On Arul Kanda:
“Only the foolish, wayward, and politically bankrupt, would say that with such a track record, he is not worthy to lead the RM145 billion-Khazanah Nasional!” Datuk Dr Jacob George
ARUL KANDA – IDEAL CANDIDATE FOR KHAZANAH HEAD SAYS MALAYSIA ASEAN/APEC LEAD CONSUMERIST!
Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia.
It holds and manages, selected commercial assets of the Government and undertakes strategic investments on behalf of the nation.
Among them – sectors such as power, telecommunications, finance, healthcare, aviation, infrastructure, leisure and tourism, and property, amongst others.
The fund is a member of the International Forum of Sovereign Wealth Funds, which maintains and promotes the Santiago Principles on best practices in managing sovereign wealth funds.
Its portfolio includes Axiata, CIMB, Tenaga Nasional, IHH Healthcare, UEM Group, Telekom Malaysia, Malaysia Airlines, and Malaysia Airports.
For the record, Khazanah was incorporated under the Companies Act, 1965 in Malaysia on 3 September 1993 as a public limited company and commenced operations a year later.
It is owned by the Malaysian government and administered by the Minister of Finance Incorporated, except for one share held by the Federal Land Commissioner.
As per governance it is governed by a ten-member Board of Directors comprising representatives from the Government and the corporate sector with diverse professional backgrounds and expertise.
Beloved Malaysian Premier Najib Razak, and Minister of Finance, is the Chairman of the Board.
So what am I alluding to?
There is news report that there are changes expected with the retirement of Azman Mokhtar who has had a very good spell at Khazanah!
But as always in going forward with new heights to scale, we need new blood, new visions and new leadership in view ever changing global matrix!
This is why I am excited to hear that 1Malaysia Development Bhd (1MDB) president; Arul Kanda Kandasamy is among the candidates to succeed Khazanah Nasional Bhd managing director Azman Mokhtar when he leaves in 2019.
It is important to prepare a successor to allow a period for the candidate to understudy Azman and prepare to take effective control of the organization.
And why do I think Arul is an ideal candidate?
He has vast global experience as a senior management leader and investment banker, with extensive experience in structured finance, corporate finance, and restructuring across multiple markets including London, the Middle East, and Malaysia equips him adequately for both domestic and global challenges!
He is a UK-qualified Barrister.
He received an LLM with distinction in Corporate and Commercial Law from University College London in 2000. He also earned an LLB degree from the London School of Economics and Political Science in 1998.
More recently, Arul Kanda has been at 1Malaysia Development Berhad and also serves as its Chief Executive.
He had been the Group Executive Director at 1Malaysia Development Berhad since January 2015.
Previously, he served as an Executive Vice-President and Head of Investment Banking at Abu Dhabi Commercial Bank P.J.S.C.
For the record, Arul Kandasamy had joined the Abu Dhabi Commercial Bank in July 2008.
Prior to this, he worked in several leadership positions at Barclays Capital and Credit Agricole.
He was the Director of Investment Banking and Financing Solutions at Barclays Capital plc.
He served as the Head of Islamic Financing Solutions at Barclays Capital, Dubai from September 2006 to July 2008, as Head of Islamic Banking, London at CALYON from July 2005 to August 2006.
He had also served as the Director of Capital Markets, Bahrain at the CALYON from June 2004 to June 2005.
That is not all!
He was an Associate Director of Securitization, London at the CALYON from July 2003 to May 2004.
He also served as a Securitization Analyst, London at the CALYON from January 2002 to June 2003 and as a Director of Global Investment House K.P.S.C. until June 04, 2015.
From July 2009 to May 10, 2011, he served as a Non-Independent Non-Executive Director of RHB Investment Bank Berhad.
He has also served as a Director of RHB Islamic Bank Berhad.
Only the foolish, wayward, and politically bankrupt, would say that with such a track record, he is not worthy to lead the RM145 billion-Khazanah Nasional!
I rest my case!