PUTRAJAYA, May 24 — Finance Minister Lim Guan Eng said 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy may take legal action if he wants to.

Lim also reminded Arul Kanda that he is currently the sole employee of 1MDB, that is owned by the ministry itself.

"He said he wants to sue… we will be waiting for him. He is free to do so.

"He is the only employee in 1MDB, that is solely owned by the ministry,” Lim said in a press conference here.

Yesterday, Arul Kanda said he was mulling legal action over claims made by the Bagan MP at a press conference, which he viewed as potentially defamatory.

When asked if he would sack Arul Kanda, Guan Eng said: "If there is any developments, we will inform you.”

Yesterday, Lim had summoned Arul Kanda for a meeting to discuss on the 1MDB’s financial status, specifically on its ability to repay its debts.

Following the meeting, Lim had claimed that Arul Kanda was clueless, and had been "utterly dishonest and preposterous” over his ignorance on the company’s collective RM9.8 billion investments.

He also instructed the ministry’s legal counsels to review Arul Kanda’s position as 1MDB president.

Arul Kanda had then in response said Lim’s public statement was unfair as it did not accurately represent the what transpired in the meeting.