When the shoe fits
We appear to have two different standards when dealing with friends and foes. For our friends, we must not raise old issues and if we do then we must show the evidence and documents. For our enemies, we can go back as long as we want, even to 13th May 1969, and our allegations can be based on just coffee shop talk and idle rumours and we do not need to show any evidence or documents.
THE CORRIDORS OF POWERRaja Petra Kamarudin
This was what Lim Kit Siang said on Sunday, 3rd June 2012:
In a forum yesterday in Penang on the RM30 billion Bank Negara foreign exchange losses scandal 20 years ago, a former Bank Negara insider, former Bank Negara Deputy Governor Dr. Rosli Yaakop, stepped forward to throw some light on what was undoubtedly the biggest financial scandal in the nation’s history.
Rosli named four persons constituting the “forex scandal elite club masters” as responsible for the massive Bank Negara losses two decades ago – former Prime Minister Dr Mahathir Mohamed, ex-finance minister Daim Zainuddin, ex-Bank Negara Governor, the late Jaffar Hussein and current Minister in Prime Minister’s Department in charge of Economic Planning Unit Government Nor Mohamed Yakcop.
Rosli told the forum Jaffar and Nor were the biggest culprits by going overboard in the forex speculation activities, which were against the very grain of central bank principles.
He said the duo speculated and they gambled recklessly and irresponsibly with no regard to the safety of Bank Negara’s assets.
Rosli accused Nor, who is the Tasek Gelugor MP, to have directly caused the forex losses as he was the man tasked to speculate, and ultimately gamble, Malaysian Ringgit against foreign currencies.
He said Nor, then Bank Negara advisor in charge of investment department, would use his computer and other staff computers to speculate and gamble in foreign exchange market.
This has led international forex players to believe that Bank Negara had many aggressive market traders.
On that same day, Free Malaysia Today reported as follows in a special report entitled ‘Nor the main culprit behind forex scandal’:
A former Bank Negara insider has named four powerful elites as main players who caused the central bank’s massive RM30-billion loss in the international foreign exchange speculation scandal some 20 years ago.
In his explosive revelation, retired Bank Negara deputy manager, Dr Rosli Yaakop named former Prime Minister Dr Mahathir Mohamed, ex-finance minister Daim Zainuddin, ex-Bank Negara Governor, the late Jaffar Hussein and current Minister in Prime Minister’s Department in charge of Economic Planning Unit Government Nor Mohamed Yakcop as the “forex scandal elite club masters.”
Rosli told a forum here yesterday Jaffar and Nor were biggest culprits by going overboard in the speculative foreign currency venture.
He said the duo speculated and they gambled recklessly and irresponsibly with no regard to the safety of Bank Negara’s assets.
He revealed that they wanted to beat George Soros, perhaps, to impress their bosses that they were experts in forex dealings.
The former high-ranking Bank Negara officer said the forex speculation activities were against the very grain of central bank principles.
He asked on how a central bank can be heavily involved in massive forex speculations when its task was to stamp out excessive speculations?
“Bank Negara’s duty was to protect and strengthen the value of ringgit, not to gamble ringgit in forex market.
“I think it was a deliberate attempt to make money for certain people using Bank Negara as piggy ride,” Rosli hammered home his conclusion during a question-answer session later.
He accused Nor to have directly caused the forex losses given that the Tasek Gelugor MP was the man tasked to speculate, and ultimately gamble, Malaysian Ringgit against foreign currencies.
He said Nor, then Bank Negara advisor in charge of investment department, would use his computer and other staff computers to speculate and gamble in foreign exchange market.
This has led international forex players to believe that Bank Negara had many aggressive market traders.
“But truth is it was Nor Yakcop did it all,” Rosli told the forum titled: “Bank Negara Forex Scandal – When Government Becomes Speculator.”
