IGP Tan Sri Mohamad Fuzi Harun speaks to the media during a press conference in Bukit Aman June 28, 2018. ― Picture by Ahmad Zamzahuri

KUALA LUMPUR, June 28 — Police are certain of their investigations and procedures that led to the estimated RM1.1 billion value for cash and valuables seized from properties linked to former prime minister Datuk Seri Najib Razak, said Tan Sri Mohamad Fuzi Harun.

Responding to Najib’s reported dispute of the haul’s value, the inspector-general of police backed his Commercial Crime Investigation Department’s handling of the entire process as beyond reproach.

“We hired experts to value the seized items. We did not value it the conventional way.

“So we are certain with the expertise we called in and we stand by it,” he told the media in a press conference during the closing of Ops Selamat for 2018 in conjunction of Hari Raya.

Najib told Malaysiakini yesterday that the valuation of items was not as reported by the police.

He claimed the prices of jewellery acquired and gifted 20 years ago were much lower when new and that their current value was a result of appreciation, which he said made the appraised value open to interpretation.

Yesterday Bukit Aman Commercial Crime Investigation Department director Commissioner Datuk Seri Amar Singh revealed the appraised cost of 12,000 pieces of jewellery alone to be RM440 million, with their market price estimated at between RM660 million and RM880 million.

The market value includes workmanship cost, initial labour charges, design fees and more.

The police also seized 567 handbags worth RM51.3 million, 423 watches worth RM78 million and 234 pairs of sunglasses valued at RM374,000.

The count of cash contained in 35 bags seized from three units at Pavilion Residences was RM116.7 million in 26 different currencies, while another half a million ringgit in cash was also recovered from Najib’s home in Taman Duta.