studies were conducted, immediate toll elimination cannot be done because the process requires the government to acquire (these highways)."   

Datuk Shahrol Azral Ibrahim Halmi concedes before the High Court today that the beleaguered state-owned fund was not the ‘baby’ of Datuk Seri Najib Razak as its inception was not mooted by the former prime minister.

Agrees with the defence’s suggestion that he does not blame former prime minister Datuk Seri Najib Razak for trusting fugitive financier Low Taek Jho and Casey Tang Keng Chee, which was former 1MDB executive director of business development.

"We cannot settle for trickle-down economics which to my mind is effectively 'leftover economics' benefiting only a few at the expense of the majority or average citizens let alone the low-income group."

"I believe that there is a huge moral hazard in having private entities own such strategic assets with the backing of government guarantees."

"I have told them that I have never received cheques with the amount indicated, and I have shown copies of cheques made to me to the police and MACC."

"Yes, we can sell. Whatever offer made on PLUS Malaysia will be studied by the government to determine whether it is suitable to our needs," he said.

The prosecution, led by Mohammad Al-Saifi Hashim, had proposed for the trial to be pushed for a later date as the dates previously set (Nov 18 to 29 and Jan 13 to 17, 2020) would clash with some of the dates in the 1MDB trial.