Sultan Mizan appointed Jho Low as TIA advisor – Najib

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Former Prime Minister, Datuk Seri Najib Tun Razak walks out of the Kuala Lumpur High Court during the SRC International Sdn Bhd trial recess. PIX: SYAFIQ AMBAK / MalaysiaGazette / 03 DECEMBER 2019 Terengganu Investment Authority TIA Jho Low Taek Jho
Former Prime Minister, Datuk Seri Najib Tun Razak walks out of the Kuala Lumpur High Court during the SRC International Sdn Bhd trial recess.PIX: SYAFIQ AMBAK / MalaysiaGazette / 03 DECEMBER 2019

By Kasthuri Jeevendran

KUALA LUMPUR – Former Prime Minister, Datuk Seri Najib Tun Razak revealed how Low Taek Jho or Jho Low, the close acquaintance of former Yang di-Pertuan Agong Sultan Mizan Zainal Abidin played a role in the Terengganu Investment Authority (TIA).

According to Najib, the fugitive businessman was appointed as the advisor to Sultan Mizan to determine the direction of TIA in the development of Terengganu.

TIA was then renamed as 1Malaysia Development Berhad (1MDB) after Najib became the Prime Minister in 2009.

According to Najib, Jho Low was also a close acquaintance to Sultan Mizan’s sister, Tengku Datuk Rahimah Almarhum Sultan Mahmud.

“As what I understood, the concept of TIA emerged after the discussion between Jho Low, Sultan Mizan and the then State Government of Terengganu.

“I also understood that Jho Low was appointed as the advisor to the Chairman of TIA Board of Directors, Tuanku Mizan himself.

“Jho Low portrayed himself as a very influential individual in the Western Asia countries.

“I believed that the businessman was able to ease the investment transactions as the Western Asia countries had cash excess due to the rise of oil price.

“Therefore, I thought that Jho Low’s influence and connections would truly be able to facilitate the objectives of 1MDB investments as we wished,” he said while reading out his statement before High Court Judge Mohd Nazlan Mohd Ghazali during the SRC International defence trial today.

Najib, who testified under oath said that the influence portrayed by Jho Low also made the latter remained as an advisor despite the Federal Government took over the TIA.

The Member of Parliament of Pekan further said that although TIA was renamed as 1MDB, its Board of Directors was maintained based on their experience and credentials in the operation of a Government Linked Company (GLC).

The names of the Board of Directors mentioned by Najib included Tan Sri Ismee Ismail, Datuk Mohd Bakke Salleh, Tan Sri Datuk Azlan Zainol and Datuk Shahrol Azral Ibrahim Halmi, who was also the Chief Executive Officer of TIA.

Najib further revealed that after the decision to take over TIA by the Federal Government where its stakes would be held by the Ministry of Finance Incorporated (MoF Inc), the Board of Advisors informed about the needs to amend the existing Memorandum and Articles of Association (M&A) of 1MDB. –MalaysiaGazette

Read More:

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1MDB trial: Sultan Mizan did not like Jho Low

Amhari doubted Jho Low as advisor to Sultan Mizan

1MDB: Jho Low transferred US$790.3 million of excess security deposit into Najib’s account

1MDB: Najib proceeded to issue IMTN despite it angered Sultan Mizan

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