Datuk K: RM10 Million In Akalbudi Foundation Funds To Armada Holdings For Investment

Businessman Datuk Seri Khalid Mohamad Jiwa: The RM10 million had been returned to the foundation, with interests. Bernama Pic.
Businessman Datuk Seri Khalid Mohamad Jiwa: The RM10 million had been returned to the foundation, with interests. Bernama Pic.

Businessman Datuk Seri Khalid Mohamad Jiwa, also known as Datuk K, claimed that the RM10 million had been returned to the foundation together with RM69,722.65 in interest.

KUALA LUMPUR — The High Court here was told today that the RM10 million fund given by Datuk Seri Dr Ahmad Zahid Hamidi through Akalbudi Foundation (YAB) to Armada Holdings Sdn Bhd to bid for a tender to apply coal to Tenaga Nasional Berhad (TNB) was for investment purposes.

Businessman Datuk Seri Khalid Mohamad Jiwa, better known as Datuk K, 64, said that the RM10 million had been returned to the foundation, with interest amounting to RM69,722.65.

He disagreed with a suggestion by deputy public prosecutor Datuk Mohd Dusuki Mokhtar that the funds were given as loans.

When questioned if it ever crossed his mind how Ahmad Zahid could have RM10 million, Khalid, who has known the deputy prime minister for almost 30 years since he was working as a manager of the loan department at Bumiputra Bank (now CIMB bank), said Ahmad Zahid was a corporate figure, an entrepreneur, a former banker and also had various financial resources.

 “The long period of acquaintance made me close to Datuk Seri Zahid and I know his nature and character. Among the qualities that I know of is that he is generous, likes to help people who need help,” he added.

YAB Funds

Khalid, who is the eighth defence witness, was testifying during Ahmad Zahid’s defence hearing on 12 charges of breach of trust, eight charges of corruption and 27 charges of money laundering involving tens of millions of ringgit in Akalbudi Foundation funds.

When reading out his witness statement, Khalid said he was close to Ahmad Zahid and that he and his wife, Datuk Seri Siti Nurhaliza Tarudin, had also been to the holy land several times with Ahmad Zahid and his wife, Datin Seri Hamidah Khamis, to perform the umrah.

Regarding the RM10 million from Akalbudi Foundation to Armada Holdings, Khalid said it began in 2015 when he met a friend, Datuk Wasi Khan @ Wasiyu Zama Israr, who is the 21st prosecution witness.

“Wasi Khan told that he intended to set up a coal-supplying company in Indonesia and needed a paid-up capital of RM10 million to meet the minimum requirements to be registered as a supplier or contractor under TNB.

“Datuk Wasi Khan knows that I am a close acquaintance of Datuk Seri Zahid and asked for my help to arrange a meeting for him with Datuk Seri Zahid.


“I agreed and arranged a meeting for the two of us with Datuk Seri Zahid at the latter’s office at the Home Ministry in Putrajaya,” he said.

Khalid said that during the meeting, Wasi Khan informed Ahmad Zahid of his intention and also requested Ahmad Zahid’s intervention to ask TNB to reduce the amount of paid-up capital to RM5 million only.

“However, Datuk Seri Zahid said he could not as the matter was not in his jurisdiction and that it would be an offence for him to interfere in the affairs and policies that have been set by TNB,” he added.

Khalid said the meeting ended with Ahmad Zahid agreeing to provide the RM10 million in the foundation and after receiving the funds, Wasi Khan set up Armada Holdings Sdn Bhd.

He told the court that to his understanding, the RM10 million given by Ahmad Zahid to Wasi Khan was an investment.

“I also know that Datuk Seri Zahid is a former banker and he has knowledge about this matter.

“The RM10 million in the foundation is intended solely to enable Armada Holdings to be eligible to bid for the tender as a coal supplier to TNB,” he said.

The hearing before Judge Datuk Collin Lawrence Sequerah continues. — Bernama

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