KUALA LUMPUR (Aug 1): A transfer of RM27 million of SRC International Sdn Bhd's funds — codenamed 'Eagle 27' — into Datuk Seri Najib Razak's 880 account was misrepresented as a donation from royalty by fugitive businessman Low Taek Jho, when in fact it had originated from SRC's account.

Former AmBank relationship manager Joanna Yu Ging Ping confirmed that the RM27 million had originated from a RM35 million transfer from the accounts of SRC to Putra Perdana Construction Sdn Bhd's (PPC) account.

The RM35 million transfer followed the cancellation of three bank drafts for the transfer of RM139 million in SRC's funds.

Following that, some RM34.99 million was transferred to Permai Binaraya Sdn Bhd's account from PPC's account and finally 'Eagle 27' was transferred to Najib's 880 account to ensure that cheques issued from the account were not returned.

"The RM27 million was actually from SRC?" asked Harvinderjit.

"Yes," said Yu.

"And it was all done under the instruction of Jho Low. It looks like it," suggested the lawyer.

"Yes," said the witness.

Yu agreed with Harvinderjit's suggestion that Low had lied to her, by telling her that 'Eagle 27' was a donation from royalty.

'Eagle 27' relates to Najib's other trial involving three charges of money laundering before High Court Judge Mohamed Zaini Mazlan, which the prosecution had previously wanted to be tried together with the seven other charges involving RM42 million in SRC, but the plan was scrapped due to a procedural issue.

In total, some RM170 million was transferred from SRC's account between July and August in 2014, comprising the abovementioned RM35 million, RM105 million and another RM30 million.

Several days before the RM105 million fund transfer, Low had asked Yu about US dollar transfers, enquiring whether Bank Negara Malaysia (BNM)'s approval was required for transfers below RM50 million.

He then asked if he could transfer a total of RM100 million in US dollars via two RM50 million transactions through two separate companies and therefore did not have to obtain the central bank's approval.

However, Yu said she could not remember if she ever got back to Low regarding his inquiry.

Harvinderjit suggested that this showed the fugitive financier's intention to take RM100 million out of SRC's account and convert them to US dollars before sending the funds out, without reporting all this to the central bank.

"It looks like it," said Yu.

However, Low opted to go with a local Rentas transfer instead, which only required some form of supporting documents, although Yu cannot recall if she ever received the said documents.

During cross-examination, the lawyer kept emphasising the point that Low was the one issuing instructions to 1Malaysia Development Bhd (1MDB) finance director Terence Geh and Yayasan Rakyat 1Malaysia CEO Ung Su Ling for the movement of these funds.

The lawyer pointed out a BlackBerry Messenger (BBM) exchange between Ung and Yu, with the former saying that she could imagine that the "conduct of these accounts are poor".

"She was referring to how the 880, 898 and 906 accounts were being conducted, so she had an understanding of the conduct of the accounts," suggested Harvinderjit.

"Based on the [BBM] message, yes," said Yu.