The Malaysian Insight

NAJIB Razak said he received US$800 million (about RM2.4 billion at 2013 exchange rates) from Saudi Arabia’s King Abdullah bin Abdulaziz Al Saud to prevent an Arab Spring-like uprising to spread to Malaysia and to prepare for the 13th general election in 2013.

The former prime minister said he believed the donation was channelled through the Tanore Finance Corp because it was linked to the Saudi king.

Najib testified that he only learnt of the Tanore transactions when he was questioned by the Malaysian Anti-Corruption Commission in 2018 and after his lawyers obtained banking documents from AmBank, which held the current account ending with “694”.

“At the time, I was told that the money that was transferred in US dollars was from an outside party. I was also shown a letter dated March 1, 2013, where it was said to be from a legitimate representative of King Abdullah,” Najib testified.

“The letter stated that King Abdullah had granted me US$800 million as a gift, which I can spend at my absolute discretion.

“As Umno president and BN chairman, I was authorised to collect donations for the party and election-related expenses. This is the practice of past party presidents and BN chairmen.

“King Abdullah recognised that there would be a general election in 2013. Basically, he did not want the ill-effects of the Arab Spring to spread to Malaysia, especially as he had a positive view of how Malaysia appeared to be a prime example of a country that practised the true meaning of Islam.

“King Abdullah wanted Malaysia to be a catalyst of a modern country that practises Islam. In addition, King Abdullah was concerned that Malaysia should not suffer the domino effect of the Arab Spring, and he hoped that the stable infrastructure and administration of the Malaysian government could serve as a model for progress in modern Islamic countries.”

The 2013 election was held on May 5. Najib told the court that by July 2013, there was a surplus of RM2.1 billion in his account, which he said was far more than he planned to use in the immediate future.

“I did not feel comfortable to have so much money in my account as I worry that if the information leaked out, it would surely be twisted out of context from a political standpoint.

“So I decided to return most of the donation, keeping just some of it. I also believe that by returning a large portion of the donations, which I did not use, it will show my good intentions to the Saudi royal family, which will be take into consideration, leading to them supporting me in the future.

Najib said ultimately, about US$620 million was returned to Tanore Finance Corp.

Najib’s charges in the SRC International trial are linked to RM4 billion in loans issued to the entity in 2011 and 2012, for which he is accused of receiving RM42 million in his accounts in 2014 and 2015.

The 66-year-old accused addressed the court via a 243-page witness statement on those allegations.

Najib’s legal team is led by Muhammad Shafee Abdullah, while Attorney-General Tommy Thomas leads the prosecution.

The trial, before justice Mohd Nazlan Mohd Ghazali, resumes on Monday. – December 4, 2019.