FORMER prime minister Najib Razak wanted the 1MDB-PetroSaudi US$1 billion (RM4.21 billion) joint venture to proceed, a witness in the 1MDB trial told the court today.

Ismee Ismail, the sovereign fund’s former director, said he got the impression that Najib wanted the joint venture done based on information conveyed by Mohd Bakke Salleh, 1MDB’s former chairman.

“The impression I got was that the prime minister wanted it (the joint venture) done,” Ismee told the court when cross-examined by lead defence counsel Mohd Shafee Abdullah.

Bakke, during the 1MDB audit trial last week said that Najib, in a phone call on September 26, 2009, prior to a board meeting, told him that the board should not look to the past and focus on past transactions.

Najib, Bakke testified, had told him to pay attention to the PSI proposal because the discussion had been going on for some time.

Najib instructed Bakke to look into the proposal because it was a government-to-government agreement, adding that he was looking forward to the signing ceremony.

This conversation with Bakke took place on businessman Low Taek Jho’s phone. Najib had called Low, who was in attendance. Low then passed the phone to Bakke to allow Najib to convey his message directly.

Meanwhile, Shafee then asked Ismee if Bakke had conveyed the exact message that was relayed to him by Najib.

“Yes, basically (Bakke) told the board that we have to firm up the PSI agreement, (but) not in so much detail as far as I can recall.”

Shafee then said that Bakke didn’t say that Najib directed the board to do the deal.

“(Najib said he) liked the board to consider and firm up a decision. He didn’t direct what decision to make.

“Wasn’t that the kind of message conveyed by Bakke to the board?” Shafee asked, to which Ismee said he based it on what Bakke said, he got the impression that Najib wanted it done.

Shafee then challenged Ismee that in fact didn’t know for sure what Najib had told Bakke.

“So you don’t know what the PM conveyed to Bakke, whether he had put stronger words to the board. I’m reading from the horse’s mouth.”

Deputy public prosecutor Ahmad Akram Gharib objected to Shafee’s line of questioning.

“All these questions are not relevant to this witness, as it was an opinion,” he told the judge.

However, Judge Collin Lawrence Sequerah allowed Shafee to ask the question, rephrasing to ask Ismee if it was possible what Bakke told the board was not exactly what Najib had told him.

“Only Bakke can answer that,” Ismee said.

1MDB and PSI signed a 50-50 joint venture in 2009 with the latter injecting US$1 billion in capital. The venture was eventually terminated, which saw 1MDB’s stake converted into Murabaha notes, equity and promissory notes supposedly worth US$2.3 billion.

Yet, in the end, 1MDB did not see any of this capital.

Najib, 68, is facing four charges of using his position to obtain RM2.3 billion in bribes from 1MDB funds and 21 charges of money-laundering involving the same amount.

The trial will continue this afternoon with 1MDB former chief financial officer (CFO) back on the witness stand. – April 6, 2022.