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Tuesday, March 20, 2018

THE JOKER IN ARUL KANDA: 1MDB WORLD FAMOUS FOR NAJIB & JHO LOW’S ‘GIGANTIC THIEVERY’, YET ARUL WANTS VOTERS TO REMEMBER 1MDB FOR ITS ‘SUCCESSES’

1MALAYSIA Development Bhd (1MDB) chief executive officer Arul Kanda Kandasamy wants the company‘s success to be measured by the completion of its two mega projects, namely the Tun Razak Exchange (TRX) and Bandar Malaysia.
“This will put to an end to the various allegations continuously hurled by the opposition at the company,” he said at the “Diskusi 1Minda 1Bicara 1MDB” programme in Johor Baru last night.
Arul said the community could see and evaluate the development around TRX firsthand, together with the attention it was receiving from local and foreign investors.
“This is what I want to portray. 1MDB is not bankrupt, and is still capable of of repaying its debts while developing its available assets. That is an undeniable fact.
“We have been able to attract investors such as HSBC Bank Malaysia Bhd – which is building the biggest headquarters in Southeast Asia – Prudential, Affin Bank Bhd, and Lembaga Tabung Haji,” he said.
According to Arul, 1MDB was also spending RM3 billion for the construction of infrastructure around TRX, such as a new market and a road to directly connect it to key highways like the SMART Tunnel and the MEX and DUKE Highways.
“1MDB currently has assets of RM43 billion, which exceeds current debts of RM31 billion.The majority of the assets represents real estate, more than is needed to repay the company’s debts,” he said.
Arul said the opposition had also sought to paint Prime Minister Najib Razak, the chairman of the 1MDB board of advisors, as being responsible for everything that had taken place in the company, when in reality the position had no power under the Companies Act.
– Bernama

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