Anwar statement on Forex loss tallies, More questions …
It begs the question as to if he did not give true picture to his boss, who Nor Yakcob report to?
Another Brick in the Wall
Dato Seri Anwar Ibrahim was called in by the special taskforce enquiring on the foreign exchange speculation losses by Ban Negara Malaysia in 1994.
He issued a statement relating to the enquiry. Bit late but understandably he is in prison.
Anwar quoted few personalities that has passed on. Unless his statement in the enquiry differs from the released statement, it generally tallies with what were already known.
Anwar denied being aware of the losses but did express concern on the riskiness of the operation to Bank Negara Governor then, the late Tan Sri Jaafar Hussein twice.
He said he was not told the real situation. Jaafar only admitted later of not knowing the real situation too.
The officer in charge, now Tan Sri Nor Mohamed Yaacob did not give the true situation of the Bank’s trading operation to the Governor.
Who gave him the go ahead to undertake such massive speculative operation? If he never did, it could be considered a criminal offense.
Will he reveal there exist person when called in by the Special Taskforce? More so, if is another Keling.
The statement with our comment, as a former foreign exchange dealer with some familiarity with the issue in hand and some inside track, below
KENYATAAN MEDIA
Berkenaan Kerjasama Saya Dengan Pasukan Petugas Khas Forex
Saya memilih untuk bekerjasama dengan Pasukan Petugas Khas Forex selaku mantan Menteri Kewangan 1991-1998. Saya berpuas hati dengan ruang yang diberikan oleh Pengerusi Tan Sri Sidek dan jawatankuasa.
Dalam kesempatan singkat pada 20hb April lalu, saya telah jelaskan antara lain bahawa:
1. Sebaik menyandang jawatan Menteri Kewangan, Ketua Setiausaha Perbendaharaan (Tan Sri Zain Azraai Zainal Abidin) ada menyentuh urusan dagangan matawang oleh Bank Negara Malaysia. Menurutnya, sejak 1989, Perbendaharaan Amerika (Fed); Bank Pusat England dan IMF telah memaklumkan bahawa penglibatan BNM dalam urusan tersebut dianggap membimbangkan.
Comment: True, the concern by the Fed was as far back as 1989. But IMF?
It is not their area of operation so why IMF. Guess only Anwar is that close with IMF.
Berikutnya, dalam taklimat Gabenor Bank Negara Malaysia (BNM) Tan Sri Jaafar Hussein, beliau menafikan keterlibatan BNM sambil menekankan bahawa penglibatan BNM adalah sah sekadar mempertahankan kedudukan ringgit dalam pasaran.
Comment: It is an open secret which the whole foreign exchange market knows but those benefitting from the business would not say openly.
Jaafar did commented to press, in Forex Club dinners and at an International Cambiste conference for traders in Kuala Lumpur of “active reserve management”. In market parlance, trading but to common folks, compulsive gambling.
2. Masalah mula dikesan laporan yang membimbangkan dari media antarabangsa dan pasaran Zurich, sekitar akhir 1991 dan awal 1992, dan perkara tersebut dikemukakan semula kepada Gabenor BNM. Tan Sri Jaafar memberikan keterangan yang sama dan memaklumi bahawa Pengarah Urusan tersebut di BNM adalah Tan Sri Nor Mohamed Yakcop. Namun, manakala deraf awal audit BNM 1991 dibentangkan, Perbendaharaan melahirkan kebimbangan. Gabenor BNM akui jumlah terlibat adalah lebih besar dari yang dijangka.
Memandangkan saya dan Kementerian Kewangan tidak dimaklumkan mengenai hal tersebut, Gabenor sendiri yang menjelaskan kepada media dengan menyebut “kerugian atas kertas”.
Comment: True, the international media was tipped off and were on the prowl. More so, negative news were surfacing on Malaysia and beginning to be the target of international media.
Later years, British press painted the then Prime Minister as Mr 10%.
Berikutnya saya terpaksa menangani permasalahan tersebut di Parlimen, terutama persoalan-persoalan yang dibangkit Ketua Pembangkang ketika itu, YB Lim Kit Siang. Kerajaan memberikan penjelasan BNM sambil menjelaskan keutuhan ekonomi. Namun, saya menegaskan arahan agar BNM menghentikan dagangan Forex tersebut.
Comment: True, it happened amd Anwar’s reply in Parliament was made the butt of opposition jokes.
3. Dari perkembangan tahun berikutnya, 1993, ternyata urusan tersebut diteruskan; dan jumlah kerugian ketika itu, dianggar sekitar RM9 bilion hingga RM10 bilion.
Gabenor BNM membuat pengakuan kepada saya bahawa Tan Sri Nor Mohamed Yakcop tidak memberi laporan tepat kepadanya dan beliau telah menerima perletakan jawatan Tan Sri Nor Mohamed Yakcop sebagai petugas yang bertanggungjawab. Tan Sri Jaafar sendiri mengambil tanggungjawab sepenuhnya, walaupun saya akui kewibawaannya dan percaya bahawa beliau tidak diberikan keterangan lengkap oleh Tan Sri Nor Mohamed Yakcop.
Comment: This is confirmation that Nor Yakcop was the person in charge.
It begs the question as to if he did not give true picture to his boss, who Nor Yakcob report to?
