KUALA LUMPUR – 1Malaysia Development Berhad (1MDB) Chief Executive Officer Arul Kanda Kandasamy has remained silent on whether he is one of the candidates being considered to take over the reins of Khazanah Nasional Berhad in 2019.
When contacted by Astro AWANI today, Arul Kanda declined to comment further on the matter.
On August 10, local news portal The Malaysian Insight reported that a panel had already been formed, with the task of identifying a replacement for Khazanah’s current chief Tan Sri Azman Mokhtar after his contract expires in 2019.
Azman has been Khazanah’s Managing Director since June 2004.
Arul Kanda was reportedly one of the candidates being considered, apart from CIMB Group CEO Tengku Datuk Seri Zafrul Aziz, as well as Khazanah directors Hisham Hamdan, Ahmad Zulqarnain Onn and Tengku Azmil Zahruddin Raja Abdul Aziz.
Khazanah has assets amounting to RM145.1 billion as at end of last year, and has interests in over 100 companies across multiple sectors and industries.
Arul Kanda has been spearheading 1MDB’s much-publicised rationalisation plan since taking over the sovereign wealth fund in January 2015.
Last Friday, 1MDB announced that it has paid US$350mil (RM1.5bil) of its debt to Abu Dhabi’s International Petroleum Investment Co (IPIC).
The balance of the payment will be due on Aug 31, it said.
1MDB said all funds paid to IPIC are from the proceeds of its rationalisation programme.