Arul says insinuations of links to Jho Low is ‘unfair’
New 1MDB CEO denies links to Malaysian tycoon Jho Low, who is said to have alleged ties with an Abu Dhabi-based firm that helped set-up 1MBD.
(Free Malaysia Today) – The intrigue surrounding 1Malaysia Development Berhad (1MDB) has reached new heights, what with fresh suspicions that their new CEO, Arul Kanda Kandasamy, 38, had alleged links with Penang-born tycoon Jho Low during his tenure as an investment banker in Abu Dhabi.
What makes the alleged link intriguing is that Low is believed to have links himself with 1MDB, through his company Jynwel Capital Ltd that did business with Muabadala Development Corp, an Abu Dhabi-based firm, involved in the setting up of the Terengganu Investment Authority (TIA), later rebranded as 1MDB.
The links, revealed in a report in Focus Malaysia, a business weekly, has prompted allegations that Low had influence over the business decisions of 1MDB, including its dubious RM8 billion investment in the Cayman Islands that has come under intense fire from opposition politicians and former premier Mahathir Mohamad.
In commenting about his alleged links to Low, Arul told the Malay Mail Online in an email interview that the assumptions were completely baseless.
“No.The insinuation appears to be that simply because I have worked in Abu Dhabi, I am connected to certain individuals. I believe that is unfair.”
