LAST_UPDATETue, 19 Jun 2018 10pm

'Why Didn't You Show Up Hannah Yeoh?' Arul Kanda Asks After 1MDB Talk In Subang Jaya

Arul Kanda Kandasamy.Arul Kanda Kandasamy.

SUBANG JAYA – 1Malaysia Development Bhd (1MDB) CEO Arul Kanda Kandasamy expressed his disappointment over the failure of any opposition representative to attend a 1MDB talk yesterday, even when it was hosted in their turf.

Arul said the talk was hosted in Subang Jaya to correct any misconception towards 1MDB and there was no political motive intended behind the event.

“I am puzzled over the absence of any representative from the opposition that fiercely criticised 1MDB such as Hannah Yeoh (Subang Jaya state assemblyman). Why didn’t you show up to the forum which was organised in your turf?," he asked.

 “It is clear that they are not open in finding the truth about 1MDB. These talks are organised by non-governmental organisations (NGO), not political parties.

“I am not a politician. I am responsible as a chief executive of a government-owned company to inform the people about it,” he told The Rakyat after giving a talk on 1MDB organised by Kelab Sahabat N87 in USJ15 yesterday.

He admitted that he was frustrated when some opposition leaders accused him for 1MDB’s troubles, however said he understands why people may be angry over what has happened with the company.

Today, a similar talk will be held in Ampangan, Negeri Sembilan and followed by another session in Section 16, Shah Alam on April 28.

Commenting on the audiences’ response to his talk, Arul said he felt relieved that people are willing to accept the explanation regarding 1MDB with an open heart.

And as for 1MDB’s future, he says the company has unfortunately been put at the crosshairs of certain political parties for their own gain.

The company also suffered from business problems that have been politicised, but fortunately they were solved through the company’s rationalisation plan.

According to a recent report by Bernama, 1MDB embarked on a rationalisation plan in 2016 to monetise company’s assets over time and meet its debt obligations.

The company has sold assets and transferred ownership of assets to the Ministry of Finance, so it can be independently developed from 1MDB.

“Right now, we can see that the TRX building (Tun Razak Exchange) is going up, with investment from HSBC, Prudential and others, proving that 1MDB-related projects have gained confidence from the international investors,” while adding if the projects are running well, the gain will be more than enough to pay back all the long-term company debt.

As1MDB CEO, Arul views it a national duty to restructure the company and says he is not too pressured in handling matters pertaining the company as he is free from any wrongdoing.

-- mD