Arul Kanda not aware of reported removal from TRX City, Bandar Malaysia boards

 |May 9, 2017

The president of 1Malaysia Development Berhad (1MDB) Arul Kanda Kandasamy said he has not received any official notification on being removed from the boards of TRX City and Bandar Malaysia Sdn Bhd.

He said this in a statement, shared by Channel News Asia on Twitter, in responding to rumours that he had been removed.

As such, he said he was not able to comment further on the matter.

Arul Kanda informed that his appointment as board member for TRX City and Bandar Malaysia were based on 1MDB being the shareholder of both firms.

“As those companies have been transferred by 1MDB to MOF (Ministry of Finance) Inc with effect from March 31, 2017, it is only reasonable to expect that MOF Inc will seek to appoint new directors, per its discretion.

“As a professional manager, I serve as required by the shareholder. I will always be guided by and will accordingly accept any decisions made by the shareholder,” he said.

It was earlier reported that Arul Kanda had been removed from the board of both firms.

Newsportal The Malaysian Insight in quoting an unnamed source reported that the decision to remove Arul Kanda was made by Prime Minister Najib Razak and Treasury Secretary-General Irwan Siregar Abdullah in their capacity as the board of directors of 1MDB.