1MDB fires Arul Kanda

Updated 7 years ago · Published on 29 Jun 2018 9:21AM · 5 Comments

1MDB CEO Arul Kanda Kandasamy has been shown the door while he is on garden leave. – AFP pic, June 29, 2018.

1MALAYSIA Development Bhd (1MDB) has fired CEO Arul Kanda Kandasamy two days before his contract lapses, The Edge Markets reports

Sources said the termination letter was hand-delivered yesterday to Arul Kanda, who was on garden leave.

He was due to end his tenure in December last year but had his contract renewed for six months, starting January 1. 

The Malaysian Insight is trying to contact Arul Kanda for confirmation that he received the termination letter.

He was appointed in January 2015 to turn around the debt-ridden state investor over which a cloud of scandal has hung since allegations of embezzling and money laundering surfaced. The United States Department of Justice (DoJ) and Singaporean and Swiss authorities have launched investigations into the allegations and some of those involved have been brought to book .

Just before the 14th general election, Arul had embarked on a road tour to explain the 1MDB affair to the people.

He said it would be clear that 1MDB was a success when its two mega projects, the Tun Razak Exchange (TRX) and Bandar Malaysia, were completed.

“This will put to an end to the various allegations continuously hurled by the opposition at the company,” he had said in Johor Baru.

His comments sparked outrage, notably in his old teacher at the Royal Military College, who slammed him for his double talk.

According to his biography on Bloomberg, Arul Kanda joined 1MDB at the age of 38 and was the third CEO of 1MDB.

Before he joined 1MDB he was the executive vice-president, head of investment banking group, and head of corporate finance, in that order, at Abu Dhabi Commercial Bank PJSC.

He received his LLB in 1998 at the London School of Economics and Political Science and his Master’s in 2000 at the University College London. – June 29, 2018.

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Comments

  • He was fully abetting a crime. Tommy Thomas need to look for a crime and go after him. He must join Najib & Rosmah in jail

    Posted 7 years ago by Bigjoe Lam · Reply

  • I will miss his roadshows :)

    Posted 7 years ago by Henry Mancini Jr · Reply

  • Good, and please revoke whatever benefits and salary due to him for being an accomplice of Najib.

    Posted 7 years ago by Savari CJ · Reply

  • He threatened to sue the new finance minister of putting him in a bad light but he didn't. Was he still hoping to somehow get his RM5m ex-gratia payment promised to him by his former boss? Perhaps a pink diamond in lieu of ex-gratia will suffice but how and where is he going to spend all these riches?

    Posted 7 years ago by Roger 5201 · Reply

  • When Arul was on the road show and talking incessantly in press review of the 1MDB he did not realise that he was given free rein to implicate himself. Enough yardage of ropes was provided to him for the hangman noose. He was exhilarated with all the lime light and thinking that he was the vanguard for Najib. His make believes of being cocksure of himsel and took a head on challenge of the expert opinions onslaught in the scandulous debacles falsely lead him on his new found grounds in political expediency not realising the political landsacpe are changing in contrary to his wish. Strangely he converted himsel to the country official religion just to be seen as part of the team without a second thought on his sincerity of his beliefs in that religion. Very pathetic. He is a terrble liar and very insincere as depicted by LGE. Untrustworthy weasel that will have to go before the killing of the snake.

    Posted 7 years ago by Lee Lee · Reply