SINGAPORE (June 18): Fresh documents and emails sighted by The Edge reveal that the relationship between PetroSaudi International executives Tarek Obaid and Patrick Mahony and Low Taek Jho, or Jho Low, was already in trouble just a year after 1Malaysia Development Bhd (1MDB) had poured US$1.0 billion into a joint venture (JV).

1MDB had remitted US$1.0 billion on Sept 29, 2009, of which US$700 million was illegally diverted to Jho Low’s company Good Star Ltd. The JV was on shaky grounds and Jho Low and his partners were seeking another US$500 million from 1MDB.

Sometime in August 2010, the plan was for the three men to meet former Malaysian prime minister Najib Razak to discuss the JV.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook