News by Emir Zainul

After reading a letter from the Dewan Rakyat Speaker requesting that former prime minister Datuk Seri Najib Razak be allowed to attend Parliament.

Defence counsel Wan Aizuddin Wan Mohamad referred Shahrol to the projections made by Leissner, together with 1MDB legal officer Jasmine Loo and fugitive Low Taek Jho, or Jho Low, on the profits that would be made after 1MDB acquired the power assets.

However, Shahrol maintained that he was not a party in those discussions and as such, was not involved in making the "overpriced" projections.

Justice Collin Lawrence Sequerah: I understand that he has his duty, but I have my duty too. I say that trial continues tomorrow from 9.30am to 4.30pm with the usual lunch break.

Making the accusation during cross-examination at the 1MDB-Tanore trial in the High Court, Wan Aizuddin Wan Mohamad suggested that Shahrol had colluded with Goldman to value businessman Tan Sri Ananda Krishnan's power asset Tanjong Energy at a high price, given that the bank would be paid in terms of percentage of the deal.

On top of that, Rizal asked for a RM5 million cut for himself every year for a five-year period, which is also the duration of the project, said Rayyan Radzwill Abdullah, a business partner of Jepak.

Muhyiddin, who is Bersatu president, had applied to strike out the suit on the grounds that it is "frivolous, vexatious, scandalous and an abuse of court process" as former premier Dr Mahathir and the five others have no locus standi.

The project, which the group said is its largest ever, will entail the construction of the affordable homes on 36.6 acres of land across four sites in Shah Alam, Selangor, namely one site located in Seksyen U8 and the remaining three sites in Seksyen U17.

Shahrol: It was not something I wanted to read. The authors actually contacted me to ask what I thought about it and asked for some comments.

Responding to questions from Najib's lawyer Tan Sri Muhammad Shafee Abdullah, Shahrol said he should not be charged and that he never made a deal with the prosecution and the MACC to testify against Najib.

Lead defence counsel Tan Sri Muhammad Shafee Abdullah alluded during cross-examination today that the Directors Circular Resolution (DCR) pertaining to the conversion of 1MDB's 49% equity stake in PetroSaudi Oil Services Ltd (PSOSL), a subsidiary of PetroSaudi International Ltd (PSI), into fund units was worded in such a way to make it difficult for the board members to understand the processes involved.