1MDB’s board of advisers never met, Irwan tells court

1MDB’s board of advisers never met, Irwan tells court

The former Treasury secretary-general says 1MDB never sought advice from its board of advisers.

Ex-Treasury secretary-general Irwan Siregar Abdullah received a monthly allowance of RM25,000 over two years as an adviser with 1MDB. (Bernama pic)
KUALA LUMPUR:
Former Treasury secretary-general Irwan Serigar Abdullah told the High Court hearing Najib Razak’s 1MDB trial that its board of advisers never met to discuss anything in relation to the sovereign wealth fund during his term in office.

Irwan said the board of advisers was only required to convene a meeting if requested to do so by the board of directors.

“If (the board of directors) need advice, they can refer (to the board of advisers),” said Irwan.

Agreeing that under Article 93(1) of 1MDB’s memorandum and articles of association, the board of advisers could only convene a meeting if requested to do so by the board of directors, Irwan added, “They never sought any advice.”

Cross-examined by Najib’s lead counsel Shafee Abdullah, Irwan told the court that although no meetings were held, he would sometimes meet Najib at his house or office “to render advice over 1MDB matters”.

“(It) can be unofficial. I thought giving advice unofficially was also (part of my function),” he said.

Irwan denied that as Treasury secretary-general it was wrong of him to also sit on 1MDB’s board of advisers. However, his dual role did put him in a “delicate position,” he said.

Shafee: Were you surprised that with all the problems (in 1MDB), the board of directors never asked for your advice?

Irwan: Yes, I was surprised.

Cross-examined further by co-counsel Wan Aizuddin Wan Mohamed, Irwan maintained that there was nothing wrong with him receiving remuneration and allowances as a member of 1MDB’s board of advisers despite his position as Treasury sec-gen.

Last week, Irwan testified that he was paid a monthly allowance of RM25,000 over a period of two years (2013 to 2015) for sitting on 1MDB’s board of advisers.

Najib is standing trial on 25 counts of money laundering and abuse of power over the alleged misuse of 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.

The hearing continues before Justice Collin Lawrence Sequerah on Dec 5.

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