Malaysiakini News

1MDB did not pay Najib a single sen, says Arul Kanda

Published:  |  Modified:

1MDB CEO Arul Kanda Kandasamy said the state investment fund did not pay a single sen into Prime Minister Najib Abdul Razak’s personal bank accounts.

“I can confirm that 1MDB, according to company records and the Public Accounts Committee investigation, had never paid a single sen into the prime minister’s personal account,” he was quoted as saying by Utusan Malaysia.

Arul also defended Najib’s role as an adviser in the state fund.

He stressed that Najib did not have any executive power, but the opposition was using the prime minister’s position in 1MDB to attack him.

“His (Najib’s) only power is to advise. And because he is on the board, the opposition said he is responsible,” Arul was quoted as saying by The Star Online.

Najib sat on the 1MDB advisory board, which has since been dissolved.

The opposition has claimed the the position of Najib (photo) extended beyond an advisory capacity, based on 1MDB’s memorandum and articles of association.

According to the documents, the prime minister’s written approval was required for any financial commitments, including investments, restructuring or any matters concerning federal government policy, national interest and national security.

Arul, speaking during an Ipoh function, claimed the opposition was harping on the 1MDB matter has it had ran out of issues.

“The government has improved the economy and created job opportunities. They cannot oppose government policies so they have nothing else.

“The 1MDB issue is old, but irresponsible people continue to play it up,” he was quoted as saying.

He also urged people not to speculate on the US Department of Justice’s civil forfeiture suits on 1MDB.

“There have been no proceedings, defence or decisions yet. They have also recently requested the courts to postpone the case for another six months,” he was quoted as saying.


Read more: Justo breaks silence, files complaint against PetroSaudi ‘coercion’


The US DOJ believe that US$4.5 billion was misappropriated from 1MDB and laundered through international financial systems, including the US, to acquire various assets.

It is looking to seize around US$1.7 billion in assets allegedly acquired using the stolen money.

1MDB has denied that any of its funds were misappropriated.

Najib confirmed Wall Street Journal’s report in 2015 that he received RM2.6 billion in his personal bank account, but disputed the publication’s claim that it originated from 1MDB.

Najib claimed the money was a “donation” from a member of the Saudi royal family.

Attorney-general Mohamed Apandi Ali had cleared Najib of wrongdoing and said the money had been returned to the “donor.”

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