Bung Moktar said then-finance minister recommended RM150m Felcra investment, witness tells court
Monday, 16 Mar 2020 09:28 PM MYT
Habibah Suleiman, 72, said she did not know that the amount of investment sought was RM150 million as the sum approved at the board meeting was only RM50 million.“The board did ask YB Datuk Bung Moktar about the difference in amount that was invested in the Public Mutual Trust Fund. YB Bung had stated that he took along a Felcra application letter to meet the finance minister for his approval. YB Bung told the board that the finance minister recommended to him to invest RM150 million.
“Other details also stated that the board of directors had to ensure that Felcra Berhad continuously monitored the investment’s performance so that early risk mitigation can be carried out in the event of any clear decline in the equity market,” she said. Lawyers M. Athimulan and Datuk K. Kumaraendran are representing Bung Moktar and Zizie Ezette respectively.
The offence was allegedly committed at Public Bank Berhad, Taman Melawati Branch, No. 262-265, Jalan Bandar 12, Taman Melawati here, between 12.30 pm and 5pm, on June 12, 2015.
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