1MDB sacks Arul Kanda, say sources

Arul Kanda Kandasamy wants 1MDB's success to be measured through the realisation of the construction of its two mega projects, namely the Tun Razak Exchange and Bandar Malaysia.

PETALING JAYA: Troubled state investment arm 1Malaysia Development Berhad (1MDB) has sacked its president and chief executive officer, Arul Kanda Kandasamy (pic), effective Thursday (June 28), according to a report by The Edge.

The termination letter, hand delivered to Arul Kanda on Thursday and sighted by the financial daily, had purportedly said that Arul was sacked on grounds of dereliction of duties.