The Najib Razak trial heard today that businessman Low Taek Jho had approached Ambank in 2009 for a RM10 billion bond issuance with a 30-year tenure for a sovereign wealth fund to develop Terengganu but which later became 1Malaysia Development Bhd (1MDB).
Joanna Yu, a former relationship manager at Ambank, testified at the Kuala Lumpur High Court that the bank held a meeting with Terengganu Investment Authority (TIA) officials to discuss the issuance of the bond.
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