LETTER FROM Phar Kim Beng, Kuala Lumpur
KUALA LUMPUR : Former 1Malaysia Development Berhad chief executive officer Arul Kanda Kandasamy was uncertain of the value of the company's"investments" or if they even existed, the High Court here was told.
Pua, 52, who was appointed as political secretary to then-finance minister Lim Guan Eng in 2018, said he could say this with certainty because he attended the meeting with 1MDB representatives to determine the financial status of the sovereign wealth fund."After GE14, the new minister had a meeting on May 22, 2018 with representatives of 1MDB to determine its financial status. I also attended this meeting.
Asked by Arul Kanda’s lawyer Sanjay Mohan if he had asked for the 1MDB board of directors to be investigated, Pua said:"I believe so."In May 2021, 1MDB filed a lawsuit against Mohd Irwan and Arul Kanda over an alleged breach of trust and conspiracy that resulted in US$1.83bil in losses related to the company's investment in 1MDB-Petrosaudi Ltd, which was later converted into the Brazen Sky Limited investment, said to be recoverable from the Bridge Global Fund.
Kuala Lumpur High Court 1MDB Lawsuit Arul Kanda Kandasamy Mohd Irwan Serigar Abdullah Tony Pua Witness Unaware Investments Value Breach Of Trust Conspiracy Misappropriation
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