‘Zahid gave RM10 million as investment, not loan’ - Datuk K

21 Aug 2023 02:30pm
Businessman Datuk Seri Khalid Mohamad Jiwa at the Kuala Lumpur Courts Complex, today. - Photo by Bernama
Businessman Datuk Seri Khalid Mohamad Jiwa at the Kuala Lumpur Courts Complex, today. - Photo by Bernama

KUALA LUMPUR - Businessman Datuk Seri Khalid Mohamad Jiwa told the High Court here today that the RM10 million funds from Datuk Seri Ahmad Zahid Hamidi to businessman Datuk Wasi Khan were not in the form of a loan, but rather an investment.

Khalid, 64, or better known as Datuk K who was the eighth defence witness said this during the trial at the defence stage of Zahid’s criminal breach of trust (CBT), corruption and money laundering involving tens of millions of ringgit belonging to charity foundation Yayasan Akalbudi.

The husband to renowned local singer Datuk Seri Siti Nurhaliza Tarudin said Zahid helped provide the funds to Armada Holdings Sdn Bhd for a bidding on a coal supply tender for Tenaga Nasional Berhad (TNB).

He said around 2015, Wasi Khan @ Wasiyu Zama Israr approached him with the intention of establishing a coal supply company in Indonesia.

"The company required a paid-up capital of RM10 million to meet the minimum requirements as a supplier or contractor under TNB.

"He expressed his intention for Zahid to intervene and persuade TNB to reduce the paid-up capital to only RM5 million," he said while reading his witness statement before judge Datuk Collin Lawrence Sequerah (now a Court of Appeal judge).

However, Khalid said the Umno president did not do so as intervening in matters and policies set by TNB would be a an offence.

Nevertheless, he said at the end of the discussion, Zahid agreed to be involved by providing an investment of RM10 million.

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He said the original purpose of the meeting was not to request money, but Zahid willingly expressed his intention to invest without being asked.

To a question by deputy public prosecutor Datuk Mohd Dusuki Mokhtar, the witness said the multimillion-ringgit investment was ultimately used to qualify the company for the tender.

Mohd Dusuki: The amount of RM10 million is a large sum - do you agree with my suggestion?

Khalid: Yes, it's a lot because it's the amount we don't have.

Mohd Dusuki: Ideally, Datuk Seri should have just borrowed from a bank, not from the accused?

Khalid: As a former bank employee, I feel that they (the banks) wouldn't provide a loan if it involved such issue.

Mohd Dusuki: How do you know that the accused had RM10 million?

Khalid: Firstly, he is a corporate figure, an entrepreneur and a former banker. RM10 million is a significant sum for me, but not for Datuk Seri Ahmad Zahid.

Mohd Dusuki: Do you know the source of the RM10 million?

Khalid: I didn't ask.

Zahid, 70, is facing 47 charges including eight charges of corruption, 12 charges of CBT and 27 charges of money laundering involving Yayasan Akalbudi funds.

The trial continues at 2.30pm.