‘Arul Kanda paid less in 1MDB’
KUALA LUMPUR: Former Prime Minister Datuk Seri Najib Razak claimed that former 1Malaysia Development Bhd (1MDB) president and chief executive officer Arul Kanda Kandasamy took a pay cut to join the company and had reduced its debts.
“He (Arul) was earning much more when he was working at a bank in the United Arab Emirates. He took a big pay cut to join 1MDB,” Najib said here yesterday.
It was earlier reported that Arul Kanda was offered a pay package of RM5 million for a six-month period between January and June this year by the previous government.
Finance Minister Lim Guan Eng said this salary package was approved by Najib, who was then prime minister.
“RM2.5 million has already been paid to Arul Kanda as an advance, and the remaining RM2.5 million was to be paid after June 30. Luckily there was a change in government,” Lim had said.
Najib, in defending Arul Kanda’s salary package, said the latter had reduced 1MDB’s debts “from RM50 billion to RM30 billion. He has accomplished part of his responsibility”.
Najib said Arul Kanda’s lawyer or a sso ciate wa s scheduled to issue a statement yesterday.
On allegations by a report in the Wall Street Journal that Najib had frequently flown to China to meet businessman Low Taek Jho, Najib said: “No.”