Former CEO Arul Kanda says he met Jho Low in Abu Dhabi four years prior to joining 1MDB Posted on January 16, 2025 By serv KUALA LUMPUR, Jan 15 — Former chief executive officer of 1Malaysia Development Berhad (1MDB) Arul Kanda Kandasamy told the High Court here today that he met fugitive businessman Low Taek Jho, or Jho Low in Abu Dhabi, four years prior to his appointment. The first defendant was responding to a question from 1MDB’s counsel Datuk Lim Chee Wee during the hearing of the US$6.59 billion lawsuit against him and former chairman of the board Tan Sri Mohd Irwan Serigar Abdullah. Lim: During the time you were in the Middle East…You were in, Abu Dhabi, and you would have met many prominent business people and investors…and you met Jho Low while in Abu Dhabi? Arul Kanda: Yes, it was in 2011. When asked if Jho Low had made any proposals, Arul Kanda said there was one in particular that involved an investment on Al Maryah Island, a financial district in Abu Dhabi. “So, it had to do with the property there, or something like that,” he said. Arul Kanda said apart from Jho Low, he also met Khadem Al Qubaisi and Mohammed Badawy al Husseiny, in Abu Dhabi, who were subsequently linked to the 1MDB scandal. Explaining his appointment to 1MDB, Arul Kanda said he was approached by 1MDB’s then-former director Ashvin Jethanand Valiram during the latter’s visits to Dubai. “We met at a training course in Malaysia. His wife lives in Dubai. So, whenever he visited the family or was on business trips we would catch up. Ashvin informed me of his concerns that 1MDB had a large debt which was gearing to distress the projects that were stalled. “Then I emailed my resume to Ashvin. I was interviewed by the then chairman of 1MDB, Tan Sri Lodin Wok Kamaruddin, and former director of 1MDB Tan Sri Ismee Ismail. I also had a phone interview with the then-CEO of 1MDB, Datuk Shahrol Azral Ibrahim Halmi. “The trio asked about me, as I recall. The interviews were more focused on what I had done and my background. They didn’t explain in detail about the large debt that 1MDB is facing,” said Arul Kanda. Arul Kanda, who received an offer letter on December 18, 2014, said he had conducted due diligence on 1MDB before joining the company and observed that there were negative media articles about it. In May 2021, 1MDB filed a lawsuit against the two individuals, accusing them of breach of trust and conspiracy, which led to losses of US$1.83 billion, linked to the company’s investment in 1MDB-Petrosaudi Ltd, which was subsequently converted into the Brazen Sky Limited investment, purportedly recoverable from the Bridge Global Fund. 1MDB also alleged that both defendants committed breach of trust and conspiracy by misappropriating US$3.5 billion in company funds paid to Aabar Investments and US$1.265 billion paid to International Petroleum Investment Company on May 9, 2017. 1MDB further alleged that Mohd Irwan conspired with Arul Kanda to extend his employment agreement, resulting in a payment of RM2,905,200 to Arul Kanda, all while disregarding the company’s interests, which ultimately led to financial losses and damages. Consequently, 1MDB is seeking US$6.59 billion in damages from both defendants and an additional RM2.9 million from Mohd Irwan related to the extension of the employment agreement. The hearing before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan resumes tomorrow. — Bernama News
Police bust up 40 groups running online scams from Malaysia, collar 426 suspects Posted on December 18, 2024 KUALA LUMPUR, Dec 17 — The police have successfully busted 40 online scam syndicates in a 12-day special operation from Nov 25 to Dec 6, with 63 raids conducted on criminal call centres across the country. Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said… Read More
Police to submit ‘ham’ joke investigation to AGC after comedian and suspect questioned Posted on January 28, 2025 KUALA LUMPUR, Jan 27 — Police will submit the investigation papers regarding the ‘ham’ joke, which is alleged to insult Islam, to the Attorney General’s Chambers (AGC) tomorrow. The Inspector-General of Police (IGP), Tan Sri Razarudin Husain, said that the police had recorded the statement from another suspect, a 64-year-old… Read More
Family of seven living in car receives zakat, says Penang deputy chief minister I Posted on December 24, 2024 GEORGE TOWN, Dec 23 — A family of seven forced to live in their car after reportedly being deceived by their landlord here has been receiving financial assistance from Zakat Pulau Pinang (ZPP). Penang Deputy Chief Minister I, Datuk Mohamad Abdul Hamid, said records show the family receives assistance from… Read More