1MDB boss staying on for another year to tie up loose ends

After Mr Arul Kanda took over as 1MDB chief in 2015, he soon found himself in the middle of Malaysia’s biggest political maelstrom. But yet, he has accepted the government’s request to extend his employment for another year.
Mr Arul Kanda was brought in to fix 1MDB's crippling debt in 2015, but was soon caught up in Malaysia's biggest political maelstrom. On his extension, he says: "There were a number of things which I needed to hand over."
Mr Arul Kanda was brought in to fix 1MDB's crippling debt in 2015, but was soon caught up in Malaysia's biggest political maelstrom. On his extension, he says: "There were a number of things which I needed to hand over."ST FILE PHOTO

CEO of troubled state fund agrees to extend employment beyond initial 3-year contract

Mr Arul Kanda got more than he bargained for when he signed up to be president and chief executive of 1Malaysia Development Berhad (1MDB) in 2015.

Brought in for his corporate restructuring expertise to fix the state fund's crippling debt totalling RM42 billion (S$14.2 billion), the former chief investment banker at Abu Dhabi Commercial Bank soon found himself in the middle of Malaysia's biggest political maelstrom.

TO READ THE FULL ARTICLE

Thank you for reading The Straits Times

You have reached one of our Premium stories. To continue reading, get access now or log in if you are a subscriber.

What is Premium?

A version of this article appeared in the print edition of The Straits Times on April 26, 2018, with the headline '1MDB boss staying on for another year to tie up loose ends'. Print Edition | Subscribe