Bank Negara forex loss RM130 billion?

The official versions of BNM forex losses by government during the hey days of Tun Dr Mahathir was less than RM10 million.

However, the government position changed from not true, to only paper loss, and finally Raja Petra raised the point that the then Prime Minister and Minister of Finance lied to the public, Parliament, and cabinet.

Tengku Razaleigh Hamzah used to claim the losses could be at least RM16 billion derived from the negative capital position of BNM. Dato Murad have been talking of US$10 billion. The exchange rate then would mean it could range from RM30 to RM40 billion. 

The Mole columnist, Salahuddin bin Hisham, who debunked the current claim on the slide of ringgit, posed the question: Did BNM forex wipe out the country’s reserve? The foreign reserve then was less than RM100 billion, thus the losses could be in that ball park.

Now, Raja Petra's posting over the weekend here is more alarming:

The real losses were more than US$13 billion or RM130 billion at today’s value. The monthly turnover was RM700 billion, while the total forward position was US$150 billion.

More FDIs in Najib’s 8 years than Mahathir’s 22

IN another ceremony in Kuantan recently, work to start the East Coast Rail Link (ECRL) was launched, an event that was aimed at bringing a sense of awareness to the people of Pahang of an economic initiative that would be a game changer to the state.

Transportation and logistics improve accessibility and it is sure fire to raise economic activities and bring development to areas outside the major urban centres. Nitpicking on the corporate banners and signs in Chinese meant for officials from China has no significance.

The China-bashing arguments on compromised sovereignty, the fear China dominance, high national debt and questioning the project’s viability may have run its course.

Foreign direct investments

Penang JC, DAP government disgraced campaign against corruption

Sunday was a working day in Kedah.

A judge at the Alor Setar court rejected DAP lawyers appeal against the 5 day remand of Penang exco member, Phee Boon Pah. Come Monday, a lower rank judiciary official in the Penang Court could override a judge decision.

This send certain reputable anonymous blogger, Captain M into suspicion that there is more than midst the letter and spirit of the law in the decision of the Judicial Commissioner, Yang Arif Dato Abdul Wahab Mohamed. (read here).

Words among legal professionals is that Wahab's decision is personal. Apparently, he was rejected out of a certain office and had to take a difficult career path. The reason is not known but the reason could be office politics or any other reason.

God forbid it is not corruption.

Khairuddin confused or confusing Khairuddin

Yesterday, there was a court filing in Shah Alam by Dato Khairuddin Abu Hassan against Datin Seri Rosmah Mansor, Jho Loh with the circus to seek the return of the much talked about pink diamond [read Mkini here].

The filing could be to divert the adverse attention from the failed Nothing To Hide 2.0 effort by PPBM Armada in Shah Alam

It could also be to divert attention from the arrest of Penang DAP exco, Phee Boon Pah for corruption. He failed to get release from the 5-day remand in Alor Setar on Sunday, but successfully secured release at Penang Court on Monday.

Suddenly a statement from Khairuddin is circulating this evening.

Jho Loh: CIA spy made state witness for immunity?

We received a tip-off in the middle of the week before last that Jho Loh is "cooperating" with the US Department of Justice (DOJ).

The source speculated that he could implicate Dato Mohd Najib to save his skin. Yes, the source is not from the Anti-Najib Campaigners, but pro-Najib. It sounded rather protective.

A check with an ANC side source found there is some truth to it but the extent of the "cooperation" is not known.

Another source speculated that Jho Loh could be a "crown witness" and that way, get let off with a slap in the hand. They called it state witness in the States.

Me no lauyar, but our logic, based on some understanding and opinion of law practitioners, limited access to certain people, and years of following 1MDB before the public is aware of such a thing, tells me that something does not feel right.

Something2Hide behind Mahathir's two judicial reviews

The pro-Tun vehemently denied Tun Dr Mahathir was in a state of panic when the Special Taskforce announced the formation of a RCI on BNM forex loss.

Mahathir detractors claimed he left for London to celebrate Hari Raya to consult with Clare Brown on their next course for diversion and new offensive. He could afford to bring his grandchildren back for Hari Raya so it was no excuse to celebrate with them.

Before that, in June, Mahathir put up a front to claim he is not afraid of RCI. His lawyer then told the media that Mahathir is ready to testify to the RCI. Sometime in early July, he dared Dato Najib to "tangkap" (imprisoned) him. However, things went a little different.

During the Special Task Force, Dato Seri Anwar Ibrahim and Tan Sri Nor Mohaamed Yakcop talked too much. For Nor, he need to save his skin because Mahathir, Anwar and Lim Kit Siang looked to gang up to accuse the late Bank Negara Governor and himself.

In London, Mahathir made another of his frequent U turn to endorse Anwar as next PM. Words are he had sent people, Minister-level, to lobby with the Task Force members to save him.

Today, it is confirmed that he is not as brave as he seemed as he filed for a judicial review to remove the RCI panel. (Read MMO here).

Mahathir's Buenos Aires-Montevideo hideout

No writer's block. Just malas mood to sit and type away on a table.

That is till a friend complained of looking at Abu Juling face on the blog. Whichever way he give his political support, he is too tarnished to be of political value.

The legal discussion on the CJ appointment is an interesting subject to write. But Tan Sri Johan Jaafar's column in The Star here on Tun Dr Mahathir's 1997 trip to South America in the midst of the currency crisis storm is a window of opportunity not to be missed.

It is the awaited lead to uncover more of Buenos Aires to Mahathir in the scheme of things today. It answers why certain things happen in a certain way.