In fact, in February this year, Malaysia Today came out with a series of five reports on the same matter as follows:
One disaster to cover another disaster (part 1)
One disaster to cover another disaster (part 2)
One disaster to cover another disaster (part 3)
One disaster to cover another disaster (part 4)
One disaster to cover another disaster (part 5)
Now, what Lim Kit Siang and Free Malaysia Today did not report is that the former Bank Negara Deputy Governor, Dr Rosli Yaakop, is actually a PAS leader from Negeri Sembilan. Hence the impression given is that Dr Rosli has no political agenda or is an ‘independent’ non-partisan ‘Deep Throat’ whereas the opposite is true.
In fact, Dr Rosli had retired from Bank Negara some time ago and has been a PAS leader for quite some time, since way back in the early days of the Reformasi Movement. There is nothing wrong with this, of course, but this should have been stated so that people are aware of it. As it is, not many are aware of Dr Rosli’s background as a PAS leader and the fact that he has been so for quite some time.
Back in 2004, Malaysiakini ran a report entitled BA begins work on budget 2004, that said:
The opposition has appointed a nine-member committee to work on a comprehensive BA budget for 2004, which their MPs will table in the September sitting of Parliament.
Barisan Alternatif (BA) secretariat chairperson, Abdul Rahman Othman, said the committee - comprising mostly accountants and economists - is led by him, PRM's Lee Sang and PAS' Dr Rosli Yaakop, a former Bank Negara senior officer.
He said the budget will focus on methods to spur economic growth with equal distribution and transparency in awarding government contracts.
Yes, that was back in the days even before Pakatan Rakyat was formed and when PKR was still called PKN -- that long ago.
But that is not the issue here. What is would be the fact that Dr Rosli did not offer any evidence or documents to support his allegation. Malaysia Today also made that same allegation but then we supported the allegation with documents, some marked RAHSIA.
Furthermore, when Malaysia Today raises any issue regarding people who used to be in power back in the 1980s or 1990s, we are asked, “Why now? Why expose this so close to the coming election?” Would not the same question be posed to Pakatan Rakyat on this Forex allegation -- why now, why so close to the next election?
Then some would make comments such as this is an old story. Why bring back an old story that is 15 years or 20 years in the past? But is not this Forex story also an old story of 20 years ago? So why raise such an old story that is already basi or stale?
Azmin Ali said the same thing about his alleged corrupt act back in 1995 (see the video below). When it involves Pakatan Rakyat people, it is an old story, already stale, something that happened so long ago and is no longer relevant. Why now? Why so close to the next election? And so on.
Another point to note is regarding the issue of what was raised in Parliament back in the mid-1990s, which was conveniently ignored. Back then, Lim Kit Siang raised the matter of the Forex loss and Anwar Ibrahim denied it (read the five-part report for the details and the evidence). Lim Kit Siang was so upset he actually accused Anwar of lying to Parliament.
Hence the issue is not only about the four personalities involved in the Forex fiasco but also the attempt to cover it up and to lie to Parliament as well. So there are five people involved, not four, and the fifth person is Anwar Ibrahim.
Why are they not mentioning this fact and why are they trying to cover this up? Furthermore, Dr Rosli had left Bank Negara more than ten years ago and has been a PAS leader just as long. Why did he not expose this, say, back in 1999? Why after more than ten years he decides to speak up and tell the truth, even though he has not offered any evidence to support his allegation?
The opposition must be consistent in its arguments. Do we raise old issues or not? Do we bury old stories or can we still raise them? If we make any allegation do we need to show the proof and documents or can we just make allegations without proof like in the case of Dr Rosli and the Forex fiasco?
We appear to have two different standards when dealing with friends and foes. For our friends, we must not raise old issues and if we do then we must show the evidence and documents. For our enemies, we can go back as long as we want, even to 13th May 1969, and our allegations can be based on just coffee shop talk and idle rumours and we do not need to show any evidence or documents.
Well, Malaysia Today shows documents as evidence, many marked SULIT or RAHSIA, which means we run the risk of being sent to jail. And we do not care how far back it goes and whether it involves government leaders or opposition leaders. This is why Malaysia Today is fairer and more independent.
Malaysia Today, as the Malays would say, does not pileh bulu.
