“In recent weeks, there has been much speculation about the use of RM 42 billion of debt raised by 1MDB, and more specifically that RM 27 billion of debt proceeds are alleged to be “lost” or “missing”. We provide a summary of what the RM42 billion debt has been used for, information that is fully disclosed in 1MDB’s audited and publicly available accounts from 31 March 2010 to 31 March 2014. We trust this clarification will help to clear any confusion on this matter.”
– Arul Kanda, President and Group Executive Director
About ARUL KANDA
President and Group Executive Director
He has extensive expertise in structured finance, corporate finance and restructuring across multiple markets including in Malaysia, the UK and the Middle East.
He joins 1MDB from Abu Dhabi Commercial Bank (ADCB), where he was Executive Vice-President and Head of Investment Banking, having previously worked in leadership positions at Barclays Capital and Credit Agricole.
He also served on the Board of RHB Investment Bank Berhad. Arul is a Board Member of Global Investment House (Kuwait) and Board Member/Investment Committee Member of the ADCB Macquarie Infrastructure Fund.
Arul is a UK-qualified Barrister, with an LLB from the London School of Economics and an LLM from University College London.