Category: Bank Negara Scandal

All motorists should check whether their insurance policy is from Mercantile Insurance Sdn. Bhd. instead of finding out after an accident together with all the attendant hassle, shock and losses

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Monday, May 23,1994;

All motorists should check whether their insurance policy is from Mercantile Insurance Sdn. Bhd. instead of finding out after an accident together with all the attendant hassle, shock and losses

All vehicle owners should check whether their insurance policy is from Mercantile Insurance Sdn. Bhd. instead of finding out after an accident, together with all the attendant hassle, shack and losses. Continue reading All motorists should check whether their insurance policy is from Mercantile Insurance Sdn. Bhd. instead of finding out after an accident together with all the attendant hassle, shock and losses

Bank Negara is morally and legally bound to honour dollar-for-dollar the policies of 263,000 current Mercantile Insurance policyholders as Bank Negara has taken over Mercantile Insurance for over three years

by Parliamentary opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Sunday, 22nd May 1994:

Bank Negara is morally and legally bound to honour dollar-for-dollar the policies of 263,000 current Mercantile Insurance policyholders as Bank Negara has taken over Mercantile Insurance for over three years

Bank Negara has acted most irresponsibly in suddenly announcing on 17th May 1994 that it had directed Mercantile Insurance Sdn. Bhd. (MISB) to cease writing new business and renewals in all classes of insurance business, and to suspend all payments to claimants and creditors with immediate effect. Continue reading Bank Negara is morally and legally bound to honour dollar-for-dollar the policies of 263,000 current Mercantile Insurance policyholders as Bank Negara has taken over Mercantile Insurance for over three years

DAP calls on Finance Minister, Anwar Ibrahim to honour his undertaking to all policyholders when announcing the Bank Negara takeover of Mercantile Insurance in March 1991 that “business would as usual”

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Saturday, 21st May 1994:

DAP calls on Finance Minister, Anwar Ibrahim to honour his undertaking to all policyholders when announcing the Bank Negara takeover of Mercantile Insurance in March 1991 that “business would as usual”

DAP calls on Finance Minister, Datuk Seri Anwar Ibrahim to honour his undertaking and assurance to all Mercantile Insurance Sdn. Bhd. (MISB) policy holders and the public when announcing Bank Negara takeover of MISB in March 1991 that “business would contine as ususal”. Continue reading DAP calls on Finance Minister, Anwar Ibrahim to honour his undertaking to all policyholders when announcing the Bank Negara takeover of Mercantile Insurance in March 1991 that “business would as usual”

Mercantile Insurance motor policy holders who cannot get cover from other insurers should report to DAP elected representatives

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Friday, 20th May 1994:

Mercantile Insurance motor policy holders who cannot get cover from other insurers should report to DAP elected representatives

Mercantile Insurance motor policy holders who cannot get cover from other insurers should report to DAP elected representatives to take up their cases with Bank Negara. Continue reading Mercantile Insurance motor policy holders who cannot get cover from other insurers should report to DAP elected representatives

Bank Negara has been most irresponsible to the 263,000 Mercantile policy holders as it had assumed control over Mercantile Insurance since 1991

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Thursday, May 19, 1994;

Bank Negara has been most irresponsible to the 263,000 Mercantile policy holders as it had assumed control over Mercantile Insurance since 1991

Bank Negara has been most irresponsible to the 263,000 Mercantile, policy holders in making a sudden announcement ceasing all business activities and suspending all payments to claimants and creditors from yesterday. Continue reading Bank Negara has been most irresponsible to the 263,000 Mercantile policy holders as it had assumed control over Mercantile Insurance since 1991

Was Bank Negara’s maximum exposure at the height of its forward foreign exchange speculation in the region of RM270 billion, which was three times the country’s GDP and more than five times the country’s foreign reserves two years ago?

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Dewan Rakyat an Tuesday, May 3, 1994 an the 1993 and 1994 Supplementary Estimates

Was Bank Negara’s maximum exposure at the height of its forward foreign exchange speculation in the region of RM270 billion, which was three times the country’s GDP and more than five times the country’s foreign reserves two years ago?

Up to now, neither Parliament nor the country has got the full and true story as to what really happened to cause the colossal Bank Negara forex losses since 1992. Continue reading Was Bank Negara’s maximum exposure at the height of its forward foreign exchange speculation in the region of RM270 billion, which was three times the country’s GDP and more than five times the country’s foreign reserves two years ago?

The greatest challenge of the DAP in next general elections is to reverse the unfavourable national political trend and achieve new political breakthrough as capturing the Penang State Government

Speech by parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at the DAP Tanjong 3 Publicity Seminar held at Tanjong Country Club, Penang on Sunday, 17th April 1994 at 10 a.m.

The greatest challenge of the DAP in next general elections is to reverse the unfavourable national political trend and achieve new political breakthrough as capturing the Penang State Government

At the DAP National Leadership Conference in Kuala Lumpur last Sunday, I warned that the next general elections will be the DAP’s most difficult and challenging one where the DAP will not have any safe seat. Continue reading The greatest challenge of the DAP in next general elections is to reverse the unfavourable national political trend and achieve new political breakthrough as capturing the Penang State Government

General elections can be held any time after the new constituency redelineations come into force on 30th June

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjong, Lim Kit Siang, at the DAP Labis DAP Branch dinner held at Labis, Johore on Friday, April 15, 1994 at 8pm

General elections can be held any time after the new constituency redelineations come into force on 30th June

Yesterday, the Government tabled in Parliament the Election Commission’s new proposal for the redellineation of parliamentary and state assembly constituencies in Peninsular Malaysia and Sabah. Continue reading General elections can be held any time after the new constituency redelineations come into force on 30th June

Perak will be the hardest hit if there is a nation-wide swing against the DAP in the next general elections and DAP may lose all Parliamentary seats in the Kinta Valley as in 1982 general elections

Speech by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjong, Lim Kit Siang, at the Perak DAP State Dinner held in Ipoh on Thursday April 14, 1994 at 8 pm

Perak will be the hardest hit if there is a nation-wide swing against the DAP in the next general elections and DAP may lose all Parliamentary seats in the Kinta Valley as in 1982 general elections

On Sunday, at the DAP National Leadership Conference in Kuala Lumpur, I warned that the DAP would not have any safe seat in the next general elections. Continue reading Perak will be the hardest hit if there is a nation-wide swing against the DAP in the next general elections and DAP may lose all Parliamentary seats in the Kinta Valley as in 1982 general elections

The colossal forex losses in the last two years have knocked out a big hole’ in Bank Negara, not only making it insolvent but destroying it credibility and authority as the ‘banker’ and guardian of banks in Malaysia

Speech (Part 1) by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjong, Lim Kit Siang, in the Dewan Rakyat on the Royal Address debate on Monday, April 11, 1994

The colossal forex losses in the last two years have knocked out a big hole in Bank Negara, not only making it insolvent but destroying it credibility and authority as the ‘banker’ and guardian of banks in Malaysia.

Parliament is debating Bank Negara’s colossal foreign exchange losses for the second consecutive year and it is apt that we start with the story told by Tan Sri Jaffar Hussein at a lecture in New Delhi in December 1988 on the topic, “Central Banking in an Era of Change”, which was also used as the book title for Bank Negara’s “landmark speeches from 1959-1988”. Continue reading The colossal forex losses in the last two years have knocked out a big hole’ in Bank Negara, not only making it insolvent but destroying it credibility and authority as the ‘banker’ and guardian of banks in Malaysia