“Funds that can be returned to SRC through these efforts will be used for the repayment of borrowings from KWAP. At the same time, this will reduce the government’s burden to repay the loan on behalf of SRC and enable the government to make a larger (fund) allocation for economic development and the people's welfare," Lim said.
Low, who was seen as the unofficial adviser to Datuk Seri Najib Razak, stated in the FAQ that he was not involved with 1MDB, although he was actually the mastermind behind the dealings, according to Najib's former special officer Datuk Amhari Efendi Nazaruddin at the witness stand today.
"Generally, I think the officers in PMO had never and could not even ask Datuk Seri Najib from where he received his funds, because this would be seen as having no confidence in his credibility," Amhari said.
Amhari: "This issue may hamper the two-way ties between the two countries (Malaysia and Abu Dhabi) and brings with it a political risk to the coming GE14, as the issue regarding 1MDB had not disappeared and is widely discussed worldwide."
Amhari revealed that Low had approached him and the late Azlin to use their names to open two accounts in Swiss bank BSI back in 2012.
The group said the one-year credit facility will also be used to help defray expenses from its Klang Valley development projects.
This is the third successful forfeiture made by the MACC.
The entity will follow the "Mubadala" model — a sovereign wealth fund belonging to UAE in Abu Dhabi.
When 1MDB matters were being highlighted widely, Amhari said Low would come and prepare the answers or direct Azlin to do damage control to reduce the impact of the 1MDB issue.
The rehabilitation project will now involve 265km of KTM Bhd railway tracks instead of 110km as announced earlier.
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