KUALA LUMPUR, Aug 25 ― The government initiated a royal commission of inquiry (RCI) into Bank Negara Malaysia’s (BNM) 1990s forex losses because DAP’s Lim Kit Siang had been calling for it, Tan Sri Annuar Musa said today.
The Umno information chief pointed out that the DAP parliamentary leader had first raised the issue in Parliament in 1994, then called in 2006 for an RCI into the central bank’s currency exchange losses that allegedly ran into more than RM30 billion between 1991 and 1994.
“And it was Kit Siang who was the first person to give a picture of the government’s forex trading losses that had reached half of the country’s reserves which totaled RM60 billion at that time.
“So the government is actually conducting this forex trading RCI based on the desire and initiative of the DAP that had pushed for an investigation on this matter. And the government sees DAP’s demands as something that is relevant for the interest of the people in this country,” Annuar was quoted by Umno Online telling a press conference at PWTC here.
The Umno news portal also reported Annuar as saying that the purported RM30 billion in forex trading losses during former prime minister Tun Dr Mahathir Mohamad’s tenure were “true” losses, unlike state investment fund 1Malaysia Development Bhd’s (1MDB) losses “on paper”.
“It is not like the 1MDB issue, where 1MDB’s losses are on paper. However, 1MDB’s business is still going on, they still can make profit and they still can conduct a rationalisation exercise to overcome any losses,” Annuar was quoted saying.
He denied that the public had to bear 1MDB’s debts.
Lim has said that the government should also hold an RCI into 1MDB, claiming that inquiries on “old and historic issues” were otherwise just a political tool.
Dr Mahathir is now head of Parti Pribumi Bersatu Malaysia (PPBM), part of the federal Opposition pact Pakatan Harapan.
