FORMER prime minister Najib Razak said today Arul Kanda Kandasamy was paid RM5 million as he had accomplished his task in 1Malaysia Development Bhd (1MDB).
Arul Kanda even had to take a pay cut when he assumed the post of 1MDB chief executive officer, Najib told reporters at Parliament’s lobby today.
“So he has accomplished that part of his responsibility. You must see it in the context that whatever was paid to him was much smaller than what he was earning before he joined 1MDB,” he said.
Finance Minister Lim Guan Eng yesterday revealed in Dewan Rakyat that the salary package was approved by Najib.
Lim said the payment of RM5 million was offered to Arul Kanda for a six-month period between January and June this year.
“RM2.5 million has already been paid to him as an advance, and the remaining RM2.5 million was to be paid after June 30. Luckily there was a change in government. Otherwise this would have been paid to him as well.
“And this contract to pay his remuneration was approved by none other than the former prime minister himself,” he was quoted as saying in Dewan Rakyat yesterday.
1MDB had fired Arul Kanda two days before his contract lapses on grounds of dereliction of duties.
He was due to end his tenure in December last year but had his contract renewed for six months, starting January 1.
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 embezzlement and money laundering surfaced.
Foreign authorities including those in Singapore, Switzerland and the US Department of Justice (DoJ) have launched investigations into the allegations and some of those involved have been brought to book.
According to his biography on Bloomberg, Arul Kanda joined 1MDB at the age of 38 and was the third CEO of the state investment arm.
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.
Just before the 14th general election, Arul had embarked on a road tour to explain the 1MDB affair to the people. – August 1, 2018.
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Comments
This guy spouts nonsense , of late.
Defeat , as some have said , debilitates both mind and body , if not the soul altogether.
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