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.
Astro Awani
Thu Apr 07 2016
1MDB board of directors today offered their resignations following the release of the PAC report today. - File Photo
[LAPOR LANGSUNG] Freedom Flotilla to Gaza: Sah! Tiga kapal tetap berlayar, redah laut Mediterranean 24 April ini
FFC mengesahkan tiga kapal yang terlibat dalam misi Break the Siege of Gaza Freedom Flotilla akan memulakan pelayaran pada 24 April depan.
Freedom Flotilla to Gaza: Sah! Tiga kapal tetap berlayar, redah laut Mediterranean 24 April ini
FFC mengesahkan tiga kapal yang terlibat dalam misi Break the Siege of Gaza Freedom Flotilla akan memulakan pelayaran pada 24 April 2024 bersamaan hari Rabu.
SkyTrax: Kedudukan KLIA jatuh ke tangga 71
Kedudukan KLIA kini di tangga ke-71 mengikut Senarai Lapangan Terbang Terbaik Dunia SkyTrax 2024, jatuh empat anak tangga berbanding tahun sebelumnya.
China arahkan Apple keluarkan WhatsApp dan Thread daripada App Store
Kerajaan China mengarahkan Apple untuk mengeluarkan aplikasi Whatsapp dan Threads daripada App store China.
Empat pelari terlibat kontroversi dilucut pingat
Penganjur acara separa maraton Beijing mengumumkan pada Jumaat bahawa empat pelari yang terlibat dalam perlumbaan kontroversi pada Ahad lepas telah dilucutkan pingat, lapor Xinhua.
ASEAN gesa patuhi konsensus lima perkara
Negara-negara anggota ASEAN menzahirkan kebimbangan terhadap ketegangan yang berlaku di Myawaddy, Kayin State yang terletak di sempadan Myanmar-Thailand, serta di Rakhine State, Myanmar.
ASEAN berkata, ia ingin menegaskan semula komitmen untuk membantu Myanmar mencari penyelesaian dengan mewujudkan persekitaran kondusif melalu pelaksanaan penuh Konsensus Lima Perkara yang dipersetujui sebelum ini.
ASEAN berkata, ia ingin menegaskan semula komitmen untuk membantu Myanmar mencari penyelesaian dengan mewujudkan persekitaran kondusif melalu pelaksanaan penuh Konsensus Lima Perkara yang dipersetujui sebelum ini.
Setiap parti politik ada kaedah sendiri – Zahid
Setiap parti politik di dalam Kerajaan Perpaduan mempunyai kaedah sendiri untuk membantu memenangkan calon mereka pada Pilihan Raya Kecil Kuala Kubu Bharu, bulan depan.
Pengerusi Barisan Nasional (BN), Datuk Seri Ahmad Zahid Hamidi berkata demikian ketika diminta mengulas laporan mengenai kenyataan MCA tidak akan berkempen pada PRK itu.
Pengerusi Barisan Nasional (BN), Datuk Seri Ahmad Zahid Hamidi berkata demikian ketika diminta mengulas laporan mengenai kenyataan MCA tidak akan berkempen pada PRK itu.
Masih setia dengan UMNO, kritikan hanya untuk beri semangat
Ahli Majlis Kerja Tertinggi (MKT) UMNO, Tengku Datuk Seri Zafrul Abdul Aziz menegaskan beliau masih setia bersama parti itu meskipun ada mengkritik kepemimpinan UMNO Selangor sebelum ini.
Bekas Bendahari UMNO Selangor itu berkata, kritikan yang dibuatnya sebelum ini adalah berbentuk konstruktif dan hanya ingin membakar semangat parti itu.
Bekas Bendahari UMNO Selangor itu berkata, kritikan yang dibuatnya sebelum ini adalah berbentuk konstruktif dan hanya ingin membakar semangat parti itu.
Titah Addendum: Anwar enggan terlibat, itu bidang kuasa Lembaga Pengampunan dan YDP Agong
Perdana Menteri, Datuk Seri Anwar Ibrahim tidak mahu terlibat dengan perbincangan membabitkan titah tambahan berhubung tahanan di rumah membabitkan bekas Perdana Menteri, Datuk Seri Najib Tun Razak.
