YOURSAY | ‘Why didn't Arul lodge a police report on the fake Aabar?’

Show proof, 1MDB boss dares 'cherry picking' Pua

Negarawan: 1MDB chief Arul Kanda Kandasamy, when you receive a huge sum of money into your personal bank accounts indirectly from the companies you are accusing of fraud, it is not a fraud but a conspiracy. You are not a victim, but an accomplice.

By the way, the facts behind Aabar Investments PJS and Aabar Investments PJS Limited (Aabar BVI) were already reported by Sarawak Report quite some time ago, and are now corroborated by the Swiss Office of the Attorney-General (OAG). You are only now admitting that Sarawak Report is correct.

Aries46: MP Tony Pua is spot on in questioning Arul Kanda's culpability in the alleged complicity/concealment of the liquidation of the fake Aabar BVI partner.

As the CEO and MD at 1MDB, his claim of ignorance of this allegedly well-planned and executed fraud is untenable.

This top dog that has incessantly defended 1MDB shenanigans despite its global avalanche of corruption exposes and the temerity to even berate its ardent critic Pua, now claims shamelessly he was unaware that his business partners at Aabar had carted away 1MDB funds amounting to a massive US$3.51 billion of taxpayers’ monies from right under his nose which he has the insolence to call cherry picking.

Yes, indeed, you can't be 80 percent pregnant but when you are caught with your pants down you are 100 percent complicit.

Caripasal: Arul, as the CEO, is responsible for press statements by 1MDB. Did 1MDB not issue a statement denying funding a movie company?

Why didn't Arul lodge a police report on the fake Aabar? Instead, he repeatedly denied any wrongdoing involving the fund transfer.

Why did Arul continue to say PM Najib Razak is not involved in the scandal when he knows very well that Najib is the authorised signatory for 1MDB?

Anonymous 2413291460568020: Last week, 1MDB issued an announcement stating that it could be a victim of fraud .

I find it extremely curious that 1MDB realised this only in April 2016 when Abu Dhabi state-owned International Petroleum Investment Company's financial statements for 2013 and 2014, which were publicly available, show that it did not receive the money.

Arul will be caught by his own lies very soon. Let’s give him more time.

Anonymous 759201436321741: I thought Arul was smart. That's why he was appointed CEO.

He called Pua a one-trick pony. But sadly, he couldn't even stop this one-trick pony from throwing deep and probing questions when he, as CEO of 1MDB, should be in full command of the situation.

If he worked for a top US corporation, he would have been shown the highway long ago.

Mushiro: Who is actually cherry picking? Arul should have responded to Pua's accusation that Arul deliberately did not furnish the 1MDB's foreign bank statements as persistently requested by the Auditor-General’s Department (JAN).

Arul's excuse that the request from JAN was not clear was a joke as 1MDB did furnish local bank statements. As for Arul's claimed ignorance that Aabar BVI was liquidated in 2015 - it is a hard story to swallow.

Arul's pleas to allow the authorities to investigate as the Public Accounts Committee (PAC) report had been submitted to Parliament is a shame.

No Malaysian trust any of the authorities to do an honest job - not the police, not the Malaysian Anti-Corruption Commission (MACC), not even the PAC.

Anonymous_660: “Whilst 1MDB purchased the power assets at approximately RM12 billion and sold it at RM9.83 billion, it also received approximately RM2 billion in cash dividends during the period of ownership, which totals RM11.83 billion i.e. a cash-on-cash, near ‘break-even’ position," said Arul.

Again, you conveniently forgot to mention that over that period 1MDB incurred more than US$1 billion in interest, finance cost and professional fees - isn't that cheery picking on your side?

FairMind: Indeed, how could one take in RM2 billion in dividends without taking in expenses incurred in the debt rationalisation and interest cost that made the dividend income possible?

In such case, the loss will be humongous. How could a CEO even gloat when assets are acquired by 1MDB at a ridiculous undervalued price and still sold at a loss?

Speaking Sense: So if I buy a house and collect rental and then sell it at a loss, that is good business? What about the interest paid on the RM12 billion. Has Arul conveniently forgotten this?

How could Arul assure us everything was okay in 1MDB when he did not even know what happened to IPIC-Aabar. This is either incompetence or a lie.

Gerard Lourdesamy: Frankly, everybody is getting sick and tired of Arul's questionable explanations and limited or restrictive disclosure of information both to the auditor-general, the PAC and Bank Negara that certainly does not excuse him or the board of 1MDB, including the PM as adviser, of their sheer incompetence.

This is increasingly becoming a pathetic cover-up in the face of overwhelming evidence from foreign regulatory authorities. Only in Malaysia influential and well-connected people are above the law and can continue to lie to and cheat the rakyat with impunity.

Anonymous_4031c: Arul, you have to excuse Pua. He is getting rather impatient waiting for the authorities to swing into action.

Let's wait for the money trail to be disclosed from the investigations by the authorities of several countries and the truth will be ascertained.

From that, a more definite conclusion can be drawn as to who misled whom knowingly and without basis. Right now, you can keep smiling at Pua.

Ipohcrite: Instead of focusing on strategic investments, 1MDB has reinvented itself and is now banking on the business of strategic idioms to reap political dividends.

Arul has truly transformed 1MDB into an organisation worthy of international ridicule.

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