Jho Low suggested I open AmBank accounts for Arab donations: Najib

KUALA LUMPUR — The idea to open accounts with AmBank in 2010 came from Low Taek Jho, Datuk Seri Najib Razak told the High Court on Wednesday (Dec 4) in his RM42 million (S$13.71 million) SRC International Sdn Bhd trial.

The former Malaysian prime minister — who is accused of misappropriating the government company’s money — said Low made the suggestion to prepare an account in anticipation of financial support from Saudi Arabia’s monarch King Abdullah. King Abdullah had intended to offer aid in the form of personal donations mid-2010.

“After discussing the matter with both Low and his special officer the late Datuk Azlin Alias, it was decided that I should open a bank account to receive said donations.

“Low also suggested the new account be opened at AmBank since he could introduce me to Mr Cheah Teck Kuang, who was the bank’s managing director at that time,” said Najib in his witness statement, as he testified in his own defence.

He also confirmed that his January 2011 meeting with Mr Cheah at his private home in Jalan Langgak Duta was arranged by Low.

“Since the meet with Cheah was arranged through Low, Low was present to introduce both parties.

“After introductions, Cheah and I discussed the opening of bank accounts in private within a separate room without the presence of Low,” Najib said.

Mr Cheah had previously testified as the prosecution’s witness. He said Najib had opened two accounts — one savings and one current — after he provided Najib with the relevant forms.

Earlier in his testimony, Najib said he was not told the amount nor the date of the transaction, only that it would be managed through the Saudi Arabia monarch’s son.

“Low said he would inform me of the matter when more details followed through. By year’s end, Low confirmed the donation will be deposited soon,” he said.

He said the amount Low had estimated was between US$100 million (S$136 million) to US$200 million.

Najib said that between 2011 and 2014, he received a huge sum of money. This was believed to be the donation from King Abdullah, which Low was acting as the intermediary for on behalf of Saudi Arabia’s royal family.

Najib added that he was not shocked by the large amount, as the Saudi Arabian royal family was widely known to be charitable. He noted that they had made donations in the past to various foundations in the United States and other countries as part of their foreign policy.

“Several letters regarding the donation was also received by AmBank from me and Low at that time, in line with the donations received,” he said.

When asked about his wish to open the AmBank accounts, Najib said he intended to use the donations for his own corporate social responsibility initiatives and thus did not want the donations to mix with his other income. MALAY MAIL