No official notification on board removal, says Arul Kanda
KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy says he has not received any official notification on his removal from the board of directors of Bandar Malaysia Sdn Bhd and Tun Razak Exchange (TRX).
He said as those companies have been transferred by 1MDB to Minister of Finance
Inc (MoF) since March
31 this year, it is only reasonable to expect that MoF will seek to appoint new directors, per its discretion.
“It is public information that my appointment as a board member of TRX City and Bandar Malaysia was due to 1MDB being the shareholder of both firms.
“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 told NST Business last night.
An online news portal, citing sources, claimed that Arul had been removed due to “potential conflicts of interest” following the fallout Bandar Malaysia deal with the consortium of Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corp.
Arul Kanda says he will accept any decisions made by the shareholder