Arul Kanda Kandasamy said his removal as Bandar Malaysia Sdn Bhd chairperson and TRX City Sdn Bhd director was to be expected since both companies now have new owners.

He explained that his appointment to the board of both companies were due to 1MDB's former stake.

Arul Kanda, who is 1MDB president, explained that the two companies were transferred from 1MDB to Minister of Finance Inc (MOF Inc) with effect from March 31, 2017.

"It is only reasonable to expect that MOF Inc will seek to appoint new directors, per its discretion.

"As a professional manager, I serve as required by the shareholder. I will always be guided by and will accordingly accept any decisions made by the shareholder," said Arul Kanda...