Mohd Hazem Abdul Rahman, 48, said among the debts that had to be paid in 2014 was to Maybank for a loan taken by 1MDB to buy Tanjong Power shares in 2012, amounting RM2.5bil.
The 1MDB's fund abroad then was at an estimated US$3.8bil , he said, adding that the amount was enough to pay off Maybank's debt and also as start-up capital for any 1MDB projects in Malaysia. The persons with access to it were only fugitive businessman, Low Taek Jho or Jho Low, and Jasmine Loo , he said, adding that Jho Low had also instructed him to not interfere with the foreign funds.
However, he said, it could not be listed on Bursa Malaysia due to, among others, negative views on 1MDB by the media. Mohd Hazem said he also told Azlin to tell Jho Low to find a replacement because none of his subordinates wanted to replace him.