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The new agreement also includes SIA’s subsidiaries SilkAir and Scoot, as well as Firefly, the sister airline of MAB.

Cross-examined by Datuk Seri Najib Razak's counsel, Tan Sri Muhammad Shafee Abdullah, Datuk Shahrol Azral Ibrahim Halmi said that at the time — between 2009 and March 2010 — he would not have classified the transaction as suspicious.

During the cross-examination, Najib's lawyer Tan Sri Muhammad Shafee Abdullah went through various bank statements which showed that Good Star Ltd, a company linked to Low Taek Jho, had made the US$85 million payment to Tarek. Low is popularly known as Jho Low.

That comprises RM2.4 billion allocated to pay their debt obligations this year and RM2.7 billion for 2020, and the RM8.8 billion paid previously in 2017 (RM6.7 billion) and 2018 (RM2.1 billion), he said in a statement yesterday.

Datuk Shahrol Azral Ibrahim Halmi who was the former CEO to the now-defunct sovereign wealth fund, admitted to the High Court yesterday that he had raised the matter of the US$700 million transfer to Good Star, in a private meeting with Najib back in October 2009.

Only RBS Coutts Bank Ltd — which held Good Star's account number 11116073 — requested information on the ultimate beneficiary of the funds from Deustche Bank KL prior to crediting money into the account.

KPS holds concession agreements with the Malaysian government for seven polytechnic hostels in six states nationwide, entailing design, construction, and facilities management.

"... former 1MDB executive director Casey Tang Keng Chee was "1MDB Officer 1" in the DoJ's report."

This means the government would then lose out on corporate taxes and income taxes as a big part of taxes are paid by tycoons, he said.

The new unit placement to third party investors to be identified later represents up to 20% of Axis REIT's total issued units of 1.24 billion units as at Sept 30, 2019.