Oppositions had ran out of capital – Arul Kanda

The oppositions in this country are seen to have run out of ‘capital’ when they deliberately recycle the ownership issue of Good Star Limited to gain cheap publicity.

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President and Chief Executive Officer of 1Malaysia Development Bhd (1MDB) Arul Kanda Kandasamy today alleged that a news portal, (Malaysiakini) was unethical when it reported fake news about him in connection with 1MDB.
President and Chief Executive Officer of 1Malaysia Development Bhd (1MDB) Arul Kanda Kandasamy today alleged that a news portal, (Malaysiakini) was unethical when it reported fake news about him in connection with 1MDB.FILE PIX: MalaysiaGazette

KUALA LUMPUR – The oppositions in this country are seen to have run out of ‘capital’ when they deliberately recycle the ownership issue of Good Star Limited to gain cheap publicity.

The President of 1MDB, Arul Kanda Kandasamy said, the issue is not something new as it was raised by Tony Pua, the Member of Parliament from North Petaling Jaya on April 2016 and it had been answered.

Elaborating further, Arul said, 1MDB had submitted all related documents during the Public Accounts Committee (PAC) investigation to the National Audit Department.

As a buyer of the shares sold by PetroSaudi, 1MDB had made payments as directed by the seller, PetroSaudi and 1MDB had also received the shares in the joint-venture company after making the payment.

“1MDB was directed by the company who sold the share, PetroSaudi, to pay US$700 million to Good Star Limited by their appointed professional, reputable and renowned legal firm, White & Case (London).

“Upon receiving the payment, PetroSaudi had issued a written confirmation to 1MDB on its payment to Good Star, which belonged to PetroSaudi,” he said in an interview with www.therakyat.com.

Recently, Tony questioned if the police investigated the money transferred to Good Star Limited, which he allegedly claimed belonged to Jho Low.

He also claimed that the transactions were confirmed by 1MDB.

Thus, Tony questioned if the police took statements from the Bank Negara which to him, had confirmed the ownership of the company by the controversial billionaire.

In a recent development, Arul said, there are more important issues than the ownership of Good Star raised by Tony.

He said, after paying US$1.83 billion to PetroSaudi between 2009 and 2011, 1MDB received back the funds in units worth US$2.3 billion.

Arul said, under the company’s record, 1MDB had reimbursed US$1.4 billion in cash out of the US$ 2.3 billion worth of units in 2014.

“Thus, the issue on Good Star’s ownership allegations are irrelevant as all investments and loans between 1MDB and PetroSaudi had been paid in full,” he said. –MalaysiaGazette

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