KUALA LUMPUR: The High Court today heard that Datuk Seri Najib Razak's former relationship manager at Ambank had a close working relationship with fugitive businessman Low Taek Jho or Jho Low.
Joanna Yu Ging Ping , who used to work at AmInvestment Bank, said Low would often invite her for meetings at his apartment together with several of his close associates.
The 51-year old former banker said she was introduced to Low by her superior known as Mr Chan at the entrepreneur's offce at the Petronas Twin Towers.
She said her first dealing with Low was in 2007 involving a Majestic Masterpiece project – an investment holding company.
"The meetings were mainly about the Majestic loan," she said during cross examination by Najib's lead counsel Tan Sri Muhammad Shafee Abdullah.
Najib, 69, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1Malaysia Development Berhad (1MDB) funds and 21 charges of money laundering involving the same amount.
Shafee then moved on to question Yu about 1MDB's predecessor – Terengganu Investment Authorities (TIA) and the banker said Low had portrayed himself as an adviser to the Board of Advisers.
Shafee: What were you initially told about TIA?
Yu: It was a sovereign wealth fund created to develop Terengganu. TIA aimed to raise RM10 billion or thereabout.
Shafee: What did Low tell you about his connection with TIA?
Yu: He said he was the adviser to the board of advisers.
Shafee: Are you sure? Did he not say he is the adviser to the Board of Directors?
Yu: I believe he said adviser to the board of advisers.
Yu said she also met Tengku Datuk Rahimah Sultan Mahmud who is the sister of Sultan Mizan Zainal Abidin, the ruler of Terengganu.
It was reported that Low was then already a close acquaintance of Sultan Mizan and his sister, Tengku Rahimah.
The concept of TIA was formulated based on discussions between Low, Sultan Mizan and the Terengganu government, and it had a capital of RM11 billion.
The capital was supposed to be derived from RM6 billion in oil royalty owed to the Terengganu state government, and the issuance of RM5 billion in Islamic Medium Term Notes (IMTN).
The trial before judge Datuk Collin Lawrence Sequerah continues.