Najib: Arul Kanda took big pay cut to accept RM5mil 1MDB pay package

KUALA LUMPUR: Arul Kanda Kandasamy took a “big paycut” when he joined the 1Malaysia Development Bhd (1MDB) as chief executive officer, said Datuk Seri Najib Tun Razak.

The former premier said a lawyer or someone close to Arul Kanda would issue a statement on matters related to his pay package.

“He was earning so much more when he was working in a bank in the United Arab Emirates, so he took a big pay cut to join 1MDB.

“He was also successful in reducing the debt from RM50bil to RM30bil so he has accomplished that part of his responsibility,” he told reporters at the Parliament lobby on Wednesday.

Yesterday, Finance Minister Lim Guan Eng revealed that Arul Kanda enjoyed a RM5mil salary package, signed by then Treasury secretary-general Tan Sri Irwan Serigar Abdullah and approved by Najib.

Asked if he made regular visits to China to meet businessman Jho Low, Najib responded with a simple “No”.