Hornbill Unleashed

August 5, 2017

Royal inquiry on BNM forex losses starts Tuesday

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

The Royal Commission of Inquiry examining Bank Negara’s foreign exchange losses during Tun Dr Mahathir’s administration will take place at the Palace of Justice in Putrajaya. — wiki picThe Royal Commission of Inquiry examining the central bank’s foreign exchange losses from the Mahathir administration will convene on Tuesday.

The commission announced this today while confirming the membership of its panel.

It was previously announced that former Chief Secretary Tan Sri Mohd Sidek Hassan, who headed the special task force (STF) on the scandal, would chair the commission.

Other members of the RCI included High Court judge Datuk Kamaludin Md Said, Bursa Malaysia chief executive Datuk Seri Tajuddin Atan, Special Taskforce to Facilitate Business (Pemudah) co-chairman Tan Sri Saw Choo Boon, and Malaysian Institute of Accountants member Pushpanathan S. A. Kanagarayar.

The proceedings will take place at the Palace of Justice in Putrajaya and is open to the public.

The RCI was announced on June 21 following the STF’s preliminary investigation on claims that Bank Negara Malaysia racked up US$10 billion in foreign exchange losses during the early 1990s.

The scandal was among the biggest from Tun Dr Mahathir Mohamad’s time as prime minister.


Source : The Malay Mail Online


 

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3 Comments »

  1. Malaysia’s forex losses was whose gains and benefited who? Can the RCI conclusively establish who were the beneficiaries of BNM forex losses? In the case of 1MDB there was no business misadventures. A big chunk of money was deliberately paid to a fake entity which redistributed the loots to several high profile people including MO1 and wife of MO1.

    Comment by Awaken Dayak — August 6, 2017 @ 6:25 PM | Reply

    • It’s like comparing a serial thief with a bankrupt.

      Comment by Mat Som — August 8, 2017 @ 6:37 PM | Reply

  2. Felda Scandal is more immediate today!

    We all know the quandary faced by Felda settlers now when the shares they bought at RM4.55 some years ago now plumetted to RM1.60. Is this what you call good policies? The question is good for whom?

    Now Najib is dishing goodies to the settlers to soote their pain. The money he used for this come from the taxpayers. Again we ask good for whom? Felda is buying a non controlling stake in Eagle High Indonesia for way above the market price. This is good for whom? Obviously it is good for Rajawali whose owner Peter Sondakh happens to be a good buddy of Najib

    Comment by Hattan — August 5, 2017 @ 10:28 AM | Reply


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