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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, People

1MDB CEO: We are the ‘most investigated company’

Posted on 02 October 2015

Arul Kanda, the head of the Malaysian state investment fund 1MDB has an impressive track record of restructuring ailing companies and making a profit from them. A former banker, he’s worked in the UK and in the Middle East, and has had a string of successes.
So it did seem surprising to me that he would be willing to stake his reputation on turning around the scandal hit fund 1MDB, after it amassed more than $11bn (£7bn) worth of debts. And what a way to hit the ground running. Within the first six months of him taking on the job, 1MDB was hit by allegations that $700m from companies linked to 1MDB were transferred to Prime Minister Najib Razak’s personal bank account………………………………………..Full Article: Source


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