1MDB sacks Arul Kanda two days before contract expires

(The Sun Daily) – 1Malaysia Development Berhad (1MDB) has sacked its president and chief executive officer Arul Kanda Kandasamy (pix) two days before the expiry of his contract.

According to a report by The Edge, his termination letter was delivered to him on Thursday.

Arul Kanda’s contract with the troubled state investment firm ends on June 30.

The financial daily reported that based on the letter, he is said to have breached his contract.

theSun is attempting to contact Arul Kanda for confirmation on his termination at the time of writing.

He was first appointed to helm 1MDB in January 2015, his contract was to end by December, 2017, but was extended by another six months in January this year.