![\"tony-pua-1mbd_400_1\"](\"http:\/\/www.therocket.com.my\/en\/wp-content\/uploads\/2015\/01\/tony-pua-1mbd_400_1.jpg\")
<\/a>Arul Kanda is a “liar extraordinaire”, said Pua.<\/p><\/div>\n
DAP Petaling Jaya Utara MP Tony Pua in a statement said, 1MDB chief Arul Kanda Kandasamy\u2019s rebuttal of Mahathir\u2019s criticism of the debt-ridden state investment fund do not address many key questions asked previously.<\/span><\/p>\n \u201c1MBD yesterday issued a lengthy statement to deny many assertions made by Mahathir against the company.\u00a0 <\/span>I agree that strictly speaking, some of the figures which were cited in the former Prime Minister\u2019s critiques were inaccurate.\u00a0 <\/span>However, the gist of the arguments was definitely sound,\u201d Pua said.<\/span><\/p>\n He added that one particular response from Arul proved that he is a \u201cliar extraordinaire\u201d.<\/span><\/p>\n \u201cThe statement said: \u201cdespite Tun Mahathir\u2019s vigorous claims, it is a fact that Arul Kanda never said he \u201csaw the cash\u201d. He is on the record as saying he had \u201cseen the statements\u201d, referring to the fund unit ownership and redemptions.\u201d,\u201d Pua said.<\/span><\/p>\n The statement was referring to the balance of US$1.103 billion of investments located in the Cayman Islands, which were redeemed in January and parked in BSI Bank Singapore.\u00a0 <\/span>The controversy was whether this amount was \u201ccash\u201d or in \u201cassets\u201d.<\/span><\/p>\n \u201cThis is an outright lie, to cover up another lie,\u201d said Pua.<\/span><\/p>\n \u201cIn an interview with the Singapore Business Times published on 7 February 2015, Arul Kanda clearly stated that while the funds amounting to US$1.103 billion would not be repatriated back to Malaysia, it would be kept in US dollars \u201cas we have US$6.5 billion (RM23.06 billion) in bonds out there, in which interest payments come up to nearly US$400 million (RM1.4 billion) a year.\u201d,” he added.<\/span><\/p>\n \u201cThe 1MDB President also specifically said, \u201cthe cash is in our accounts and in US dollars. I can assure you (about that)… I have seen the statements.\u201d<\/span><\/p>\n \u201cIt is therefore disingenuous for 1MDB to just quote Arul Kanda having \u201cseen the statements\u201d without also quoting the sentence, \u201cthe cash is in our accounts and in US dollars.\u201d,\u201d Pua said.<\/span><\/p>\n However, that is not all, added Pua.<\/span><\/p>\n A \u2018misunderstanding\u2019 on the information provided by 1MDB to the Finance Ministry on whether the money was in cash or \u2018units\u2019 \u2014 something which led to a Parliamentary answer to be amended.<\/span><\/p>\n \u201cAs the President of the company, Arul Kanda takes full responsibility for this misunderstanding and will ensure better communication with all stakeholders, but this conceded \u201cmisunderstanding\u201d is however, completely unbelievable.\u00a0<\/span><\/p>\n \u201cFirstly, is Arul so incompetent as make a mistake between US$1.1 billion of cash as opposed to assets or \u201cunits\u201d of indeterminate value?<\/span><\/p>\n \u201cSecondly, if there was indeed \u201cmisunderstanding\u201d in the response provided to the MoF, why did Arul not immediately correct the massive mistake on the 10 March when the \u201ccash\u201d answer was provided and widely published?<\/span><\/p>\n \u201cInstead, Arul waited until more than two months later on the 19 May after I had posted the question again in Parliament, before issuing the correction.\u00a0 <\/span>If I didn\u2019t ask the question, the truth would never have surfaced.\u00a0 <\/span>Such a massive delay in clarifying the mistake is the height of irresponsibility by the 1MDB President,\u201d Pua said.<\/span><\/p>\n Pua added that Arul Kanda had tried to mislead Malaysians that 1MDB has regained all its money, and even \u201cmade up\u201d a profit of US$488 million.<\/span><\/p>\n \u201cHe even cooked up the excuse that the money needs to be kept in US dollars because it is needed to service the interest of 1MDB\u2019s US dollar bonds.\u00a0 <\/span>The above proved that Arul Kanda is an unscrupulous liar and a man without any honesty and integrity,\u201d he said.<\/span><\/p>\n – The Rocket<\/p>\n","protected":false},"excerpt":{"rendered":" An opposition lawmaker today delivered a scathing rebuke\u00a0of the responses by 1Malaysia Development Bhd (1MDB) to criticism from various parties, including former premier Dr Mahathir Mohamad. DAP Petaling Jaya Utara MP Tony Pua in a statement said, 1MDB chief Arul Kanda Kandasamy\u2019s rebuttal of Mahathir\u2019s criticism of the debt-ridden state investment fund do not address […]<\/p>\n","protected":false},"author":1,"featured_media":10560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[274],"tags":[],"class_list":["post-13146","post","type-post","status-publish","format-standard","hentry","category-national"],"_links":{"self":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts\/13146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/comments?post=13146"}],"version-history":[{"count":1,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts\/13146\/revisions"}],"predecessor-version":[{"id":13147,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/posts\/13146\/revisions\/13147"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/media\/10560"}],"wp:attachment":[{"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/media?parent=13146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/categories?post=13146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.therocket.com.my\/en\/wp-json\/wp\/v2\/tags?post=13146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}