Former Prime Minister Datuk Seri Najib Razak testified at the Kuala Lumpur High Court today, defending his role in the establishment of 1MDB and criticizing the prosecution’s case as politically motivated. He detailed the origins of the sovereign wealth fund, rejected claims of personal gain, and highlighted flaws in the investigation. Najib’s testimony calls into question the fairness of the charges against him and underscores his belief that the trial is a politically-driven effort to tarnish his reputation.
KUALA LUMPUR – Former Prime Minister Datuk Seri Najib Razak took the stand at the Kuala Lumpur High Court today, delivering a powerful testimony in his defense during the 1MDB trial. Over the course of his statements, Najib unveiled what he described as glaring flaws in the prosecution’s case, pointing to politically motivated charges and an unfair investigative process.
A Vision Passed Down: The Origins of TIA and 1MDB
During his testimony, Najib recounted the early days of the Terengganu Investment Authority (TIA), later renamed 1Malaysia Development Berhad (1MDB). He emphasized that the establishment of TIA was not his initiative but stemmed from a proposal by the then Yang di-Pertuan Agong, Sultan Mizan Zainal Abidin, during Tun Abdullah Ahmad Badawi’s tenure as Prime Minister.
“The idea of TIA was to safeguard Terengganu’s future through a sovereign wealth fund. This was a vision laid out by His Majesty Sultan Mizan and supported by Tun Abdullah’s Cabinet,” Najib explained.
The former Prime Minister clarified that TIA was designed to leverage the state’s natural resources, especially its oil wealth, to create long-term prosperity and reduce the poverty rate in Terengganu. He added that as Deputy Prime Minister at the time, his involvement was limited to ensuring the execution of Cabinet directives issued during Tun Abdullah’s administration.
When internal disputes within the Terengganu State Government threatened TIA’s operations, Sultan Mizan requested federal intervention. Najib argued that this led to the federalization of TIA, which subsequently became 1MDB. “The federal government’s involvement was a necessity to preserve the integrity of the sovereign wealth fund and protect the interests of both the state and the nation,” he stated.
Najib Alleges Lack of Transparency in Charges
Najib asserted that the prosecution’s case was riddled with ambiguities, highlighting that neither he nor his lawyers were given adequate details about the alleged offenses during the investigation stage.
“To this day, my lawyers and I are still left to speculate on what interest I supposedly failed to declare,” Najib said. “The prosecution has not clarified what I was expected to disclose when presenting matters related to TIA to the Cabinet. It feels as though we are playing a guessing game.”
Najib reiterated that he had no personal or financial interests in TIA, its successor 1MDB, or related entities such as Goldman Sachs and Ambank. He criticized the investigative process for failing to confront him with specifics of the allegations, thus denying him the opportunity to provide a contemporaneous explanation.
“A fair hearing can only happen after a fair investigation. Without a fair investigation, my right as an accused person has been permanently robbed,” Najib declared.
Defending His Role as Prime Minister and Finance Minister
Najib also addressed the allegations of abuse of power tied to his dual roles as Prime Minister and Finance Minister. He explained that holding both positions was not unique to his administration, noting that previous leaders such as Tun Dr. Mahathir Mohamad and Tun Abdullah Ahmad Badawi had done the same.
He described his actions in presenting the memorandum on TIA to the Cabinet as a routine fulfillment of his ministerial duties. Najib pointed out that the Cabinet had already approved the establishment of TIA and the issuance of RM5 billion in Islamic Medium-Term Notes (IMTN) during Tun Abdullah’s administration, with detailed discussions reflected in official minutes.
“My role was to act on directives that had been set in motion before I became Prime Minister. The memorandum I presented was a follow-up on decisions that had been made collectively by the Cabinet under Tun Abdullah,” he said.
Najib further stated that the federal government’s decision to take over TIA was driven by the need to prevent a financial default on the RM5 billion bonds backed by the government. He maintained that this action was not only lawful but also necessary to uphold national and state interests.
Allegations of Political Prosecution
Throughout his testimony, Najib repeatedly emphasized that the charges against him were politically motivated. He criticized the rushed nature of the investigation and prosecution, alleging that the decision to charge him was made before he had the chance to provide his full explanation.
“It is obvious that these charges are politically motivated. This trial is not just about me—it’s about ensuring that the rule of law is upheld for everyone,” he said.
Najib concluded by expressing hope that his case would bring attention to flaws in the investigative and judicial processes. “I do not wish for anyone else to endure what I have gone through. It is my hope that this injustice ends with me.”
The Trial Continues
Najib’s testimony sheds light on the complexity of the 1MDB case and raises questions about the fairness of the proceedings. As the trial continues, his defense team is expected to delve deeper into the allegations, challenging the prosecution’s narrative and seeking to establish Najib’s innocence.
This high-profile case, which has captivated national and international attention, remains pivotal in shaping perceptions of governance and accountability in Malaysia. – NMH
Datin Hasnah is the co-founder and CEO of New Malaysia Herald based in Kuala Lumpur, Malaysia.
With an extensive background in mass communication and journalism, she works on building up New Malaysia Herald and it’s partner sites. A tireless and passionate evangalist, she champions autism studies and support groups.
Datin Hasnah is also the Editor in Chief of New Malaysia Herald.
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