KUALA LUMPUR (May 24): 1Malaysia Development Bhd (1MDB) president and chief executive officer Arul Kanda Kandasamy said in a statement today that he had sought legal advice on his options against Finance Minister Lim Guan Eng’s statement, which is deemed "potentially defamatory." 

The Edge Financial Daily reported today that Lim had yesterday slammed Arul Kanda for being “utterly dishonest and untrustworthy”, and instructed the ministry’s legal advisers to review his position in 1MDB.

It was reported that the strong statement came after Lim had a meeting with Arul Kanda, together with former 1MDB chief financial officer Azmi Tahir and former general counsel Ivan Chen. 

On Arul Kanda, Lim said it is “completely unbelievable that a highly paid and ‘experienced’ investment banker can be so irresponsibly clueless” as to not know whether the fund’s investments worth some RM9.8 billion exists, The Edge Financial Daily reported.

Today, Arul Kanda said: "In my opinion, it is unfair of the minister to issue a public statement, which did not fully and accurately represent how the questions were put and answered. The circumstances I was in and the context of my answers were conveniently left out, such that it produces a false impression and puts me in a bad light."

"More importantly, I strongly deny the potentially defamatory and personal attacks against me by the minister of finance. Therefore, in my personal capacity, not in relation to my employment and specifically only in relation to his statement, I have sought legal advice from my lawyers to advise me on my options. In the meantime, as I have done in the past, I commit to cooperate fully and to the best of my knowledge, with any ongoing or new investigations on 1MDB related matters," Arul Kanda said.