KUALA LUMPUR (Dec 4): Former prime minister Datuk Seri Najib Razak has once again alluded to the fabrication of his signature in 1Malaysia Development Bhd (1MDB)-related documents implicating him in the multibillion-dollar scandal.

Taking to the stand to testify in his defence in the 1MDB-Tanore trial, Najib on Wednesday denied that the signature on the board of advisors’ (BOA) meeting minutes in October 2009 was his.

"No, it is not my signature. While my signature is basic and simple, making it easier for someone to replicate with enough practise, this forged signature is far from perfect," he said on Wednesday.

This is not the first time that Najib has cast doubt on the legitimacy of his signature, having brought the issue up in the SRC International Sdn Bhd criminal trial for which he has been convicted.

In 2020, during the SRC trial, appointed prosecutor Datuk V Sithambaram had asked Najib who would have been bold enough to forge the signature of the head of government. To this, Najib replied that he wouldn't know.

The ex-PM and ex-finance minister is currently serving his prison sentence after the apex court dismissed his appeal and review in the SRC case. In February, the Pardons Board reduced the initial 12-year jail sentence and fine of RM210 million to six years and a RM50 million fine.

Najib also denied that the particular meeting took place — as testified by former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi.

On Wednesday, Najib affirmed that the 1MDB BOA, which he had helmed, had never officially convened. This is a fact long-established in the course of the trial.

Najib said there was never a request by the company for the BOA to convene to seek the board’s advice.

Although there was no official BOA meeting, throughout the trial, there have been several BOA meeting minutes produced, in which Najib and Shahrol were the only attendees.

Among matters discussed in the October 2009 BOA meeting between Najib and Shahrol was the board of directors’ (BOD) concern over valuer Edward L Morse's “speed and valuation” of PetroSaudi International Ltd (PSI) assets for a joint venture (JV) with 1MDB. PSI was touted to be a Saudi-linked oil company.

The BOD wanted a second evaluation done.

However, according to documentation tendered in court, the BOA meeting minutes indicated that due to "political, bilateral" and other reasons, Najib, as the BOA chairman, was minuted to have said that a second valuation would have more "downside than upside" for 1MDB.

The assets were valued between US$2.7 billion and US$4.5 billion and prepared within eight days. This valuation was part of 1MDB's JV with PSI.  

However, money for the JV was eventually misappropriated, with US$700 million diverted to Good Star Ltd, an outfit linked to fugitive businessman Low Taek Jho (Jho Low).

The JV agreement was also not entered into with PSI, but rather with a company called PetroSaudi Holdings (Cayman) Ltd.

In this trial, Najib is accused of four abuse of power and 21 money-laundering charges.

The trial before presiding judge Datuk Collin Lawrence Sequerah continues.

Read also:
Najib: Shahrol, too, should be in the dock for 1MDB-Tanore
1MDB-Tanore: Najib cites Swiss judgement against PSI execs, says he is not implicated in fund misappropriation
1MDB-Tanore: Najib expresses disappointment in former second finance minister Husni's testimony against him
Najib: I don’t have personal interests in PSI deals, quizzed Bakke and board over opening of JV account before approval