Zahid’s YAB trial: RM10mil given to businessman was an investment, says Datuk K

PETALING JAYA: The RM10mil from Datuk Seri Dr Ahmad Zahid Hamidi to businessman Datuk Wasi Khan was a form of investment, not a loan, the Kuala Lumpur High Court heard.

Businessman Datuk Seri Khalid Mohamad Jiwa said this on Monday (Aug 21) during the defence proceeding involving Ahmad Zahid, who is accused of money laundering and criminal breach of trust (CBT) involving funds belonging to charitable foundation Yayasan Akalbudi.

Khalid, also known as Datuk K, is the husband of Malaysian singer Datuk Seri Siti Nurhaliza Tarudin.

ALSO READ: Zahid’s YAB trial: Datuk K allowed to testify with sunglasses on

Khalid said Ahmad Zahid provided the funds for Armada Holdings Sdn Bhd to bid on a tender for coal supply to Tenaga Nasional Berhad (TNB), according to Malay daily Sinar Harian.

A meeting was held sometime in 2015 with Wasi, where it was learned that the company needed RM10mil in capital.

“(This amount) was to fulfil TNB’s minimum requirement of a supplier or contractor.

“Wasi actually wanted Ahmad Zahid to intervene so that TNB would reduce the paid-up capital from RM10mil to RM5mil,” Khalid, the eighth defence witness, said in his witness statement.

Ahmad Zahid was then deputy prime minister and home minister during the Barisan Nasional administration.

However, Khalid told the High Court that Ahmad Zahid did not interfere in the process set by TNB as that would be a crime.

Khalid said that at the end of the meeting, Ahmad Zahid agreed to provide RM10mil as a form of investment.

During cross-examination by DPP Datuk Mohd Dusuki Mokhtar, the witness maintained that the sum provided was only to fulfil the tender requirements.

ALSO READ: Datuk K for the defence: Siti’s husband to testify on Zahid’s behalf in YAB trial

Asked if he knew the source of the RM10mil given by Ahmad Zahid, Khalid replied: “I did not ask.”

He had said earlier that he knew Ahmad Zahid had the financial capacity to provide RM10mil as he was from the corporate world, in addition to being an entrepreneur and former banker.

“For me, RM10mil was a lot, but not for Ahmad Zahid,” Khalid said.

Ahmad Zahid is currently on trial for 47 charges: eight for corruption, 12 for CBT and 27 for money laundering.

For the CBT case, the Umno president is charged as an agent, the trustee for the foundation, who in that capacity had breached the trust placed in him by providing RM10mil to Armada Holdings.

The trial continues before Justice Collin Lawrence Sequerah.