KINIBIZ The third CEO in two years for 1MDB must mean that things are not all bright and rosy as its chairperson Lodin Wok Kamaruddin asserted in a long statement not long ago – in fact just before Christmas.

But barely two weeks later, Lodin himself announced the new CEO with Malaysian investment banker Arul Kanda designated as president and group executive director succeeding Mohd Hazem Abd Rahman who was managing director and CEO.

Not just that, 1MDB said that it will be undertaking "a strategic review to explore a course of action that will allow the company to maximise returns for all shareholders".

"It is time for the company to silence its critics and deliver against its stated objectives, and we intend to examine a full range of strategic and financial alternatives to achieve the greatest value, the outcome of which will be announced in due course.”

Strange words those. Is that final admission that 1MDB has not been delivering against stated objectives and is not achieving greatest value for its shareholders? Is Kanda’s appointment set to change all that? Can it?

For the full story please go to KiniBiz .

This story was written by P Gunasegaram.

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