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Dr Mahathir’s Bid To Nullify Forex RCI Findings Set For Aug 28

in Politics/Top News

KUALA LUMPUR- Lawyers representing Prime Minister Tun Dr Mahathir Mohamad in his lawsuit to nullify the Royal Commission of Inquiry’s (RCI) findings on Bank Negara’s foreign exchange losses in the 1990s are still waiting for instructions on whether to continue or withdraw the suit. One of the lawyers, Mohd Irzan Iswatt Mohd Noor, said the…

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It’s Rubbish, That’s Not Their (BNM’s) Role – Tun Daim

in Slider/Top News

PUTRAJAYA – Former Finance Minister Tun Daim Zainuddin told the Royal Commission of Inquiry (RCI) investigating Bank Negara Malaysia’s (BNM) foreign exchange (forex) losses in the 1980s and 1990s that he had never spoken to then-Prime Minister Tun Dr Mahathir Mohamad about the central bank’s forex dealings. Appearing as the 23rd witness in the proceedings…

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‘I was Not Informed Of BNM’s Forex Trading’ – Tun Daim

in Top News

PUTRAJAYA – Former finance minister Tun Daim Zainuddin today said he was not informed and was not aware of Bank Negara Malaysia (BNM)’s massive foreign exchange (forex) losses of the 1990s. In his written statement and later cross examined by Conducting Officer, Datuk Suhaimi Ibrahim; Daim insisted that BNM was given the full mandate to…

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Daim Zainuddin Takes Stand At RCI On BNM’s Forex Losses

in Latest

PUTRAJAYA- Tun Daim Zainuddin is currently testifying before the Royal Commission of Inquiry (RCI) investigating Bank Negara Malaysia’s (BNM) foreign exchange (forex) losses in the 1980s and 1990s. The former Finance Minister, who arrived at the Palace of Justice at 9.45am, took the stand at 10.22am. Earlier, former Finance Ministry Deputy Finance Secretary, Datuk Othman…

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Investors Of RCFX Forex Trading Company Cry Foul

in Latest

BUKIT MERTAJAM: Yet another ‘money game’ scam has been unveiled in the state. This time a group of investors claimed they have been cheated of RM703,000 in total after they invested in a forex trading company called RCFX since 2014. The single biggest investment was RM150,000. A spokesman for the group, who only wanted to…

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Anwar To Testify On BNM Forex Losses

in Latest/Slider

PUTRAJAYA – Former deputy prime minister Datuk Seri Anwar Ibrahim was present at the Palace of Justice here today to testify at the proceedings of the Royal Commission of Inquiry (RCI) into foreign exchange losses by Bank Negara Malaysia around the 1990s. The former finance minister, who is now serving a jail sentence, was escorted…

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Dr Mahathir Never Entered Trading Room RCI Heard

in Latest

  PUTRAJAYA – Bank Negara Malaysia (BNM) director in the foreign exchange management department told the Royal Commission of Inquiry (RCI) that former premier Tun Dr Mahathir Mohamad never entered the forex trading room. Azman Mat Ali, 54, responded “he never did” to a question by Dr Mahathir’s lawyer Mohamed Haniff Khatri Abdulla on whether…

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Anwar On Forex RCI’s Witness List For Tomorrow

in Latest

KUALA LUMPUR – PKR de facto leader Datuk Seri Anwar Ibrahim is scheduled to testify tomorrow before the Royal Commission of Inquiry (RCI) investigating Bank Negara Malaysia’s foreign exchange losses from the 1990s. Anwar’s lawyer, R. Sivarasa, confirmed that the former’s name is on the witness list for the inquiry for September 7. Anwar, who…

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Forex Scandal, Dark Episode In BNM History – Zeti

in Latest/Slider

PUTRAJAYA – In her testimony to the Royal Commission of Inquiry (RCI) here today, Former Bank Negara Malaysia (BNM) Governor Tan Sri Zeti Akhtar Aziz conceded that the foreign exchange (forex) losses scandal of the 1990s remains a dark episode in the history of the central bank. “The bank did suffer losses amounting to RM31…

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‘Datuk Seri’ 2 Others Arrested Over RM39.60m Forex Scam

in Latest/Slider

KUALA LUMPUR – A ‘Datuk Seri’ was among three individuals detained by the police for alleged involvement in a fraudulent foreign exchange (Forex) scheme involving RM39.60 million in losses. Bukit Aman Commercial Crime Investigation Department director Datuk Acryl Sani Abdullah Sani said the ‘Datuk Seri’, who was also the founder of the investment scheme, was…

