LGE: Najib Approved Arul Kanda's Salary Package of RM5 Mil For Doing 6 Months Of Work
RM2.5 million of his salary was paid between January to June this year, said the Finance Minister on 31 July.
By Tamara Jayne — 01 Aug 2018, 12:52 PM
Former chief executive officer (CEO) of 1MDB Arul Kanda Kandasamy was given a salary package of RM5 million for six months of work this year, Finance Minister Lim Guan Eng revealed on Tuesday, 31 July
The salary amount was approved by ex-prime minister Datuk Seri Najib Razak and signed off by former treasury secretary-general Tan Sri Irwan Serigar, reported The Edge Markets.
Lim added that RM2.5 million of his salary was paid between January to June this year while the rest of the amount was meant to have been given after 30 June
"Luckily there was a change in government," Lim said during a Parliament session on Tuesday, 31 July.
"We will not pay the remaining amount," he concluded, according to The Star.
Arul Kanda was sacked in June on the grounds of dereliction of duties by 1MDB, a company wholly owned by the Ministry of Finance
Kanda was on garden leave that was meant to end on 30 June, but was sacked two days earlier.
His three-year contract, that was supposed to have come to its close last December, was extended for six months in January, reported The Star.
The 41-year-old law graduate took over as president and group executive director of 1MDB in 2015 in an effort to turn around the controversial project that had a whopping debt of RM45 billion at that time.
Kanda was fired when he "breached the contract and fiduciary duty" as head of the state investment firm, as stated in his letter of termination, reported New Straits Times.