KUALA LUMPUR: The top management of 1Malaysia Development Bhd (1MDB) visited PetroSaudi International's (PSI) office in London to confirm the company's legitimacy, the High Court heard.
Former 1MDB non-executive director Tan Sri Ismee Ismail, 57, testified that he, along with board members, had gone to London in May 2011 for the meeting.
1MDB chairman Tan Sri Che Lodin Wok Kamarudin had requested the company's management to make the trip as 1MDB did not know PSI and wanted to meet their people.
The trip was arranged to coincide with a trip Datuk Seri Najib Razak made to London.
"I am not sure why the trip had to coincide with Najib's trip but we were taken to PSI's office and we had lunch together.
"We also had a board meeting at the London Hilton Hotel," he said in his witness statement at the RM2.28bil 1MDB trial involving Najib here on Wednesday (Nov 17).
According to Ismee, the 13th prosecution witness, he attended the meeting with Najib and PSI at Najib's suite in the Dorchester Hotel.
PSI was represented by Tarek Obaid and Patrick Mahoney.
Ismee said he remembered that fugitive businessman Low Taek Jho was at the suite but did not attend the meeting.
"In this meeting, all board members attended and the discussions were 'general' on investments between PSI and 1MDB.
"There weren't any specific agendas. They also spoke about the government-to-government relationship between Malaysia and Saudi Arabia," he added.
Ismee told the court that the board was satisfied to see PSI's office and assumed that PSI was genuine.
"In fact, the presence of Najib in this meeting showed that the joint venture (JV) with PSI was the right venture," he added.
The court had heard that 1MDB paid US$1bil in 2009 for a 40% stake in the JV while PSI held the remaining 60% stake.
Najib, 68, is facing four charges of abusing his position to obtain gratification totalling RM2.28bil in 1MDB funds and 21 counts of money laundering involving the same money.
The hearing continues before Justice Collin Lawrence Sequerah Thursday (Nov 18).