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Man Held Over Fraud Forex Scheme Involving RM3.5 Mln

in Latest

JITRA – The police have arrested a man on suspicion of having cheated at least 10 people in Kedah of RM3.5 million in an alleged foreign exchange investment scheme. Kedah Police deputy chief DCP Sahabudin Manan said today the 43-year-old man was picked up in front of a bank in Kota Sarang Semut at 4.30pm…

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Zeti Will Cooperate With Probe Into BNM Forex Loss Probe

in Latest/Slider

KUALA LUMPUR: Former Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz says she is willing to cooperate with the investigation into the alleged foreign exchange (forex)trading loss of US$10 billion by the central bank in the 1990s. Zeti said on Thursday the issue was never raised during her 16-year tenure as governor…

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Report: Aussie Banks Fined For Trying To RIg Malaysia’s Forex Markets

in Latest/Slider

PETALING JAYA: Australia’s Federal Court has fined ANZ Bank A$9mil (RM29.8mil) and Macquarie Group A$6mil (RM19.9mil) after their traders, operating out of their Singapore offices, were found to have tried to rig a key benchmark rate in Malaysia’s foreign exchange markets. According to The Sydney Morning Herald (SMH), this comes after the two banks last…

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FOREX: Ringgit Lower Against US Dollar In Early Session

in Latest/Slider

KUALA LUMPUR: The ringgit eased against the US dollar in the early session Thursday on profit-taking after recording gains for two consecutive days. As of 9.10 am, the domestic unit depreciated to 3.8900/8980 against the greenback from yesterday’s close at 3.8660/8720. Meanwhile, the ringgit was mostly lower versus other major currencies. It declined against the…

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FOREX: Ringgit Opens Higher Against US Dollar

in Latest

KUALA LUMPUR: The ringgit strengthened to open higher against the US dollar Wednesday on renewed interest in the local currency, dealers said. At 9.01 am, the ringgit was quoted at 3.9850/9910 versus the US dollar from 4.0050/0100 on Tuesday. A dealer said the ringgit saw fresh demand following the inflow of foreign funds into the…

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FOREX: Ringgit Opens Lower Against Greenback In Early Trade

in Latest

KUALA LUMPUR: The ringgit slid further against the US dollar in early trade Thursday, with traders anxious over China’s economic health, dealers said. At 9 am, the ringgit was quoted lower at 4.4100/4180 against the US dollar from Wednesday’s 4.3890/3960. A dealer said an abrupt drop in oil prices forced investors into a defensive mode…

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Police Bust Fake Forex Syndicate With Arrest Of 2

in Latest

SHAH ALAM – The police have busted a fake forex investment syndicate following the arrest of the suspected mastermind and an accomplice and seizure of RM2.7 million on Sunday. The money is believed to be part of the loot which the syndicate had fleeced from victims in their fraudulent activities. Bukit Aman Commercial Crime Investigation…

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AirAsia X Net Losses Higher At RM288m In Q3 due To Forex

in Latest

KUALA LUMPUR: Medium-haul low-cost carrier AirAsia X posted net losses of RM288.19mil in the third quarter ended Sept 30, 2015 as it was impacted by higher expenses and foreign exchange losses. It said on Wednesday the net losses were higher when compared with the RM210.85mil a year ago. Loss per share was 9.1 sen compared…

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FOREX: Ringgit Opens Lower Against Dollar

in Latest/Slider

KUALA LUMPUR: The ringgit opened lower against the US dollar Friday on subdued sentiment amid optimism of an interest rate hike in the US this year. At 9.18 am, the ringgit was quoted at 4.2940/3010 versus the greenback from 4.2920/2970 at 5 pm on Thursday. A dealer said a recent comment from US Federal Reserve…

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FOREX: Ringgit Continues Rally, Trades Below 3.00-level Against Singapore Dollar

in Latest

KUALA LUMPUR: The ringgit strengthened against the US dollar today for the third consecutive session, boosted by rising crude oil prices and bullish local economic data, a dealer said. At 5 pm, the ringgit was quoted at 4.2150/2250 against the US dollar from 4.3720/3770 on Tuesday. The dealer said improved oil prices also sparked investor…

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Why 1MDB Is Not Okay And The Forex Loss Okay?

in Latest

In yesterday’s article, The other RM58 billion disappearing into thin air, some readers commented that the 1992-1994 Forex realised loss was okay while the yet to be determined 1MDB loss is not okay. I suppose that means the Forex loss was bona fide or done with good intentions while the 1MDB loss is mala fide…

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