17% of US$500 million payment went directly to Good Star, court hears


Timothy Achariam Bede Hong

Former 1MDB CEO testifies that he has no idea what happened to US$500 million 1MDB transferred to its joint venture with PetroSaudi International, supposedly for Murabaha financing. – The Malaysian Insight pic by Kamal Ariffin, November 6, 2019.

PETROSAUDI (PSI) CEO Tarek Obaid transferred about US$83 million (RM250 million) to a company controlled by fugitive financier Low Taek Jho, days after 1MDB put up US$500 million as part of a Murabaha financing agreement in September 2010, the high court heard today.

At Najib Razak’s criminal trial today, the prosecution’s 9th witness – former 1MDB CEO Shahrol Azral Ibrahim Halmi – verified documents that showed the US$83 million transfer came days after US$500 million arrived in PSI accounts, which 1MDB had staked for a Murabaha financing agreement with PSI.


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