Arul Kanda (the one and only employee of 1MDB) versus Lim Guan Eng (Minister of Finance)…

1 June 2018

MOF under Najib agreed to RM5m ex-gratia for Arul Kanda?

Andrew Ong  |  Published on  |  Modified on

EXCLUSIVE | The Finance Ministry, under the previous administration, agreed to an RM5 million ex-gratia payment for 1MDB president Arul Kanda Kandasamy and to place him on garden leave until his contract expired on June 30, according to sources.

Malaysiakini also sighted a correspondence between then finance minister Najib Abdul Razak and then treasury secretary-general Irwan Serigar Abdullah.

According to sources, half of the amount – RM2.5 million – is to be paid after Arul Kanda’s contract expires. Malaysiakini could not confirm if the first instalment had been paid.

Malaysiakini could not reach Najib, his aides or Irwan for confirmation whereas Arul Kanda has not responded to requests for comments as well.

Last Wednesday, Arul Kanda, who is on a six-month contract, told Finance Minister Lim Guan Eng that he was on garden leave.

This implies he is in the process of leaving the firm but has been instructed not to come to the office. However, he still receives his salary.

Arul Kanda was among several key 1MDB officials to brief Lim on the status of the firm.

The Finance Ministry is the 100 percent shareholder of 1MDB.

https://www.malaysiakini.com/news/427896

The Immigration Department’s database shows 1MDB CEO Arul Kanda Kandasamy has been slapped with a travel ban. – Malaysiakini

24 May 2018

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Guan Eng reminds Arul: You’re still 1MDB staff

May 24, 2018

Finance Minister says the 1MDB president is the only employee of the company, which is solely owned by the ministry.

 

PUTRAJAYA: 1MDB president Arul Kanda was reminded today that he remains an employee of the company, and was, in fact, the company’s only employee.

Finance Minister Lim Guan Eng, issuing the reminder in the wake of Arul Kanda’s response to criticism, also said: “1MDB is now solely owned by the finance ministry.”

Lim was asked if he would dismiss Arul Kanda for remarks that Arul Kanda had made, but said he would take it step by step and inform the public of any developments.

Arul Kanda had said he was seeking legal advice after Lim called him “dishonest” following a meeting between Finance Ministry officials and former 1MDB directors and management yesterday.

Lim said Arul Kanda had every right to sue him, if that is what he wanted to do.

“Arul Kanda has made many promises so if he wants to sue we will be waiting for him. I do not know whether he would do that but he is free to do so,” Lim said.

http://www.freemalaysiatoday.com/category/nation/2018/05/24/guan-eng-reminds-arul-youre-still-1mdb-staff/

Guan Eng: We’ll be waiting for Arul Kanda’s suit

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PUTRAJAYA, May 24 — Finance Minister Lim Guan Eng said 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy may take legal action if he wants to.

Lim also reminded Arul Kanda that he is currently the sole employee of 1MDB, that is owned by the ministry itself.

“He said he wants to sue we will be waiting for him. He is free to do so.

“He is the only employee in 1MDB, that is solely owned by the ministry,” Lim said in a press conference here.

https://www.malaymail.com/s/1634584/guan-eng-well-be-waiting-for-arul-kandas-suit#.WwaakfY2r0s.twitter

23h23 hours ago

JUST IN: Arul Kanda consulting lawyers on potential legal action over “potentially defamatory and personal attacks” against him by Finance Minister .

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FM Lim says he’s found 1MDB’s Arul Kanda to be utterly dishonest and untrustworthy, to review his position as president. PwC appointed to conduct a special position audit and review of 1MDB so that Malaysians would know the true financial state .

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Finance minister’s verdict – Arul Kanda ‘utterly dishonest’

Published on  |  Modified on

 

In a scathing indictment, Finance Minister Lim Guan Eng accused the 1MDB president and chief executive officer Arul Kanda Kandasamy of being “utterly dishonest and untrustworthy.”

This was after Arul Kanda briefed Lim on the state of the firm, which the minister found unsatisfactory.

“I have found Arul Kanda to be utterly dishonest and untrustworthy.

“I have instructed the legal advisers of the Finance Ministry to review his position as 1MDB president,” Lim told a press conference in Putrajaya this evening.

According to the finance minister, Arul Kanda informed him that he was unsure about the value of 1MDB’s US$2.5 billion (RM9.8 billion) “fund units” investments, or if these even existed.

“Arul Kanda’s response was utterly shocking and preposterous because prior to the change of government, he toured the country preaching the financial viability of 1MDB and the soundness of its investments.

“In fact, Arul Kanda is today singing a completely different tune from the song he sang to the Public Accounts Committee as recorded in the Hansard,” he added.

Lim said the RM9.8 billion was significant as it would have helped settle 1MDB’s debt.

Yesterday, the finance minister revealed that the previous BN government spent around RM7 billion bailing out 1MDB despite the company’s insistence that it could repay its own debt.

The new Pakatan Harapan government has accused its predecessor of trying to cover up the multi-billion ringgit 1MDB scandal and has vowed to uncover the alleged wrongdoings.

https://www.malaysiakini.com/news/426474

1MDB confirms it is insolvent, and is therefore unable to repay debts due on May 30th. Its CEO, Arul Kanda Kandasamy said he’s on leave until his contract ends next month, and claims he’s unaware of the firm’s financial situation. – Finance Minister, Lim Guan Eng

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