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Hazem was offered triple pay bump to join 1MDB; last drawn salary RM97,000 as CEO

During examination-in-chief today, Mohd Hazem Abdul Rahman, who is testifying against former prime minister Datuk Seri Najib Razak in the 1MDB-Tanore trial as the 10th prosecution witness, said he received a salary of RM93,000 a month as chief operating officer (COO) when he first joined 1MDB in August 2012. Mohd Hazem said that when he was promoted to chief executive officer (CEO) in March 2013, he received a salary of RM97,000. Furthermore, during his tenure, he received a five-month bonus in his first year when he was COO and a 10-month bonus when he was CEO.

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Avillion's auditor red flags its ability to continue as a going concern

Avillion said it has implemented certain measures, such as offering hotel package promotions and vouchers to maintain occupancy rate, managing project costing to maintain profitability, and boosting sales from current development phases and completed properties, to improve its business, which had been impacted by the Covid-19 outbreak.

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1MDB ex-CEO: Najib pressured me to replace 1MDB auditor

This was due to the fact that KPMG had found out that Najib, as 1MDB’s shareholder, was aware of 1MDB’s bogus investments in Brazen Sky Ltd, a company incorporated in the British Virgin Islands by Low Taek Jho (Jho Low), Mohd Hazem told the court during Najib's 1MDB-Tanore graft trial.

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PSOSL assures court again that disputed funds will not be moved

The assurance was made again today by PSOSL counsel Alex Tan to Justice Mohd Nazlan Mohd Ghazali and Malaysia's prosecution team, after the latter expressed concern upon learning that Tarek Obaid, a Saudi national who is CEO of PSOSL’s parent PetroSaudi International Ltd (PSI), had disputed the judge’s July 16 order.

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