In the High Court today, former 1MDB CEO Arul Kanda Kandasamy admitted he took no action to counter negative reports by local and international media regarding the company’s financial controversies.

He was responding during cross-examination by 1MDB’s counsel, Lim Chee Wee, regarding the alleged transfer of USD700 million to Good Star Limited, a company owned by fugitive businessperson Low Taek Jho (Jho Low)...