SRC trial: RM32mil of 170mil 'advance' ended up in Najib's personal bank accounts
THE STAR
Wednesday, 26 Feb 20206:16 PM MYT
By NURBAITI HAMDAN
KUALA LUMPUR: A total of RM170mil entered Putra Perdana Constructions (PPC) Sdn Bhd as an "advance" for a contract and from that amount, RM32mil ended up in Datuk Seri Najib Razak's personal bank accounts, the High Court was told.
Putrajaya Perdana Bhd (PPB) group managing director Datuk Rosman Abdullah, 53, testified at the SRC International Sdn Bhd trial involving Najib that monies were transferred into its subsidiary company's bank account in three tranches.
Rosman then said that the three tranches were RM35mil on July 8,2014; RM105mil on July 14,2014; and RM30mil on Aug 8,2014 and added the transfers were made on the instructions of fugitive financier Low Taek Jho, or Jho Low.
"I was initially told by Low that the RM170mil was an advance for a contract he was negotiating to be entered into by PPC," he said.
PPB is the parent company that owns PPC.
He added that out of the RM170mil, RM27mil was banked into Najib's AmBank account ending 880 on July 8,2014 and RM5mil was banked into his account ending 906 on Sept 10,2014.
However, Rosman said he did not know that the accounts belonged to Najib.
"I was shocked when my attention was later drawn to certain Internet publications which alleged that the accounts belonged to Najib. When I was remanded by the Malaysian Anti-Corruption Commission (MACC) in July 2015, the investigators also told me the same thing," he said.
Rosman said this during the examination-in-chief by Najib's lawyer Farhan Read here on Wednesday (Feb 26).
He is the major shareholder of the PPB Group through his wholly-owned company Cendana Destini Sdn Bhd.
The company acquired an interest in the PPB Group from UBG Bhd (Utama Banking Group) which is owned by Low for a purchase price of RM240mil.
The sale agreement was in 2012 but the acquisition was only completed on April 13,2015, after the purchase price of RM240mil was fully paid.
At the time the RM170mil came into PPC, Low was still the beneficial owner of PPB Group.
"I did not think I had a say in this, as long as there was no eventual liability to the PPB Group when my buy-out was concluded," he added.
The witness said there was no agreement to advance monies to Najib at any time and he had never consented to such action.
Rosman was arrested by the MACC on July 24,2015 and remanded for four days before he was released.
He said prior to his arrest, Low came across as a competent and trustworthy businessman.
"We developed what seemed to me at that time to be a cordial professional relationship. I thought of him also as a micro manager.
"Subsequent to my arrest and remand, and now having what seems to be a clear picture of what happened in the RM170mil transfer episode, I would describe him as a highly smooth and effective scammer in so far as these transactions are concerned," he added.
Najib is facing seven charges – three for criminal breach of trust, one for abuse of power and three for money laundering involving SRC International funds totalling RM42mil.
The hearing continues before Justice Mohd Nazlan Mohd Ghazali tomorrow (Feb 27).
Wednesday, 26 Feb 20206:16 PM MYT
By NURBAITI HAMDAN
KUALA LUMPUR: A total of RM170mil entered Putra Perdana Constructions (PPC) Sdn Bhd as an "advance" for a contract and from that amount, RM32mil ended up in Datuk Seri Najib Razak's personal bank accounts, the High Court was told.
Putrajaya Perdana Bhd (PPB) group managing director Datuk Rosman Abdullah, 53, testified at the SRC International Sdn Bhd trial involving Najib that monies were transferred into its subsidiary company's bank account in three tranches.
Rosman then said that the three tranches were RM35mil on July 8,2014; RM105mil on July 14,2014; and RM30mil on Aug 8,2014 and added the transfers were made on the instructions of fugitive financier Low Taek Jho, or Jho Low.
"I was initially told by Low that the RM170mil was an advance for a contract he was negotiating to be entered into by PPC," he said.
PPB is the parent company that owns PPC.
He added that out of the RM170mil, RM27mil was banked into Najib's AmBank account ending 880 on July 8,2014 and RM5mil was banked into his account ending 906 on Sept 10,2014.
However, Rosman said he did not know that the accounts belonged to Najib.
"I was shocked when my attention was later drawn to certain Internet publications which alleged that the accounts belonged to Najib. When I was remanded by the Malaysian Anti-Corruption Commission (MACC) in July 2015, the investigators also told me the same thing," he said.
Rosman said this during the examination-in-chief by Najib's lawyer Farhan Read here on Wednesday (Feb 26).
He is the major shareholder of the PPB Group through his wholly-owned company Cendana Destini Sdn Bhd.
The company acquired an interest in the PPB Group from UBG Bhd (Utama Banking Group) which is owned by Low for a purchase price of RM240mil.
The sale agreement was in 2012 but the acquisition was only completed on April 13,2015, after the purchase price of RM240mil was fully paid.
At the time the RM170mil came into PPC, Low was still the beneficial owner of PPB Group.
"I did not think I had a say in this, as long as there was no eventual liability to the PPB Group when my buy-out was concluded," he added.
The witness said there was no agreement to advance monies to Najib at any time and he had never consented to such action.
Rosman was arrested by the MACC on July 24,2015 and remanded for four days before he was released.
He said prior to his arrest, Low came across as a competent and trustworthy businessman.
"We developed what seemed to me at that time to be a cordial professional relationship. I thought of him also as a micro manager.
"Subsequent to my arrest and remand, and now having what seems to be a clear picture of what happened in the RM170mil transfer episode, I would describe him as a highly smooth and effective scammer in so far as these transactions are concerned," he added.
Najib is facing seven charges – three for criminal breach of trust, one for abuse of power and three for money laundering involving SRC International funds totalling RM42mil.
The hearing continues before Justice Mohd Nazlan Mohd Ghazali tomorrow (Feb 27).
