The High Court in Kuala Lumpur was told today that the decision by the board of directors of ECM Libra Berhad to value the company (ECM Libra) at RM330 million had no connection with Member of Parliament for Rembau Khairy Jamaluddin Abu Bakar.

ECM Libra Bhd chairman Kalimullah Masheerul Hassan said Khairy was not involved with ECM Libra at that stage and “it’s not because Khairy is the son-in-law of former prime minister Abdullah Ahmad Badawi”.

NONE Kalimullah ( left ), who filed a RM50 million defamation suit against lawyer Matthias Chang Wen Chieh, said Khairy joined ECM Libra Bhd in 2004, as a director.

“He was a relatively junior staff when he started to work with us. He joined as a director,” he said.

Kalimullah, a former New Straits Times Press Bhd (NSTP) deputy chairman, also denied that after ECM Libra was sold to South Peninsular Industries (SPI), preparations were made to bring Khairy into the company as a shareholder on the basis of his relationship with Abdullah, who was also Finance Minister at that time.

“People have connection with businessmen and politicians... the more the relationship the more easy for business to be done. It is good to have someone who has good connections,” he said.

matthias chang kalimullah pc 050706 the sun newspaper On June 29, 2006, Kalimullah filed a defamation suit after Chang ( right ) had allegedly made statements against him on June 13 the same year at a press conference, a report of which was published in the Singapore Straits Times through its Malaysian correspondent, Leslie Lau.

He is asking for RM50 million in damages, costs, interests and an injunction to restrain Chang from publishing similar words.

He said the words in the article meant that he was dishonest and had no credibility, was unreliable, tainted, rotten, faint-hearted, manipulative, and a betrayer of Malaysians.

Chang, previously a political secretary to former prime minister Dr Mahathir Mohamad, had also filed a counter-claim against Kalimullah on July 14, 2006, among others, seeking RM150 million in damages.

When cross-examined by lawyer RK Nathan whether that relationship was corrupt practice, Kalimullah said: “So, does it mean every investment banking in town is corrupt?”

The hearing before Judge Asmabi Mohamad continues on Jan 10.  

- Bernama