Category: Bank Negara Scandal

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Monday, June 14, 1993:

Finance Minister, Anwar Ibrahim should direct Bank Negara Governor to appear before PAC to answer questions on Bank Negara’s colossal foreign exchange losses last year and not hide under the excuse of ‘national interest’

Finance Minister, Datuk Seri Anwar Ibrahim, should direct Bank Negara Governor, Tan Sri Jaffar Hussein, to appear before the Public Accounts Committee (PAC) of the Dewan Rakyat to answer questions on Bank Negara’s colossal foreign exchange losses last year and not hide under the excuse of ‘national interest’ Continue reading Finance Minister, Anwar Ibrahim should direct Bank Negara Governor to appear before PAC to answer questions on Bank Negara’s colossal foreign exchange losses last year and not hide under the excuse of ‘national interest’

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Penang on Thursday, June 10, 1993:

Public Accounts Committee should ask Tan Sri Jaffar Hussien to explain how Bank Negara could lose RM 10.2 billion from the British sterling crisis last September when one American could make a profit of RM 5 billion from British sterling in the same currency crisis

When the Public Accounts Committee (PAC) of the Dewan Rakyat meets tomorrow and on Saturday on Bank Negara’s colossal foreign exchange losses last year, it should ask the Bank Negara Governor Tan Sri Jaffar Hussein to explain how Bank Negara could lose RMl0.2 billion from the British sterling crisis last September when one American could make a profit of RM5 billion from British Sterling in the same currency crisis. Continue reading Public Accounts Committee should ask Tan Sri Jaffar Hussien to explain how Bank Negara could lose RM 10.2 billion from the British sterling crisis last September when one American could make a profit of RM 5 billion from British sterling in the same currency crisis

Speech (Part 2) by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at the Tanjong 3 DAP dinner in Jelutong at Batu Lancang, Penang on Friday. 30th April 1993 at 8 p.m.

DAP calls on Anwar Ibrahim to give a full and satisfactory statement on Bank Negara’s foreign exchange losses ranging from RM10.1 billion to RM12.8 billion as his Parliamentary speech on it last Tuesday was most unsatisfactory

DAP calls on the Finance Minister, Datuk Seri Anwar Ibrahim, to give a full and satisfactory statement on Bank Negara’s foreign exchange losses ranging from RM10.1 billion to RM12.8 billion as his Parliamentary speech on it was most unsatisfactory. Continue reading DAP calls on Anwar Ibrahim to give a full and satisfactory statement on Bank Negara’s foreign exchange losses ranging from RM10.1 billion to RM12.8 billion as his Parliamentary speech on it last Tuesday was most unsatisfactory

Speech by Parliamentary Opposition Leader, DAP Secretary- General and MP for Tanjong, Lim Kit Siang, in the Dewan Rakyat during the debate on the Royal Address on Tuesday, 27th April 1993

DAP calls for Royal Commission of Inquiry into the Bank Negara foreign exchange losses ranging from RM10.1 billion to RM12.8 billion

When the Yang di Pertuan Agong said in his Royal Address yesterday that the country’s commendable economic performance is the result of “pragmatic economic management”, I am sure Members of Parliament from all parties thought of one common subject – the so–called ‘paper losses’ of Bank Negara from its foreign exchange transactions ranging from RM10.1 billion to RM12.8 billion. Continue reading DAP calls for Royal Commission of Inquiry into the Bank Negara foreign exchange losses ranging from RM10.1 billion to RM12.8 billion

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Wednesday, April 21,1993:

Mahathir’s statement is a confirmation that the RM RM9.3 billion to RM12.8 billion Bank Negara foreign exchange losses is not caused merely by the ringgit appreciation of international reserves but because of Bank Negara’s foreign exchange speculation

Yesterday, the Prime Minister, Datuk Seri Dr. Mahathir Mohamed, said that Bank Negara had dabbled in foreign exchange markets because of the country’s strong economy and large reserves. He said that although it was not the practice of central banks to trade in the international money market, Bank Negara had done so because of its capability. Continue reading Mahathir’s statement is a confirmation that the RM RM9.3 billion to RM12.8 billion Bank Negara foreign exchange losses is not caused merely by the ringgit appreciation of international reserves but because of Bank Negara’s foreign exchange speculation

By Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Tuesday, April 20, 1993:

18 million Malaysians cannot accept the Bank Negara Governor’s explanation that the RM 9.3 to RM 12.8 billion foreign exchange losses are mere ‘paper losses’

DAP welcomes the lengthy nine-page statement yesterday given by Bank Negara Governor, Tan Sri Jaffar Hussein in response to public demands for a full explanation of its 1992 Bank Negara Report which indicated that the Bank Negara had suffered RM 9.3 billion to RM 12.8 billion losses from its foreign exchange dealings. Continue reading 18 million Malaysians cannot accept the Bank Negara Governor’s explanation that the RM 9.3 to RM 12.8 billion foreign exchange losses are mere ‘paper losses’

Speech by Parliament Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, at a dinner of Bukit Mertajam DAP Branch leaders held at Bukit Mertajam on Sunday, April 18, 1993 at 8 p.m.

Whole country waiting for a Cabinet statement after its Wednesday meeting on the colossal RM 12.8 billion Bank Negara foreign exchange losses
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The whole country is waiting for a Cabinet statement after its Wednesday meeting on the colossal RM 12.8 billion Bank Negara foreign exchange losses. Continue reading Whole country waiting for a Cabinet statement after its Wednesday meeting on the colossal RM 12.8 billion Bank Negara foreign exchange losses

Speech by Parliamentary Opposition leader, DAP Secretary-General and MP for Tanjong, Lim Kit Siang, at the DAP Teluk Intan Anniversary dinner held in Teluk Intan on Saturday, April 17, 1993 at 8 p.m.

Bank Negara should clarify whether it has incurred the colossal losses of RM $12 billion from foreign exchange and not just RM $9.3 billion

In the past two weeks, the country has been shaken by revelations that bank Negara had incurred the colossal losses of RM $9.3 billion from foreign exchange last year. Continue reading Bank Negara should clarify whether it has incurred the colossal losses of RM $12 billion from foreign exchange and not just RM $9.3 billion

by Parliamentary Opposition Leader, DAP Secretary-General and MP for Tanjung, Lim Kit Siang, in Petaling Jaya on Thursday, April 15, 1993:

Malaysia could build 15-20 new universities from the RM$9.3 billion losses of Bank Negara last year from foreign exchange.

The government and country must take a very serious view of the RM$9.3 billion foreign exchange losses suffered by Bank Negara last year, as this must be the biggest item of loss incurred by a single bank in a single year in Malaysian banking history. Continue reading Malaysia could build 15-20 new universities from the RM$9.3 billion losses of Bank Negara last year from foreign exchange