Dr Mahathir’s lawyer urges RCI to retract forex loss conclusion

PUTRAJAYA: Tun Dr Mahathir Mohamad yesterday asked the Royal Commission of Inquiry (RCI) chairman to retract and withdraw a conclusion made last week that Bank Negara Malaysia’s (BNM) foreign exchange (forex) losses totalled RM31.5 billion.

The issue was addressed by Dr Mahathir’s lawyer, Mohamed Haniff Khatri Abdulla, during the proceedings investigating BNM’s forex losses in the 1980s and 1990s.

On Aug 21, the commission had concluded and announced at the end of the proceedings that BNM’s losses amounted to RM31.5 billion.

Haniff said such a declaration by the commission was “wrong and premature” since the overall proceedings had yet to be concluded.

“Any proceeding or investigation can only come to a proper conclusion upon the unfolding of the whole evidence,” he said.

He said a copy of the relevant media report on the issue was covered by Free Malaysia Today dated Aug 21, 2017, entitled “Declaration that BNM lost RM31.5 billion irks Dr M’s lawyer”.

Hanif said on Aug 25, Umno information chief Tan Sri Annuar Musa made a “damning remark” and referred to the conclusion of the RCI chairman to say that the losses was RM31. 5 billion.

He said this is a confusion that the commission should avoid.

He added that the Yang di-Pertuan Agong had specifically instructed that upon conclusion of the inquiry within the period of three months, the recommendations were to be presented to His Majesty directly.

“No conclusion should be made and given to the public as the conclusion should be sent to the Yang di-Pertuan Agong.

“We humbly urge the chairman to officially retract and withdraw the conclusion, which was announced at the end of the proceedings on Aug 21,” he said.

The RCI panel, which comprises Petroliam Nasional Bhd (Petronas) chairman Tan Sri Mohd Sidek Hassan, who sat as chairman, Special Task Force to facilitate Business (Pemudah) cochairman Tan Sri Saw Choo Boon, High Court judge Datuk Wira Kamaludin Md Said, Bursa Malaysia Bhd chief executive officer Datuk Seri Tajuddin Atan and Malaysian Institute of Accountants and Malaysian Institute of Certified Public Accountants member K. Pushpanathan, acknowledged the issue raised by the lawyer.

However, no decision has been made yet.