News Coverage

Date: 
25-03-2016
Arul Kanda: Dr M's suit against Najib not directed at 1MDB
Arul Kanda: Dr M's suit against Najib not directed at 1MDB
Source: 
MalaysiaKini

PETALING JAYA, Mar 25 – Dr Mahathir Mohamad's lawsuit against Prime Minister Najib Abdul Razak was not directed at 1MDB, said the state fund president Arul Kanda Kandasamy.

"I am not familiar with the lawsuit (but) I don't think it is directed at 1MDB in any way," he said in an interview with business radio station BFM today.

Arul Kanda said this when he was asked whether the lawsuit would reflect negatively on 1MDB's management.

Former premier Mahathir and two others had filed a legal suit against Najib for breach of fiduciary duty and misfeasance in public office.

The other plaintiffs are former Langkawi Wanita Umno member Anina Saadudin, and former Batu Kawan Umno division vice-chairperson Khairuddin Abu Hassan.

In their statement of claim, they said Najib had acted in bad faith to undermine, or cause to compromise various respective institutions involved in the probe of 1MDB scandals related to the remittance of RM2.6 billion and RM42 million or any other amount into the PM's personal bank accounts.

They are seeking RM2.6 billion in exemplary damages and aggravated damages of RM42 million.

Arul Kanda also expressed his disappointment with Mahathir for repeatedly making baseless accusations against the state-owned firm.

"Mahathir had said RM42 billion disappeared from 1MDB, he then changed to say RM26 billion or RM27 billion lost, and later few billions lost, so on and so forth.

"He has not once been able to substantiate these various statements he had made. We find that deeply disappointing for such wrong allegations about the company," he added.

According to Arul Kanda, Najib who chairs 1MDB's advisory board is not involved in the day-to-day business in the company and would not come just to ensure things are in order.

"Our communications are through the Finance Ministry, as the shareholder. There is a committee in the ministry set up last year, primarily to assist 1MDB's rationalisation plan.

"We meet with this committee every two weeks ... the prime minister does not sit in the committee," he said when asked whether they communicate frequently with Najib.