The Truth Finally Revealed: Bank Negara Lost About RM 98 Billion In 1993

For 20-30 years Kit Siang has been demanding the truth regarding the BMF and Bank Negara FOREX scandals. A few days ago the CIA declassified the documents related to BMF and yesterday Murad revealed the truth regarding the Bank Negara FOREX scandal. Suddenly Kit Siang has nothing to say. Is that the price Kit Siang has to pay to become the next Deputy Prime Minister of Malaysia?

USD10 billion in 1992 is now worth RM98 billion

Murad revealed that the amount that was lost was about RM98 billion at today’s value and rate of exchange. So this explains why the government had to sell MAS and show a paper profit to cover this huge loss. In fact, back in 1993 Lim Kit Siang stood up in Parliament and said that he heard rumours that Bank Negara had gambled on the FOREX market and had lost billions. Kit Siang wanted the Prime Minister to respond.

Mahathir was absent from Parliament so his Finance Minister, Anwar Ibrahim, responded instead. And Anwar’s response was that the rumour was not true. All this is recorded in the Parliament Hansard.



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