: Today, the country's business fraternity received news about the resignation of 1Malaysia Development Berhad's board of directors following the release of the Public Accounts Committee (PAC) report on the national strategic investment company. MUST READ: What went wrong? 5 things you need to know about 1MDB
In case you're wondering, here are the key people behind 1MDB: Tan Sri Lodin Wok Kamaruddin – Chairman
Tan Sri Lodin Wok Kamaruddin is the Chief Executive of Lembaga Tabung Angkatan Tentera (“LTAT”, Armed Forces Fund Board) since August 1982 and the Group Managing Director and Deputy Chairman of Boustead Holdings Berhad, one of Malaysia’s oldest diversified conglomerates, since 1 July 1991 and 3 March 2010.
Prior to joining LTAT in 1982, he was with Perbadanan Kemajuan Bukit Fraser (Fraser’s Hill Development Corporation) as its General Manager from 1973 to 1982.
Lodin has extensive experience in not only managing a provident fund but also in the establishment, restructuring and management of business interests ranging from plantation, property, pharmaceutical, heavy industries, trading and industrial and finance and investment.
He is the Chairman of Boustead Heavy Industries Corporation Berhad, Pharmaniaga Berhad and 1Malaysia Development Berhad. He is also the Deputy Chairman of Affin Holdings Berhad, and sits on the Boards of Affin Bank Berhad, Affin Islamic Bank Berhad, Affin Investment Bank Berhad, AXA AFFIN Life Insurance Berhad, Boustead Petroleum Marketing Sdn Bhd, MHS Aviation Berhad, The University of Nottingham in Malaysia Sdn Bhd, FIDE Forum and the Minority Shareholder Watchdog Group.
He graduated from the College of Business Administration, The University of Toledo, Toledo, Ohio, United States of America, with a Bachelor of Business Administration and Master of Business Administration in 1972 and 1973 respectively. Arul Kanda – President and Group Executive Director
Arul Kanda has extensive expertise in structured finance, corporate finance and restructuring across multiple markets including in Malaysia, the UK and the Middle East.
He joins 1MDB from Abu Dhabi Commercial Bank where he was Executive Vice-President and Head of Investment Banking, having previously worked in leadership positions at Barclays Capital and Credit Agricole.
He also served on the Board of RHB Investment Bank Berhad. Arul is a Board Member of Global Investment House (Kuwait) and Board Member/Investment Committee Member of the ADCB Macquarie Infrastructure Fund.
He is a UK-qualified Barrister, with an LLB from the London School of Economics and an LLM from University College London. Datuk Shahrol Azral Ibrahim Halmi
Shahrol has over 13 years of experience in IT Transformation, IT Integration, Service-Oriented Architecture and complex system implementations involving large government-linked entities, government agencies as well as local, regional and global financial institutions.
He has led key projects in Malaysia, including a multi-year transformation programme at the Employees Provident Fund as well as planning and executing the merger of Sime Darby, Guthrie and Golden Hope to form Synergy Drive, the world's biggest plantation company.
He was also the Executive Partner of Accenture and Managing Director of the Public Service Group of Accenture Malaysia Sdn Bhd.
A graduate of Stanford University, United States of America, Shahrol is currently PEMANDU’s Director of Oil, Gas & Energy and Financial Services’ National Key Economic Areas, as well as handling the Government’s Role in Business Strategic Reform Initiative.
He is also the President and Chief Executive Officer of Malaysia Petroleum Resources Corporation, an agency to promote, catalyst and transform the oil and gas services and manufacturing sector to become stronger entities in the industry. READ: 1MDB's board offer resignation following PAC's report today READ: Najib says PAC report proves Dr Mahathir's claims on 1MDB false
READ: 1MDB: Former CEO Shahrol Azral Ibrahim Halmi must be probed - PAC
Tan Sri Paduka Ismee Ismail
Ismee is the Group Managing Director and Chief Executive Officer of Lembaga Tabung Haji, the national pilgrim fund board.
He sits on the Board of TH Plantations Berhad, which is the investment arm of Tabung Haji involved in the cultivation of oil palm, including processing and marketing of crude palm oil and related products.
Lembaga Tabung Haji is also involved in property development through its subsidiary, TH Properties Sdn Bhd.
Ismee holds directorships in a number of public and private companies, including Bank Islam Malaysia Berhad, its parent company BIMB Holdings Berhad and Syarikat Takaful Malaysia Berhad.
He was previously the Chief Executive Officer of ECM Libra Securities and Director of ECM Libra Capital Sdn Bhd. He had served several organisations in various capacities, including as Senior General Manager of Finance, Lembaga Tabung Haji; Chief Accountant at the national asset management company, Pengurusan Danaharta Nasional Berhad; and General Manager, Business Development of Arab Malaysian Development Berhad.
He also held various positions in Shell Malaysia Berhad.
He is a Fellow of the Chartered Institute of Management Accountants (UK) and a Member of the Malaysian Institute of Accountants. Tan Sri Ong Gim Huat
Ong has 30 years of experience in the construction and real estate business, including trading of building materials and hardware. He sits on the Board of several other private limited companies, including Southern Pipe Industry (M) Sdn Bhd, a subsidiary of Southern Steel Berhad.
He is actively involved in promoting the local economy of Penang. He is the Past Chairman of Real Estate and Housing Developers Association, Penang Branch, and is a member of the Trustee of Master Builders and Building Materials Suppliers' Association, Penang.
He was also a Vice-President of Penang Chinese Chamber of Commerce from 1994 to 1998.
Ong graduated with a Bachelor of Commerce (Hons) from University of Manitoba, Winnipeg, Canada in 1976. Ashvin J Valiram
Ashvin is the Executive Director of the Valiram Group, the region's leading luxury goods retailer and travel-retail specialist.
He was instrumental in transforming the Valiram Group from its traditional textiles business to luxury fashion, delivering cutting edge-retail concepts in the domestic and travel retail arena. His achievements include the opening of "first-to-market" brands and securing exclusive distributorship rights for iconic international brands across the region.
In late 1996, Ashvin’s innovation lead the group to break new ground in opening the world’s first retail store at an airport specialising in selling fabrics. Today, the Valiram Group has evolved into a growing retail conglomerate.
The Valiram Group, with its headquarters in Malaysia, is one of the most prestigious specialist retailer in Southeast Asia.
Ashvin is an active member of the Entrepreneurs Organisation and has held the position of Vice-President of Duty Free Operators Association in Malaysia from 2003-2006.
He obtained a Bachelor of Science (BsBA) with double Majors in Finance and Accounting and a Minor in Economics from The American University, Washington.