Proceedings kicked off yesterday morning with former 1MDB CEO Shahrol Halmi still on the stand, where he has been for more than a month. Patrick Teoh presents for the Malaysian Insight.
In his questioning today, Shahrol revealed that PetroSaudi owes 1MDB $2.2bn (RM9.1bn), which included a failed joint venture, Murabaha borrowings and loans.
Not only that, it seemed that the 1MDB-PetroSaudi joint venture company continued to use 1MDB’s name even after the company disposed of its stake when they converted their investment into Murabaha notes.
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