Defence, ex-1MDB CEO lock horns over support letter for 1MDB-Aabar BVI bond deal

Defence, ex-1MDB CEO lock horns over support letter for 1MDB-Aabar BVI bond deal - Hello loyal readers FeedGoogle, In the article you are reading this time with the title Defence, ex-1MDB CEO lock horns over support letter for 1MDB-Aabar BVI bond deal, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

1MDB TRIAL | Najib Abdul Razak’s defence team and 1MDB’s former CEO locked horns in court today over whether the latter understood the full implication of signing a Finance Ministry’s letter of support for the issuance of US$3 billion in bonds from a joint venture between the sovereign wealth fund and Aabar Investment PJS Limited (Aabar BVI). Counsel Wan Aizuddin Wan Mohammed was grilling the ninth prosecution witness, Shahrol Azral Ibrahim Halmi, over the impact of the latter signing the 2013 letter which purportedly, in effect, acted as a guarantee from the Malaysian government that the bonds’ issuer would repay 100 percent of the principal. The exchange took place during former prime minister Najib’s 1MDB corruption trial at the Kuala Lumpur High Court. The letter of support was for the joint venture between 1MDB and Aabar BVI, through which 1MDB would commit US$3 billion whil…