News by Timothy Achariam

DBKL’s lawyer B. Thangaraj submitted to a three man bench via online proceedings that the targeted land was intended for mixed development, and that the Court of Appeal had made an error in quashing the development order issued to developer Memang Perkasa Sdn Bhd for the project.

In a supporting affidavit in response to the action, Thomas claimed Najib filed the suit for political reasons in time for the Melaka elections and the next general elections which must be held by the middle of 2023.

Justice Mohamed Zaini Mazlan on Thursday allowed the transfer of the four charges involving criminal breach of trust (CBT), misappropriation of funds and money laundering of more than RM1 million due to “unusual questions of law that will arise” in the case.

Former 1MDB director Tan Sri Ismee Ismail: After going through all of this from the information in this trial and news reports, my assumption was that the board [in 1MDB] was being used to make the transactions seem legitimate, to the extent that misleading information was given to us and even concealing information from the board

Former chief financial officer (CFO) Azmi Tahir: At that point, the company was being attacked by The Edge. There were a series of articles questioning our acquisitions of power plants, our IPO [initial public offering] plans and things like that

Mohd Hazem said Deloitte subsequently replaced KPMG as 1MDB's auditor.

The US$3 billion was money raised from bonds issued by 1MDB's subsidiary 1MDB Global Investment Ltd for a 50:50 joint venture between 1MDB and Aabar to develop the TRX.

1MDB former chief financial officer Azmi Tahir: Najib as the prime minister has the ultimate power in making decisions, especially those which concerned investments, financial decisions and national interest, in line with Article 117 of the Memorandum and Articles of Association of 1MDB

“It appears that 1MDB’s finances were run like a Chinese coffee shop on Petaling Street," said prosecutor Datuk Seri Gopal Sri Ram

"We have fixed the root cause which allowed this to happen."