Anwar berkata, ini kerana perkara itu merupakan di bawah bidang kuasa Lembaga Pengampunan Wilayah Persekutuan dan juga melibatkan Yang di-Pertuan Agong dan Raja-Raja Melayu.
Anwar berkata, ini kerana perkara itu merupakan di bawah bidang kuasa Lembaga Pengampunan Wilayah Persekutuan dan juga melibatkan Yang di-Pertuan Agong dan Raja-Raja Melayu.
Giat Mara Bagan Datuk naik taraf jadi kampus MCI
Giat Mara Bagan Datuk telah dinaik taraf menjadi kampus Malaysia-China Institute (MCI) bagi melatih pelajar tempatan di dalam bidang Latihan Teknikal Dan Vokasional Malaysia (TVET) sebelum di hantar ke China.
Timbalan Perdana Menteri, Datuk Seri Ahmad Zahid Hamidi berkata, sejajar dengan itu, keluasan institusi berkenaan serta fasiliti akan ditambah.
Timbalan Perdana Menteri, Datuk Seri Ahmad Zahid Hamidi berkata, sejajar dengan itu, keluasan institusi berkenaan serta fasiliti akan ditambah.
Mahkamah tolak permohonan 1MDB untuk pindah kes saman AS$6.5 bilion
Pesuruhjaya Kehakiman turut mengarahkan 1MDB membayar kos RM4,000 masing-masing kepada Arul Kanda dan Mohd Irwan.
Mahkamah Rayuan tetapkan 20 Ogos untuk dengar rayuan Najib gugurkan hakim
Tarikh itu ditetapkan hari ini susulan pengurusan kes di hadapan penolong kanan pendaftar Mahkamah Rayuan Nurul Azrina Mohamed Yusof.
Disekat dari ke luar negara, tetapi tidak ditahan - Bekas Pengarah SRC
Shahrol memberitahu beliau tidak ditahan pihak berkuasa berkaitan urus niaga syarikat itu, namun disekat daripada ke luar negara.
Tiada perjanjian dengan pendakwaan untuk beri keterangan terhadap Najib - Jasmine Loo
Bekas peguam 1MDB sekali lagi menegaskan bahawa beliau tidak membuat sebarang perjanjian dengan pihak pendakwaan untuk memberi keterangan terhadap Datuk Seri Najib Tun Razak.
Perbicaraan kes 1MDB terpaksa ditangguh selepas Najib disahkan alami cirit-birit
Dr Mohd Hafiz berkata ubat-ubatan yang diberikan mungkin menyebabkan rasa mengantuk dan Najib perlu berehat sekurang-kurangnya dua hari.
Pengurusan 1MDB sepatutnya lakukan usaha wajar mengenai PSI - Saksi
Mahkamah Tinggi diberitahu bahawa pengurusan 1MDB sepatutnya telah melakukan usaha wajar mengenai kewujudan PSI sebelum dana 1MDB disalurkan kepada PSI untuk tujuan usaha sama.
Kerajaan sudah bayar RM48.06 bilion hutang 1MDB
Menteri Kewangan II, Datuk Seri Amir Hamzah Azizan memberitahu, jumlah itu termasuk bayaran AS$3 bilion (RM14.2 bilion) yang dibuat pada Mac 2023 menerusi Belanjawan 2023.
Dana SRC AS$15 juta dipindah kepada beberapa individu termasuk anak bekas PM Mongolia
Menurut pakar penyiasatan kewangan itu penyelidikannya mendedahkan selain Battushig, Dash Uranbileg iaitu tokoh politik di Mongolia menerima AS$2 juta daripada Muraset.
AG peroleh kebenaran mulakan prosiding komital terhadap Isham Jalil
Mahkamah Tinggi Kuala Lumpur hari ini membenarkan permohonan Peguam Negara (AG) untuk memulakan prosiding komital terhadap Isham Jalil.
Perjanjian berkaitan pemulihan aset 1MDB tidak terperinci - Johari
Perjanjian antara kerajaan Malaysia dan Goldman Sachs berkaitan pemulihan aset 1MDB pada 2020, dibuat dengan tidak terperinci.