Overview

• Senior Counsel Davinder Singh told the court that investigator Jacqueline Wei exploited Olivia Lum’s memory lapses by not showing her the Jan 14, 2011 banks’ letter during questioning.
• The disputed letter indicated in-principle support for up to $283 million for desalination and $244 million for power financing, conditional on project milestones.
• Wei argued she focused on tracing the desalination plant’s funding and insisted there was no obligation to withhold information from Lum.
• Singh noted the prosecution has yet to call representatives from Maybank Singapore and Maybank Kim Eng Securities despite their $720 million loan facility announced in 2013.
• The 56-day trial will run through early 2026 with bank officials, regulators and expert witnesses set to determine whether disclosure obligations were breached.