NOBODY wanted the top job at 1Malaysia Development Berhad (1MDB) as it was high risk and politically exposed, its former CEO Mohd Hazem Abdul Rahman told the Kuala Lumpur High Court today.

The 47-year-old prosecution witness said even his colleagues in 1MDB did not want the job as it meant taking on a company in debt and in need of a bailout.

Hazem said he suspected the company could not service its loans since September 2013 and expressed his wish to leave in 2014.

However, former prime minister Najib Razak’s special officer Azlin Alias told him to wait until after the public listing of 1MDB Energy.

“Azlin would always advise me to wait and resign after the public listing of 1MDB Energy. But at the end of October 2014, after I came back from haj, I was serious about resigning as 1MDB CEO,” Hazem said while reading out his witness statement today.

“I had asked Azlin to tell Jho Low to find a candidate to replace me as the officers under me did not want to replace me as CEO as it was exposed to political elements.”

Hazem was referring to fugitive financier Low Taek Jho, whom he said was running 1MDB from behind the scenes.

Hazem is the 10th prosecution witness in the graft trial against Najib who is on trial for four counts of power abuse to enrich himself with RM2.3 billion from 1MDB and 21 counts of laundering the same amount.

The witness admitted he felt inadequate as CEO as he did not know the company’s foreign investments which were handled by Jho Low and Jasmine Loo, 1MDB’s legal counsel.

“As a company CEO, I should have full access and control over the funds that come in and go out as the control over the company’s funding is with the management.

“But I only received orders from Jho Low not to disturb these funds.”

Hazem was earning RM93,000 a month when he first joined 1MDB in 2013 and RM97,000 when he resigned. He also got two bonuses during his tenure with a five-month bonus in 2013 and in 2014 (10 months).

He finally resigned in January 2015 when Arul Kanda Kandasamy came in as 1MDB president, as he felt his position as the CEO was redundant.

“On January 5, 2015, Arul Kanda reported in as the 1MDB president. That meant I would have to report to him as CEO.

“This is when I decided it was the right time for me to resign as CEO as the president’s portfolio was the same as CEO,” Hazem said.

Hazem completed reading from the witness statement today. The court will mention the case on October 5 to fix new hearing dates for cross-examination by the defence. – September 17, 2020.