No more Shades of Grey – the Facts must Prevail

Personal Statement from Arul Kanda

In his article  “Arul Kanda and the lies of 1MDB”, published in Malaysiakini on 4 May 2018, Mr. Gunasegaram said that I should have continued with my lucrative career as an investment banker overseas.  But in fact, as a patriotic Malaysian, it is my duty and responsibility, to take on a job that no one wanted, and to fix the problems in 1MDB.

It is clear from his writing that Mr. Gunasegaram has not even bothered to attend the over 30 public information sessions that I have held around the country. Had he done so, I am sure he would sing a different tune and not shoot from the hip.

Since I took over, the past 36 months have been sheer hard work, to repair and restore the company to a stable footing. Remember, the problems had built up over 5 years and there were humongous issues to resolve.

For him to question my hard work in such malicious terms is not only hurtful, but beyond the pale, with him making personal attacks, unsubstantiated allegations, false accusations and wrong assertions.

I have had to make personal sacrifices but it has been worth it – the company is now stable, debts have been reduced from RM50 billion to RM 31 billion, and all Malaysians can see the success of the TRX project, with international investors such as HSBC and Prudential rushing to set up their headquarters. As a patriotic and responsible Malaysian, I am proud of this.

Of course, as a public figure, I am always open to constructive criticism. I also appreciate there is always room for improvement. However, there is no need to make personal attacks and potentially defamatory statements to get your point across.

A cursory reading of his article will show that Mr. Gunasegaram operates in shades of grey, but to me, the facts are the facts, and he cannot run away from that.

As a professional, all that I have is my track record and credibility. I really don’t want to go down this path, but I must admit that my lawyers are looking into his article. I will await their legal advice on how best to clear my name and to let the facts stand on its own

Please note, in the event there is further action on this matter, it will be in my personal capacity and does not involve 1MDB or the Government of Malaysia.