Former 1MDB CEO Hazem Abdul Rahman says he was worried about 1MDB’s financial position in 2014, and its ability to service a Maybank loan, taken in 2012.
“As CEO and head of management, I should have full control over 1MDB’s funds that were in and outside of Malaysia. According to Hazem, Azlin had advised him against quitting and to wait until 1MDB’s subsidiary company was listed in Bursa Malaysia. On the planned public listing of a 1MDB subsidiary, Hazem said that it failed to materialise because of bad press and anchor investors, such as Employees Provident Fund , not supporting the move.
He said 1MDB paid US$1.43 billion as security deposit in 2012 and the purported US$1.15 billion was paid as “top up collateral”, in extending the first payment .