Thursday, 21 May 2015

1MDB: Tony Pua calls for sacking of Arul Kanda

Arul Kanda (pic) should be sacked following allegedly lying about the non-existent US$1.1 billion in Singapore, says DAP's Tony Pua. - File Photo

KUALA LUMPUR: DAP national publicity secretary Tony Pua is calling for the sacking of 1Malaysia Development Berhad (1MDB) president and group executive director Arul Kanda Kandasamy following allegedly lying about the non-existent US$1.1 billion (RM3.97 billion) in Singapore.

In a statement, Pua said Prime Minister Datuk Seri Najib Tun Razak and the 1MDB board of directors must immediately relieve Arul Kanda of his duties as he could affect the ongoing probe of 1MDB.

"The failure to sack Arul Kanda immediately will further taint the prime minister and the board of director’s culpability for the monstrous sins of 1MDB," Pua said.

He cited Arul Kanda’s statement on January 13 that the company “had now redeemed in full the US$2.318 billion invested by the company in a Cayman Islands registered fund."

He said by redeemed it meant that 1MDB had sold its investments in Cayman Islands for US$2.318 billion and the money was received by 1MDB.

"Arul Kanda subsequently confirmed the above presumption in an interview with the Singapore Business Times published on February 7. 

"He announced that while the funds amounting to US$1.103 billion would not be repatriated back to Malaysia, it would be kept in US dollars 'as we have US$6.5 billion in bonds out there, in which interest payments come up to nearly US$400 million a year'."

"The 1MDB president specifically stated, 'the cash is in our accounts and in US dollars. I can assure you (about that)... I have seen the statements'," Pua said.

Pua also added that Najib has confirmed in writing on March 10 that the US$1.103 billion held in cash was parked with BSI Bank in Singapore.

But Najib - who is also Finance Minister - said in a subsequent reply to him two days ago that 1MDB now claimed the amount was only in the form of “assets”.

- Source: Astro Awani 

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